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Study On The Application Of Cash Accounting System For Vat In Romania

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  • ECOBICI NICOLAE

    (CONSTANTIN BRANCUSI UNIVERSITY OF TARGU JIU)

Abstract

The cash accounting system for VAT has been implemented in Romania as of 1 January 2013 and now turns one year of application in Romania. Since its implementation the system has sparked controversy, being harshly criticised by professional accountants in Romania and elsewhere. Criticisms mainly concerned the following issues: no possibility to choose to apply the system, breach of the VAT neutrality principles, maximum period of 90 days to postpone the chargeability of VAT for unpaid deliveries, while VAT deduction was subject to payment of the value of goods and services invoiced without specifying any term. In this article we would like to examine the extent to which the legislative changes that came into effect as of 1 January 2014 improve the cash accounting system for VAT in Romania. We will also analyse to what extent the system applied in 2013 has brought advantages/disadvantages to the economic entities in Romania based on a survey carried out on a heterogeneous sample of companies in the county of Gorj, regarded as nationally representative. Finally, we intend to compare the cash accounting system for VAT in Romania with its UK counterpart.

Suggested Citation

  • Ecobici Nicolae, 2014. "Study On The Application Of Cash Accounting System For Vat In Romania," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 187-191, February.
    • Handle: RePEc:cbu:jrnlec:y:2014:v:1:p:187-191
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    References listed on IDEAS

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    1. Ecobici Nicolae, 2013. "Who Benefits From The Vat Cash Accounting System In Romania As Of January 1, 2013?," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 88-91, February.
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    Cited by:

    1. Ecobici Nicolae, 2017. "Accounting And Fiscal Implications Regarding The Vat Code Withdrawal Caused By Inactivity," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 83-88, December.
    2. Ecobici Nicolae & Busan Gabriela, 2017. "Introduction Of Vat Split Payment Mechanism In Romania – Compulsory Versus Optionally," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 116-121, December.

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    1. Ecobici Nicolae, 2017. "Accounting And Fiscal Implications Regarding The Vat Code Withdrawal Caused By Inactivity," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 2, pages 83-88, December.
    2. Ecobici Nicolae & Busan Gabriela, 2017. "Introduction Of Vat Split Payment Mechanism In Romania – Compulsory Versus Optionally," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 116-121, December.

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