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eFactura Updates - Detailed Guide

Link ANAF 🔗 mfinante.gov.ro/static/10/Mfp/ghidE-FACTURA.pdf

Considering the gravity of the implications arising from the new mandatory billing system in Romania and the numerous inquiries from our clients, we have decided to outline the aspects that affect you and what you need to do to successfully navigate this new bureaucratic step established by authorities.

eFactura system is an integral part of Romania's strategic digitalization project and will drastically change the way transactions occur between entrepreneurs, freelancers, regardless of their organizational form, and between them and state institutions. The system is not entirely new, having been implemented since 2020 for transactions between various types of businesses and governments, becoming widespread from 01.01.2024.

Who is required to issue invoices in the RO eFactura system?

In short, everyone who issued invoices until now, if the place of delivery of goods/services is in Romania (companies, sole proprietors, or any other entities, whether or not they are VAT payers). eFacturas are issued only to legal entities (B2B) and state institutions (B2G). There is no obligation to transmit eFacturas for invoices issued to individuals, except for tourist services paid with holiday vouchers (for which an eFactura must be transmitted).

According to the legislation, we have identified 2 main stages in which this system will operate during the year 2024.

Stage I: 01.01.2024 – 30.06.2024

  • All invoices continue to be issued as before, with the obligation to report all issued invoices in the RO eFactura system within 5 working days.
  • Invoices from partners in the ANAF virtual private space (SPV) are imported and verified.
  • This is a testing period during which physically issued invoices and those issued through e-invoicing operate in parallel (both are mandatory).

Stage II: After 01.07.2024

  • The reporting system becomes an invoicing and receiving system.
  • All issued documents must be transmitted within 5 working days in the RO eFactura system.
  • You need to download invoices from your suppliers from this system.
  • If your supplier has not transmitted the invoice through SPV, you cannot deduct the VAT and expense (it is no longer considered a supporting document).
  • It is crucial to track electronic signatures/evidence of registration in the RO eFactura system, attesting to the successful loading of invoices for each invoice individually (a perceived error in the invoice may result in non-registration in the system).

Who is responsible for issuing invoices?

ENTREPRENEUR – these must be transmitted within 5 days. In short, it should be the same person who has been issuing invoices regularly until now. However, the person responsible for this and bearing the consequences if the RO eFactura system is not used correctly is the entrepreneur.

What fines apply for not using the RO eFactura system?

For the one issuing invoices (for each invoice individually)

  • Large taxpayers: 5,000 lei – 10,000 lei
  • Medium taxpayers: 2,500 lei – 5,000 lei
  • Small taxpayers and individuals: 1,000 lei – 2,500 lei

For the one receiving invoices (after 01.07.2024)

  • The invoice no longer serves as a supporting document, meaning you cannot deduct VAT, profit tax, and dividend tax.
  • If you record an invoice in accounting that has not been transmitted through the eFactura system, you receive a fine equal to the VAT.
  • No fines are imposed for non-compliance with RO eFactura regulations between 01.01.2024 – 31.03.2024.

What should the entrepreneur actually do?

  1. Acquire an electronic signature.
  2. Register with the electronic signature in SPV at ANAF.
  3. Attention, if you don't retrieve your invoices from SPV within 60 days, you won't find them anymore. Hence, archiving all documents is crucial.
  4. Start transmitting all invoices in SPV and track received invoices, if partners have uploaded them in SPV.
  5. Correct errors, provide feedback to suppliers regarding missing invoices, and archive all eFacturas correctly for the long term.
  6. Return to the ANAF IT system until obtaining all signatures. We still don't know how well the ANAF servers will function, but currently, they block at least once a month, considering accountants only submit a few declarations for each company.

PRACTICAL CASE: WHAT HAPPENS IF YOU RECORD AN INVOICE OF 1,500 LEI + VAT WITHOUT AN eFactura?

  • It is no longer a fiscal document, meaning you lose:
    • 285 lei VAT
    • 120 lei dividend tax
    • And if you pay corporate tax, another 240 lei
  • In addition, you pay a fine of 285 lei for recording the document without having an eFactura. In total, an invoice of 1,500 lei costs you 690 lei if you pay micro-tax or 930 lei if you pay corporate tax.
  • Consider that tax authorities can come for an audit in 3 or 4 years and ask for documents from the last 5 years. This is why you cannot afford to play with the correct archiving of all eFacturas in the long term.

Link ANAF 🔗 mfinante.gov.ro/static/10/Mfp/ghidE-FACTURA.pdf

https://mfinante.gov.ro/static/10/Mfp/ghidE-FACTURA.pdf