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Romania Regulatory Updates-2 May 2024

Hatice Ozcan

May 9, 2024

Romania Delays E-Invoicing Sanctions; New Deadline Set for May 2024

In a significant update for businesses across Romania, the government has announced a postponement of the enforcement of e-invoicing sanctions until May 31, 2024. Initially, it was mandated that all companies must start issuing invoices electronically from January 1, 2024. However, recognizing the need for a smoother transition, authorities have now provided a grace period for companies to comply without facing penalties. 

The extension aims to give businesses sufficient time to integrate the RO E-Invoice system into their operations effectively. Post May 31, non-compliance will attract fines. Large taxpayers could face penalties ranging from 5,000 to 10,000 RON (approximately 1,000 to 2,000 EUR). Medium taxpayers will be subject to fines between 2,500 and 5,000 RON (500 to 1,000 EUR), and small taxpayers could incur fines from 1,000 RON to 2,500 RON (200 to 500 EUR).

This decision is part of broader efforts to enhance tax compliance and modernize the financial reporting landscape in Romania. Companies are urged to use this period to ensure their systems and processes are fully compliant with the new digital invoicing requirements.

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