Romania VAT Calculator

Romania VAT follows the EU VAT regime and is administered by the Romanian Ministry of Finance. The standard VAT rate is 24 % which is collected for general goods and services and reduced rate of 9 % is collected for hotels, cultural events, medicine, books, newspapers and 5 % is collected for real estate. If a company's turnover for the previous year is above EUR 65,000, then VAT registration is compulsory.

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Romania VAT follows the EU VAT regime and is administered by the Romanian Ministry of Finance. The standard VAT rate is 24 % which is collected for general goods and services and reduced rate of 9 % is collected for hotels, cultural events, medicine, books, newspapers and 5 % is collected for real estate. If a company's turnover for the previous year is above EUR 65,000, then VAT registration is compulsory.

Formula:

Add Tax Tax Amount = ( Original Cost * VAT% ) / 100 Net Price = Original Cost + Tax Amount
Remove Tax Tax Amount = Original Cost - ( Original Cost * ( 100 / ( 100 + VAT% ) ) ) Net Price = Original Cost - Tax Amount

Example

Find the VAT price and net price in Romania (GST % is 24) for an amount of 25000 lei

Add Tax

Solution :
GST % = 24
Amount = 25000

Step 1 :
GST Price = (25000 * 24 ) / 100
     = 6000 lei

Step 2 :
Net Price = 25000 + 6000
     = 31000 lei

Hence the VAT Price is 6000 lei and Net Price is 31000 lei

Remove Tax

Solution :
GST % = 24
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 24)))
                 = 25000 - (25000 * 0.81)
                 = 25000 - 20161.29
                 = 25000 - 20161.29
GST Price = 4838.71 lei

Step 2 :
Net Price = 25000 - 4838.71
                = 20161.29 lei

Hence the VAT Price is 4838.71 lei and Net Price is 20161.29 lei


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