The reporting of e-invoices for all business-to-business (B2B) transactions in the Ro e-Invoice system will become mandatory from January 2024, after the European Commission implements the derogation proposed by the Ministry of Finance under the EU Proposal for a Decision Council, published on June 23.
The exemption will be valid from 1 January 2024 until 31 December 2026, or until the date when Member States commit to apply all the provisions proposed by ViDA (“VAT in the digital age” – the new VAT legislative package). which makes significant changes to the VAT Directive, which must be transposed into the laws of the Member States), whichever date comes first.
The proposal for an implementing decision of the Authorization Council of Romania aims to introduce a special measure derogating from Articles 218 and 232 of Directive 2006/112/EC on the general system of VAT.
Currently, the VAT Directive stipulates that the use of an electronic invoice is subject to the consent of the recipient. Therefore, the introduction of the electronic invoicing obligation in Romania requires a derogation from this article, so the issuer is no longer obliged to obtain the recipient’s consent to send an invoice in electronic format, these invoices will be issued in a format that requires Ministry of Finance and sent through the national e-invoice system RO.
Read the rest of the article on the PwC Romania blog
The article is signed by Daniel Angel, Partner, Head of Tax, Legal and HR Services, PwC Romania
Article supported by PwC Romania
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.