Legislative News 10.10.2024

Starting in October 2024, several relevant legislative changes have been introduced in the accounting and tax field in Romania:

• The RO e-Invoice System – The National Office of Trade Registry (ONRC) has specified new obligations for certain companies to use the RO e-Invoice system, in accordance with Government Emergency Ordinance no. 120/2021 and subsequent amendments. This includes electronic transmission of invoices for goods and services that present a high fiscal risk, a measure intended to increase fiscal transparency and combat tax evasion​.

• Tax Amnesty – Through Order no. 5521/2024, the necessary procedures have been established for certain categories of taxpayers to benefit from the cancellation of some fiscal accessories and deferrals of debt payment, in accordance with the provisions of Government Emergency Ordinance no. 107/2024. This measure aims to support taxpayers in difficulty​.

• Tax regime for micro-enterprises – New tax rates have been implemented for micro-enterprises, determined based on turnover and field of activity. Thus, the tax is 1% for micro-enterprises with revenues under 60,000 euros that do not carry out specific activities, and 3% for those that exceed this limit or are involved in certain fields such as IT, HoReCa, and legal services​.

• ANAF fiscal calendar for October – ANAF has published the deadlines for tax declarations for October 2024. Among these are deadlines for the submission of the VAT declaration and other tax obligations, relevant for companies and individuals registered for tax purposes​

These changes highlight the efforts of the authorities to enhance tax compliance and optimize the legislative framework to support the business environment in Romania.