Type: Legislation
Romania’s eFactură 2024 Initiative, introduced in January, has extended its penalty relief phase till 31 May, as outlined in a draft emergency ordinance on 23 March. The initiative follows a two-stage launch strategy. The first stage, commencing in January 2024, establishes a near real-time reporting regime for invoices from January 1 to June 31, 2024, with no penalties applied. This phase necessitates digital invoice reporting in XML within 5 working days of issuance, exclusively through the Virtual Private Space (SPV) on the RO e-invoice system for domestic supplies, excluding exports and intra-community supplies. Until 31 May 2024, there will be no fines for non-compliance. The second stage, scheduled for July 2024, introduces pre-clearance electronic invoice submissions via the eFactură platform, making paper invoices unacceptable for tax compliance. The regime mandates pre-clearance sending of invoices in CIUS_RO format to the government’s portal, incorporating basic validation checks. Additionally, Romania has provided fresh guidance and extended penalty exemptions, including simplified invoices for goods and services, and exemptions for exports, non-resident counterparties, or B2C transactions. With parliamentary and presidential approval received in December 2023, the legislation for B2B electronic invoicing for resident and non-resident businesses is set to be implemented. Furthermore, the Ministry of Finance has issued a comprehensive user guidance manual covering various aspects of the mandatory e-invoicing regime starting January 2024, encompassing registration, access, invoicing app usage, invoice generation, archiving, and FAQs.
Effective date: January 1st, 2024
