Navigating the New Era of e-Invoicing in Romania: A Quick Guide for Finance Professionals

• The Romanian government is implementing a mandatory e-invoicing system from January 2024.
• All companies are required to issue and receive invoices electronically through the RO e-Invoice platform.
• There is a grace period from January 1, 2024, to March 31, 2024, for companies to adapt without penalties.
• Penalties for non-compliance range from approximately 1,000 to 2,000 EUR for non-compliant large entities.
• The shift to e-invoicing in Romania is part of a broader European movement to enhance tax compliance.
• The RO e-Invoicing platform supports the exchange of invoices in a standardized XML format.
• The Romanian Ministry of Finance is actively monitoring implementation and compliance.
• Companies must ensure their systems are compatible with the RO e-Invoice platform and generate invoices in the required format.
• The adoption of e-invoicing offers benefits such as streamlined invoice processing and enhanced fiscal compliance.
• Companies must stay informed and prepared for the mandatory e-invoicing system in Romania.

Source: blog.basware.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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