Financial-Accounting Obligations from 01.01.2025

1. The e-Invoice system

Extended obligation: The use of the RO e-Invoice system becomes mandatory both in B2B (business-to-business) relationships and in B2C (business-to-consumer) ones. Thus, all invoices issued to individuals or entities for operations with the place of delivery or provision in Romania will have to be transmitted through this system.

Identification of individual beneficiaries: The introduction of the personal identification number (CNP) on invoices becomes optional. If the individual beneficiary does not provide a tax identification number, the invoice will include a code made up of 13 zeros instead.

Simplified invoices: Simplified invoices, other than fiscal receipts, will have to be transmitted through the RO e-Invoice system, eliminating previous exceptions.

CPV codes for public procurement: Invoices issued based on public procurement contracts will have to include the corresponding CPV (Common Procurement Vocabulary) codes from the public procurement nomenclature.

2. The e-VAT system

Postponement of reporting obligations: The obligation for taxpayers to transmit the results of the checks performed regarding the differences communicated by ANAF through the "RO e-VAT Compliance Notification" is postponed until July 1, 2025. Also, the penalties for non-compliance with this obligation are postponed until the same date.

3. The e-Transport system

Postponement of implementation for authorized operators: The entry into force of the national e-Transport system for authorized economic operators is postponed until March 31, 2025.

4. The Accounting Law

Submission of financial statements: Annual financial statements must be submitted by May 31 or April 30, depending on the reporting entity's category for the financial year following the reporting year. If these dates fall on non-working days, the deadline will be extended to the first working day thereafter.

Electronic submission: Starting with the financial year of 2025, annual financial statements and accounting reports will be submitted exclusively in electronic format, according to the specifications published on the ANAF portal.

Monthly trial balance: The obligation to prepare a monthly trial balance is introduced to ensure a clear view of the financial situation in real time, useful for both management and potential audits.

5. Profit and income tax

Exemptions from the minimum turnover tax: Taxpayers who owe specific taxes on turnover, such as credit institutions or legal entities in the oil sector, are exempt from the minimum turnover tax.

Encouragement of agricultural land consolidation: To develop domestic agriculture, a non-taxable income has been established to incentivize the consolidation of land, provided that no compensation is paid and the activities carried out are intended for agriculture, without gaining profit from consolidation.

6. Income from pensions obtained abroad

Taxation at 10%: Income from pensions obtained abroad will be taxed at 10%, after deducting a non-taxable monthly amount of 3,000 lei.

7. Income from the rental of assets (rents)

Declaration and payment obligations: If the income from rents is paid exclusively in kind or in advance for periods after January 1, 2024, the owner is required to declare and pay income tax by submitting the Single Declaration by May 25 of the year following the year in which the income was realized.