Fiscal subject related
Other news from Romania
Retailers in Romania may face tougher sanctions for selling excisable products without an acquired certificate
Starting from November 11, 2023, retailers in Romania who sell excisable products such as alcoholic beverages, processed tobacco, and energy products without a prior certificate from the customs authority will face harsher penalties, according to a new law adopted by the government. The law aims to prevent tax evasion and money laundering and to ensure compliance with excise regulations. The new s... Read more
The Romanian Ministry of Finance emphasizes the cash payment limits and increases fines for non-compliance with the new bill.
If a company in Romania exceeds the cash payment ceiling, which is the maximum amount of cash that can be used in a transaction between two parties, it will be fined 25% of the excess amount. Here are the extended details.... The new fines and penalties in case of non-compliance for companies (including retailers) in Romania for not adhering to rules for cash transactions are defined and include... Read more
Electronic Invoicing in Romania: a two-phase approach explained
Romania has recently adopted new legislation that aims to ensure its long-term financial stability by introducing various fiscal-budgetary measures. One of the key measures is the mandatory use of electronic invoicing for business transactions. The legislation was signed on October 26, 2023, after being reviewed and approved by the constitutional court, and is now in force. It covers several topi... Read more
How to follow the new cash ceiling rules in Romania as a retailer?
Based on a new change in legislation, retail companies in Romania must adhere to a daily cash ceiling of 1,000 lei per person for receipts, with a total ceiling not exceeding 50,000 lei per day for keeping cash in the drawer. Let's delve deeper into the specifics. Read more
Clarification of the documents required for fiscal electronic cash registers in Romania by a new order
The ANAF Order No. 1612/2023 regarding the documents that can be requested concerning electronic cash registers used in Romania and on the obligation of economic operators to use fiscal electronic cash registers, published in the Official Gazette, Part I nr. 919 of October 12, 2023 The order notes what the taxpayers need to show to the tax administration offices to get a special number for their cash registers. This number is needed to use the cash register legally, but the obligation depends on the specifics of usage. Read more
Implementation of the ViDA directive faces delays
The European Commission's ambitious plan to modernize and digitalize the EU's value-added tax (VAT) system has been postponed by two years and possibly more after facing resistance from some member states and businesses. The VAT in the Digital Age (ViDA) initiative, which was proposed in December 2022, aimed to introduce a series of measures to reduce VAT fraud, simplify VAT compliance, and promo... Read more