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Government approves initiative to lower limit for voluntary VAT registration for SMEs
18 May 2010
The Cabinet of ministers today approved a proposal by PM Valeriu Guma to lower the limit for voluntary registration as VAT payers for small and mid-sized enterprises from 100,000 lei to 50,000 lei in turnover.
The stated reason for adopting the proposal is that the SMEs which don't pay VAT are currently unable to sell their goods to VAT-paying clients. Another reason for lowering the limit is that many SMEs practice double-entry bookkeeping in order to avoid exceeding that cap.
The proposal will also be considered in the process of developing the 2011-2013 Medium Term Expenditure Framework before being submitted to Parliament for consideration.
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