Romania SAF-T: Updated Guidance Released

Kelsey O'Gorman
August 17, 2021

In our last look at Romania SAF-T, we detailed the technical specifications released from Romania’s tax authority. Since then, additional guidance has been released including an official name for the SAF-T submission: D406.

Implementation timeline for mandatory submission of Romania SAF-T

  • Large taxpayers (as designated by the Romanian tax authorities) – 1 January 2022
  • Medium taxpayers – guidance indicates 2022, no official date released yet
  • Small taxpayers – 2023

To alleviate taxpayer concerns due to the complexity of the report and difficulties with extraction, the tax authorities are introducing a voluntary testing period which is due to begin in the coming weeks. During this period, taxpayers may submit what is known as D406T which will contain test data that the authorities will not use in the future for audit purposes.

Submission deadlines for Romania SAF-T

The Romanian SAF-T, D406, is based on the OECD schema version 2.0 which contains five sections:

  • General Ledger
  • Accounts Receivable
  • Accounts Payable</li<
  • Fixed Assets
  • Inventory

The submission deadlines are as follows:

  • Periodically (until the last calendar day of the month following the reporting period) – for information on General Ledger, Accounts Receivable, and Accounts Payable
  • Annually (until the deadline for submitting the financial statements for the financial year) – for information on Fixed Assets
  • On Demand (within the term established by the fiscal body, which may not be less than 30 calendar days from the date of request) – for information on Inventory

Taxpayers must submit sections of D406 monthly or quarterly, following the applicable tax period for VAT return submission.

For the first report, tax authorities have announced a grace period for the first three months of submission. This is from the date when the deposit obligation becomes effective for that taxpayer, where non-filing or incorrect filing will not result in penalization if correct submissions are submitted once the grace period ends.

Submission information for Romania SAF-T

The D406 must be submitted electronically in PDF format, with an XML attachment and electronic signature. The size of the two files must not exceed 500 MB. If the file is larger than the maximum limit, the portal will not accept it and the file must be divided into segments according to details set out in the Romanian guidance.

The tax authorities have indicated that, should a taxpayer find errors in the original submission, a corrective statement may be submitted to rectify these errors. The taxpayer should submit a second full corrected file to replace the original file that contains errors. If a taxpayer submits a second D406 for the same period, it is automatically considered a corrective statement.

Take Action

Need to ensure compliance with the latest Romania SAF-T requirements? Speak to our team. Follow us on LinkedIn and Twitter to keep up-to-date with the latest regulatory news and updates or see this overview on VAT Compliance in Romania.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Author

Kelsey O'Gorman

Kelsey O’Gorman is a Regulatory Counsel at Sovos. Within Sovos’ Regulatory Analysis function, Kelsey focuses on global sales tax and VAT issues, supporting both the tax determination and reporting engines. Kelsey received her B.A. in Psychology from University at Buffalo and her J.D. from Roger Williams University School of Law. She is a member of the Massachusetts Bar.
Share this post

EMEA IPT
March 7, 2024
Taxation of Motor Insurance Policies: Norway

Norway has an indirect tax that applies to elements of coverage under a motor insurance policy. This blog details everything you need to know about it. As with our dedicated Spain IPT overview, this blog will focus on the specifics in Norway. We also have a blog covering the taxation of motor insurance policies across […]

EMEA IPT
February 13, 2024
Liechtenstein IPT: An Overview

Liechtenstein is one of many countries with Insurance Premium Tax (IPT) requirements, specifically the Swiss Stamp Duty and Liechtenstein Insurance Levy. This blog provides an overview of IPT in Liechtenstein to help insurance companies remain compliant.   What kind of taxes are applicable in Liechtenstein on insurance premium amounts? In Liechtenstein, there are two types […]

EMEA IPT
December 7, 2023
Monaco Insurance Premium Tax: An Overview

Monaco is one of many countries with Insurance Premium Tax (IPT) requirements, specifically the Special Annual Tax and Fire Brigade Tax. This blog provides an overview of IPT in Monaco to help insurance companies remain compliant.   What kind of taxes are applicable in Monaco on insurance premium amounts? In Monaco, there are two types […]

IPT Spain
November 29, 2023
Taxation of Motor Insurance Policies: Spain

There is a wide variety of indirect taxes and parafiscal charges that apply to the different elements of coverage that can be included under a motor insurance policy in Spain. You can read our blog to learn more about taxation of motor insurance policies in Europe, this blog focuses on some of the specifics to […]

EMEA VAT & Fiscal Reporting
November 23, 2023
6 Possible Pitfalls in the Pursuit of VAT Compliance

The convergence of traditional Value Added Tax (VAT) and transactional compliance regimes is creating new obligations and responsibilities for companies doing business around the world. When it comes to VAT, compliance is so much more than just reporting. Here are six pitfalls you should avoid in the pursuit of VAT compliance:   1. Making the […]