6 January 2022
From 1 January 2022, businesses will be able to register for the live VAT e-invoice (the RO e-Factura) reporting in Romania.
The new voluntary regime will allow businesses that sell to other VAT registered businesses and government departments in the country to declare their sales to the Romanian tax authorities via a new e-invoicing platform. This is instead of sending invoices directly to their customers.
The Romanian tax authorities will then digitally verify these invoices and then send them to the customer via its platform.
The Ministry of Finance hopes this new invoice-reporting regime will help to prevent VAT fraud in the country and if successful, it is planning to make this a mandatory requirement for some high-risk transactions where fraud is prevalent from as early as 1 July 2022.
Romania joins a growing list of EU countries, including Italy, Hungary, Poland, France, and Slovakia, which have or will introduce e-invoices in the near future.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.