- SAF-T Implementation Challenges: Starting January 1, 2025, non-established companies in Romania must submit the D406 Standard Audit File for Tax (SAF-T), but the rollout faced significant hurdles, including delayed software validation and a lack of communication from authorities, complicating compliance efforts.
- Technical and Reporting Difficulties: The transition revealed issues such as inadequate technical capacity to validate SAF-T submissions, unreliable systems for acknowledging filings, and new data requirements that exceeded typical VAT reporting capabilities, particularly for businesses with infrequent transactions in Romania.
- Increased Compliance Burden: Non-established businesses now face additional challenges, including the need to report commodity codes, provide detailed transaction information, and navigate complex adjustment and exchange rate rules, highlighting the importance of ensuring infrastructure readiness before enforcing digital tax compliance.
Source Fintua
Click on the logo to visit the website
Subscribe to the FINTUA Newsletter
Latest Posts in "Romania"
- Romania Extends Reverse Charge Mechanism to Wholesale Fruit and Vegetable Markets, Eliminating B2B VAT Payments
- Romania Updates VAT Form to Reflect New Rates and Housing Supply Provisions
- Romania Updating VAT Form to Account for New Rates
- ANAF Launches Major Operation Against Online Trade Tax Evasion, Targets Over 200 Companies
- Romania Increases VAT Rates: Standard to 21%, Reduced Rates Consolidated to 11%
