Romania enacts the e-invoicing and e-reporting requirements

The President of Romania has officially signed into law the mandatory use of the RO E-Factura system for both resident and non-resident taxable persons.

Timeline

Starting January 2024, Romanian VAT-registered businesses must comply with e-reporting rules. By July 2024, all B2B invoices will be issued through the E-Factura system.

Impact

With the law now signed and the January 2024 implementation deadline approaching, businesses must promptly prepare their systems for the new requirements. Resident and non-resident VAT-registered businesses have five days from the invoice issuance date to meet the e-reporting obligation. No fines will be imposed for non-compliance between January 1st and March 31, 2024.

Starting April 2024, penalties ranging from 1000 LEI to 10000 LEI (approximately EUR 200 to EUR 2000) will be applied for non-compliance.

Furthermore, starting July 2024, resident businesses must issue and exchange invoices exclusively through the RO E-Factura system, with potential penalties equal to the VAT amount recorded on the invoice for non-compliance.