2024 Romania eFactură B2B electronic invoice full rollout
Romania has dropped plans for a phased rollout to all companies of mandatory B2B e-invoicing. Instead, it will aim for a single 2024 ‘Big Bang’. Ministry of Finance has now confirmed.
This follows the July 2022 first round for fraud-sensitive products.
B2G e-invoicing is mandatory from 1 July 2022 using the RO eFactură protocol.
July 2022 – B2B goods prone to VAT evasion
Initially, it is a voluntary program. But high-risk B2B supplies susceptible to VAT evasion will be mandated for from 1 July 2022. This will include:
- Fruits and vegetables
- Mineral products
Romania is following the Italian SdI pre-clearance model, including Continuous Transaction Controls (CTC), which has proven highly successful at cutting the VAT Gap – the difference between forecast and actual indirect tax revenues. Romania has the EU’s highest VAT Gap at 34%.
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Romanian SAF-T monthly transaction reporting was launched in January 2022 by the Romanian tax authority, ANAF. Follow VAT Calc’s global live VAT invoice transaction and e-invoice tracker on real-time transaction-based reporting.
Pre-clearance Romanian e-invoicing
The increasing global e-invoice trend is for live-reporting or draft sales invoices being first sent to the tax authorities for recording and basic validation checks. This approved invoice is then sent to the customer – either by the tax authorities (Italy) or the taxpayer with a special digital signature or QR Code. In some cases, an approved e-invoicing agent is required and it this is the route France e-invoicing will likely take from July 2024. This includes the following steps:
- The vendor issues an XML invoice through the RO e-invoicing platform
- Minimal validation and information requirement checks are performed. In the event of a failure, the vendor is notified to make a correction and resubmit.
- The Ministry of Public Finances will certify the invoice with its digital signature
- The invoice is sent to the customer, which is considered the tax point of the invoice for VAT purposes
RO e-transport reporting July 2022
In addition to e-invoicing, Romania is also introduced an electronic movement of goods register. This is similar to Hungary and India’s e-Way Bill.
e-transport starts 1 July 2022 with mandated journeys for high-risk goods (see above) having to be registered in accordance with API schema submission. Any movements must first be registered with ANAF via and XML document.
EU Digital Reporting Requirements and e-invoicing by 2024?
EU VAT in the Digital Age reforms include a channel for harmonised Digital Reporting Requirements (DRR) and Continuous Transaction Controls (CTC) by EU states. This grew from the 2020 Tax Package proposals for a fairer and more efficient EU tax regime.
Our VAT Calculator tax engine can provide instant global VAT or GST calculations for your e-invoicing or real-time reporting obligations.