Global Daily Tax News, Romania Launches New Simplified E-Invoicing Application, (Mar 15, 2024)

Romania's Finance Ministry has launched a new simplified electronic invoicing application, aimed at small taxpayers.

The application is free and is intended to be simple and intuitive, aimed at around 670,000 small businesses registered for VAT.

The launch of the tool responds to requests from taxpayers during consultations held after the implementation of Romania's new electronic invoicing program.

Romania has also translated into English the existing VAT invoicing application, benefiting in particular non-resident taxpayers required to report invoices for goods delivered and services rendered in Romania. The tax agency intends to also translate the simplified application into English in due course.

Romania launched electronic invoicing obligations for business-to-business transactions from January 1, 2024, through "RO e-Factura". Invoices must be transmitted to RO e-Factura within five working days from the date of a supply of goods or services in Romania. From July 1, the deadline will be changed instead to five calendar days.

Although businesses are currently not being penalized for failing to meet the five-working-day reporting deadline, late-reporting penalties will apply from April 1, 2024.