With the implementation deadline set for January 1, 2024, the adoption of the e-Invoice system in Romania marks a major change in how B2B commercial relationships are managed.
This initiative will bring significant advantages in terms of operational efficiency and tax transparency. While both companies and the government must quickly prepare for this transition, the experience of other European countries suggests that the medium and long-term benefits will be substantial.
Gradual Implementation for a Secure Success
The efforts to implement the e-Invoice system in Romania will be carried out gradually to allow both companies and tax authorities to adapt appropriately. At this moment, both companies and the government are in the process of testing and adjusting the necessary systems for electronic invoicing. Expanding tax reporting from goods with fiscal risk to a more generalized approach within three years is an ambitious goal, agreed upon with the European Commission based on the results in Italy. This transition is based on the successful model of the European Union, where implementation took place in approximately two years, significantly impacting efficiency.
Key Benefits of the e-Invoice System
The main objectives of monitoring through the RO E-Invoice platform are preventing and combating tax fraud, improving tax transparency, and supporting VAT deduction. This system will enable the rapid identification of discrepancies in data and their sources, facilitating the VAT deduction process. Data collected according to the European standard will be used to create risk profiles and generate predictability reports regarding compliance and tax collection.
In the medium term, the benefits generated by the system will include streamlining international cooperation, reducing the VAT gap, and better tax risk management. Companies have quickly adapted to the new requirements, thanks to multiple simplifications and the availability of suitable technological solutions.
Nexia ABS: The Ideal Partner in this Transition
With significant investments in IT systems and staff training, implementing the e-Invoice system may seem overwhelming for many companies. In this context, an ideal solution, especially for new companies, would be to rely on specialized tax services. The Nexia ABS team possesses the expertise needed to support companies in operations related to the implementation of the e-Invoice system, ensuring a smooth and efficient transition. For additional information and personalized support, please do not hesitate to contact us!
The implementation of the e-Invoice system represents a necessary and beneficial change in the tax landscape in Romania. While the adaptation process may seem complex, the medium and long-term benefits will be significant, contributing to more efficient international cooperation, increased tax transparency, and more effective tax risk management. Companies now can prepare for this tax revolution with the support of trusted partners, such as the Nexia ABS team.
For more details, follow these links: https://mfinante.gov.ro/web/efactura and https://www.anaf.ro/anaf/internet/ANAF/despre_anaf/strategii_anaf/proiecte_digitalizare/e.factura/!ut/p/a1/jZDBCoJAEIafxqv7qynWzaI0C1JB1L2Ehq2CuqKWr596Sihrb7Pzfcw_QygJCa3iZ87iLudVXIw11a6WZGmWrMu2fnB3cD3pvDdOAC7yAETvACwXcNXt0VNNB1grc3_eNlf44UP7z8eXZ-BX_oDQpRHTBovAGHECFjLYhLKCJ9M9I6NKFJ0R2qT3tEkb8dEM31nX1e1GgIC-70XGOStS8cZLAZ-UjLcdCeckqUvfD5E7ZaC3Lyu4tE0!/dl5/d5/L2dBISEvZ0FBIS9nQSEh/