The President of Romania has amended the law for mandatory B2G e-invoicing to include B2B transactions. Starting from January 1, 2024, electronic invoicing will be mandatory for B2B transactions. The first three months of 2024 will be non-penalty months, allowing businesses to continue issuing invoices in paper form, PDF, or other electronic formats. Resident companies must electronically report issued invoices within five working days, with penalties ranging from RON 1000 to 10,000 for non-compliance. From January 1, 2024, the burden of compliance shifts to the recipient of the invoice, who must exclusively accept structured XML e-invoices. Non-resident businesses registered for VAT in Romania can continue issuing tax invoices as before but must electronically register them. Penalties for non-compliance range from RON 1000 to 10,000. Romania’s move towards electronic invoicing and reporting aims to combat the gray economy and reduce the national VAT Gap. Businesses affected by the mandate should prepare their tax technology tools for compliance as soon as possible.
Source 1stopvat
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