The Romanian Ministry of Finance published draft legislation proposing new budgetary measures among which is the implementation of the highly anticipated electronic invoicing mandate.
Even though the draft legislation maintains the January 2024 roll-out date previously approved by the EU Council, it proposes an invoice reporting system to operate in the first 6 months, with the electronic invoicing system (RO e-factura) to be fully implemented in July 2024.
Furthermore, a 3-month grace period – between January and March 2024 – is proposed during which no penalties shall be imposed.
The updated timeline is as follows:
January 2024 – established taxable persons as well as VAT-registered taxable persons must submit their invoices in the RO e-factura system within 5 days of issuance for the purpose of reporting the invoice data
April 2024 – fines will become applicable to non-compliant taxpayers
July 2024 – the system shifts to an invoice clearance system that also transmits the invoice to Romanian-registered trading parties
