{"id":1766,"date":"2023-06-30T12:17:39","date_gmt":"2023-06-30T10:17:39","guid":{"rendered":"https:\/\/nowium.com\/?post_type=bulletin&p=1766"},"modified":"2023-07-21T15:15:33","modified_gmt":"2023-07-21T13:15:33","slug":"newsletter-no-6-june-2023","status":"publish","type":"bulletin","link":"https:\/\/nowium.com\/en\/bulletin\/newsletter-no-6-june-2023\/","title":{"rendered":"Newsletter no. 6 – June 2023"},"content":{"rendered":"

Access the magazine version of this Newsletter in pdf format: English <\/strong><\/a>or Romanian<\/strong><\/a><\/p>\n

Summary<\/h3>\n
    \n
  1. Generalized application of electronic invoicing starting 2024 (Info<\/a>)<\/li>\n
  2. Correlations and complements to accounting regulations regarding submission of certain information on corporate tax (CbCR) \u2013 (Order 1730\/2023<\/a>)<\/li>\n
  3. Procedure to cancel fiscal obligations through amnesty, where income from other sources and income from gift vouchers may be reclassified (Order 906\/2023<\/a>)<\/li>\n
  4. Complements to Classification of positions in Romania (Order 291\/892\/2023<\/a>)<\/li>\n
  5. Extension of caregiver leave (for sick child through age 12) and related allowance (Law 179\/2023<\/a>)<\/li>\n
  6. Change of the form, Hearing Invitation, <\/em>used as part of the fiscal inspection process (Order 927\/2023<\/a>)<\/li>\n
  7. Draft \u2013 Accounting Report System as of the 30th<\/sup> of June 2023 for economic operators<\/a><\/li>\n
  8. Draft \u2013 Change to VAT Return<\/em> form<\/a><\/li>\n
  9. Draft \u2013 Teleworking for employees having children up to 11 years of age as dependents<\/a><\/li>\n
  10. Draft \u2013 Amendments brought to Procedure to grant fiscal facilities in the agriculture and food industry<\/a><\/li>\n
  11. Draft \u2013 Change to fiscal facilities in the field of constructions<\/a><\/li>\n
  12. Draft \u2013 Change in procedure to apply measures to restructure outstanding fiscal obligations<\/a><\/li>\n
  13. Closing exchange rates for June 2023<\/a><\/li>\n
  14. Social indicators<\/a><\/li>\n<\/ol>\n

    INFO \u2013 Proposal on the derogation granted to Romania by the European Commission to generally apply RO e-Factura system starting the 1st<\/sup> of January 2024<\/span><\/h2>\n

    Summary<\/span><\/h3>\n

    On the 23rd<\/sup> of June, the European Commission published a proposal for a Council Implementing Decision authorising Romania to introduce a special measure derogating from art. 218 and 232 of the VAT Directive, a derogation that would allow Romania to generally apply electronic invoicing starting the 1st<\/sup> of January 2024.<\/p>\n

    Details<\/span><\/h3>\n

    The proposal will have to be adopted by the European Council to become applicable and, following this adoption, Romania will be able to extend application of electronic invoicing (through RO e-Factura system) to all B2B transactions (between taxable entities established in Romania), starting the 1st<\/sup> of January 2024 and by the 31st<\/sup> of December 2026 or by the date when Member States are obliged to apply new amendments to the VAT Directive on the digital era of VAT, specifically to art. 218 and 232 of that Directive.<\/p>\n

    Within 30 days from adoption date, ANAF will prepare an order in which the categories of taxpayers that should switch to mandatory electronic invoicing for B2B transactions and the date from which this obligation applies.<\/p>\n

    The system will remain optional for taxable entities not established in Romania, i.e., for non-residents that do not have a permanent establishment in Romania.<\/p>\n

    As a reminder, the RO e-Factura system is currently mandatory for the following categories of transactions: those carried out for B2G matters (Business-to-Government) – i.e. public procurements, those related to B2B matters, for a series of goods that are defined as goods with high fiscal risk and those for which invoices are issued based on holiday vouchers. For B2B matters, there are currently no defined reporting deadlines or fines for not submitting electronic invoices, but the new regulations could also introduce provisions in this regard.<\/p>\n

    On several occasions, Romanian authorities have stated the intention to extend application of the RO e-Factura system starting the 1st of January, but derogation from the European Commission is mandatory (derogation requested in 2022).<\/p>\n

    We note that Romanian authorities have also requested derogation from art. 178 of the VAT Directive – the right to deduct VAT is granted based on possession of the electronic invoice. This derogation, however, has been waived by the Government of Romania.<\/p>\n

    Article 218 requires Member States to accept as invoices all documents and messages both on paper and in electronic format. Article 232 provides that the use of an electronic invoice is subject to acceptance by the recipient. Consequently, following approval of the derogation, electronic invoices would be sent through the RO e-Factura system, and the issuer of the invoice would no longer need to obtain the recipient’s consent to issue an electronic invoice.<\/p>\n

    The European Commission proposal may be accessed here.<\/a><\/p>\n

    We recommend that you start preparing for implementation of the RO e-Factura system as soon as possible, especially where the degree of complexity and volume of transactions is high, so that on the 1st<\/sup> of January 2024 you will be ready for the transition to the new invoicing system.<\/p>\n

    back to summary \u21d1<\/a><\/p>\n

    Order 1730\/2023 to regulate certain accounting aspects (Official Gazette 559\/2023)<\/span><\/h2>\n

    Summary<\/span><\/h3>\n

    The Order brings a series of clarifications and complements to provisions of accounting regulation OMF 2048\/2022, which implemented requirements to report certain information on corporate tax in annual financial statements of certain enterprises and branches\/subsidiaries. These requirements came from the transposition of provisions of the CbCR (Country-by-Country Reporting) Directive into domestic law.<\/p>\n

    More information about provisions of OMF 2048\/2022 may be accessed here<\/a>.<\/p>\n

    Details<\/span><\/h3>\n

    The new provisions on CbCR were introduced starting the 1st<\/sup> of January 2023 and such information will be reported during 2024, being related to financial statements corresponding to the financial year of 2023.<\/p>\n

    During 2023, some clarifications regarding application of certain provisions contained in (EU) Directive 2021\/2101 of the European Parliament and Council were published on the website of the European Commission, as questions and answers. This information led to the necessity of completing the provisions and incorporating (EU) Directive 2021\/2101 into domestic law.<\/p>\n

    In this context, OMF 1730\/2023 was developed and promoted. This Order complemented provisions of OMF 2048\/2022, bringing certain clarifications which mainly refer to the following aspects:<\/p>\n