B2B e-invoicing update
B2B e-invoicing developments in Romania had been simmering as of late, with a 1 January 2024 start expected but not yet officially confirmed. The Romanian Ministry of Finance has now provided some clarity around their e-reporting and e-invoicing plans, with the Romanian Ministry of Finance publishing draft legislation on their website which covers e-reporting and e-invoicing obligations.
The draft legislation incorporates a combination of e-reporting and e-invoicing obligations introduced via phased implementation, in line with the following:
- From 1 January 2024, invoices must be reported to the RO e-Invoice system within 5 working days
- A grace period will mean penalties (via fines) will be imposed from 1 April 2024 only.
- From 1 July 2024, invoices must be issued via the RO e-Invoice system
The draft legislation is available (in Romanian) at: https://mfinante.gov.ro/static/10/Mfp/transparenta/proiectlegemasurifiscalbugetare_19092023.pdf
The draft is still subject to change. Romania is a compliant territory for Kofax. We are cognizant of the impending deadline. Kofax is assessing the draft law and considering our position in respect of the mandate.