{"id":9303,"date":"2023-12-07T17:21:10","date_gmt":"2023-12-07T15:21:10","guid":{"rendered":"https:\/\/www.retarus.com\/blog\/en\/romania-set-to-enforce-mandatory-electronic-invoicing-for-b2b-in-2024"},"modified":"2024-05-07T11:03:45","modified_gmt":"2024-05-07T09:03:45","slug":"romania-set-to-enforce-mandatory-electronic-invoicing-for-b2b-in-2024","status":"publish","type":"post","link":"https:\/\/www.retarus.com\/blog\/en\/romania-set-to-enforce-mandatory-electronic-invoicing-for-b2b-in-2024\/","title":{"rendered":"Romania set to enforce mandatory electronic invoicing for B2B in 2024"},"content":{"rendered":"\n
As of January 2024, Romania is set to enact substantial changes to its e-invoicing landscape. Companies violating the new mandatory requirements risk incurring severe penalties. Take steps now to avoid getting into difficulty: Using Retarus E-Invoicing, you can be certain that you are sending and receiving invoices in a timely and compliant manner.<\/p>\n\n\n\n
The upcoming changes apply to all companies based in Romania or who have a permanent office established in the country. To avoid being hit by imminent fines, such organizations urgently need to adapt their billing and tax processes to comply with the new regulations.<\/p>\n\n\n\n
The regulations already in place:<\/p>\n\n\n\n
The upcoming changes:<\/p>\n\n\n\n
Companies failing to adhere to the regulations following a short grace period which ends on March 31, 2024, face penalties for non-compliance. Depending on the size of the company, the fines could amount to between 1,000 RON and 10,000 RON (around \u20ac2,000). Domestic taxpayers who receive invoices for B2B transactions outside of the e-invoicing system may have fines imposed up to the total of the value added tax shown on the invoice.<\/p>\n\n\n\n
The national Romanian e-invoicing platform, RO for short, was launched in November 2021 for submitting invoices for both the B2G and B2B scenarios. The platform is sometimes also referred to as ANAF (the acronym for the Romanian finance ministry). The key details at a glance:<\/p>\n\n\n\n
The Standard Audit File for Tax (SAF-T) is the OECD standard for the electronic sharing of accounting data between organizations and their authorities. Since 2022, SAF-T has been mandatory for all Romanian companies as well as foreign companies subject to VAT and registered in Romania. The e-invoicing framework is being introduced in phases:<\/p>\n\n\n\n
The accounting and tax information must be transferred to the Romanian tax authority (ANAF) embedded into a PDF in SAF-T D406 format. There is a duty to report tax details within the respective VAT (value added tax) period, assets and inventory.<\/p>\n\n\n\n
As of July 2024, RO e-Factura will be the only permissible channel for submitting B2B invoices. From that point onwards, recipients will also face fines should they continue to receive invoices in any other channel or form. In this way, the change will not only have an impact on a company’s accounting systems but also extend to other areas of the business including its legal relations. This makes adapting processes, management systems and processes unavoidable.<\/p>\n\n\n\n