- Starting from January 1, 2024, entities carrying out taxable operations in Romania will be required to report all invoices through the RO e-Factura system.
- The paper version will only be allowed until June 30, 2024, and only if the supplier or beneficiary is not yet listed in the RO e-Invoice Register.
- VAT reimbursement will only be possible for entities established in Romania based on the electronic invoice.
- The process of implementing the system has two stages, with the first stage requiring Romanian suppliers to report all B2B invoices issued for operations taxable in Romania from January 1 to June 30, 2024.
- The second stage starts after July 1, 2024, and only electronically issued invoices in XML format will be accepted for VAT deduction purposes.
- Non-compliant entities risk fines and rejection of VAT deduction.
- Taxpayers should prepare ahead of time to meet these obligations, and the fiscal authority (ANAF) must improve its infrastructure to ensure compliance.
Source Deloitte
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