E-invoicing in Portugal
November 29, 2023Changes in the Estonian Value Added Tax
November 30, 2023E-invoicing in Romania
Starting on January 1, 2024, Romania will implement the B2B e-invoicing protocol, effective until December 2026 or contingent upon the European Commission's adoption of the ViDA (VAT in the Digital Age) proposal.
The e-invoicing procedure becomes obligatory for all taxpayers, including non-resident entities, starting January 1, 2024.
Entities under this obligation must electronically submit their invoices through the national invoice system. Importantly, this requirement applies regardless of whether the recipients are registered in the RO e-Registry Invoice.
Invoices under this mandate must be submitted through the national invoice system within 5 calendar days from the invoice date – similar to the Portuguese SAF-T obligation. However, this deadline should not exceed 5 calendar days from the invoice issuance deadline.
Exceptions for e-Invoice Reporting:
Export sales (goods delivered outside the EU territory)
Intra-community deliveries (goods delivered to other EU countries). These two transaction types (exports and intra-EU deliveries of goods) are exempt from reporting in the e-Invoice system
Penalties for Non-Compliance:
Large taxpayers: Fines ranging from 5,000 lei to 10,000 lei
Medium taxpayers: Fines between 2,500 lei and 5,000 lei
Other legal entities and natural persons: Penalties ranging from 1,000 to 2,500 lei
Fortunately, a brief transition period is planned. From January 1 to March 31, 2024, no penalties will be imposed for non-compliance with submission deadlines.
Implementation Calendar:
From 01/01/2024 to 30/06/2024: Both e-invoices and paper-based invoices are acceptable for expense and VAT deductibility
From 01/07/2024 onward: Only e-invoices will be accepted
For businesses worldwide, not just in Romania, mandatory electronic invoicing is rapidly becoming a reality.
To ensure and sustain your business's compliance, it is crucial to collaborate with an electronic invoicing provider complying with various global countries.
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Author: Klaudia Rydz, Senior VAT Compliance Specialist at EFF