On July 27, 2023, it was published in the Official Journal of the European Union no. L 188, Implementing Decision (EU) 2023/1553 of the Council of 25 July 2023 authorizing Romania to introduce a special measure derogating from Articles 218 and 232 of Directive 2006/112/EC on the common system of tax on added value.
The decision allows Romania, starting from January 1, 2024, to institute mandatory electronic invoicing for all transactions made between taxable persons established on the territory of Romania. The measure is applicable until December 31, 2026. If it considers it necessary to extend the special measure, Romania can submit a request for an extension to the Commission, together with an evaluation report on the effectiveness of the national measures from the perspective of combating fraud and fiscal evasion in the field of VAT, as well as the simplification of VAT collection.
“It is a decision that I welcome and that will be of great benefit to us. It will mean increased transparency, accurate monitoring of transactions and real-time reporting to tax authorities, being a valuable tool in our efforts to protect the public budget and ensure fair competition between taxpayers. The fact that electronic invoicing provides an accurate and verifiable record of business transactions facilitates the verification and auditing process, ensuring that transactions comply with tax regulations and have not been fraudulently manipulated. The implementation of mandatory e-invoicing eliminates the possibility of using false or duplicate invoices, as each transaction is uniquely recorded. More,, Minister Marcel Boloș sent.
In the next period, the categories of economic operators that have the obligation to issue electronic invoices in the business-to-business (B2B) relationship and to transmit them through the national electronic invoice system RO e-Factura, as well as the date from which intervenes this obligation.
RO e-Invoice has important benefits for both the public administration and the private sector:
- Provides a real-time overview of budget execution and next-stage business-to-business (B2B) transactions;
- It contributes significantly to the reduction of VAT fraud at the national level, as well as within the European Union. It will reduce losses associated with tax evasion;
- It will be a system interconnected with the other systems owned by the EU member states;
- It will ensure the possibility of participation in the public procurement process of any entity from any member state of the European Union;
- The system will provide data in real time, which will lead to the efficiency of the collection process and, implicitly, ensure the need for investments by the Romanian state;
- Efficiency, predictability and transparency in spending money by public institutions;
- It will contribute to the development of the documentary verification mechanism (desk – audit – ANAF control – Antifraud from a distance) for compliance and prevention actions;
- The data collected through this system will be a support for more detailed predictive analyzes of the economic evolution, the identification of asymmetries in the economy and the implementation of relevant fiscal policies that ensure a natural framework for the development of the business environment;
- Eliminates the vulnerabilities of the old paper invoicing system.
Source: gov.ro
