VAT COLLECTION TO COLLECTION: ADVANTAGES AND DISADVANTAGES

Abstract

This paper presents the major changes in the payment system of value added tax (VAT). Through the Government Ordinance no. 15/2012 amending and supplementing Law no. 571/2003 regarding the Fiscal Code, there was introduced, with effect from 01.01.2013, the payment of the value added tax (VAT) on cashing the whole or partial counter value of the supply of goods or provision of services. There are detailed the most important data on the topic, but also information about the risks and benefits resulting from the new legal provisions.

Keywords

• delivery of goods
• service provisions
• taxpayer
• VAT
• turnover
• deductibility