Annals of the University of Petroşani, Economics, 12(3), 2012, 115-122 115 VAT COLLECTION TO COLLECTION: ADVANTAGES AND DISADVANTAGES ROXANA ISPAS * 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. KEY WORDS: delivery of goods; service provisions; taxpayer; VAT; turnover; deductibility. JEL CLASSIFICATION: E62; F65; H32; H25. The legal provisions on VAT collection to collection mandatory applies to: - taxpayers registered for VAT purposes, who have their headquarters in Romania and whose turnover in the previous calendar year do not exceed the 2,250,000 lei limit. These individuals were required to file a notice to the competent tax authorities until October 25 th , 2012 in order to be registered in the Register of persons applying VAT collection. If on January 1, 2012 these people are not registered anymore for VAT purposes (e.g. they are abolished or inactivated), or join a tax group, they will no longer be recorded in the register of the taxpayers who apply the VAT collection system. Taxpayers who have registered for VAT purposes after the 1 st of October 2012 will apply the general provisions (the turnover form the previous year) from Article 134 2 paragraph (3) letter a) and Article 156 3 paragraph (11), respectively they will submit a notification until the 25 th of January 2013 unless they have exceeded the limit * Lecturer, Ph.D., University of Craiova, Romania, roxispas1972@yahoo.com