Mandatory from 1 January: E-INVOICE
It’s official. Law 296/2023 has made it compulsory that from 01.01.2024 invoices will be issued only by reporting them to E-Invoice. This obligation has now been extended to B2B (business to business) relations.
Mandatory reporting of invoices via the e-Invoice system will apply, from 1 January 2024, for all transactions carried out by taxpayers in B2B relations. The law introduces a reporting deadline of 5 days for e-Invoices and penalties for non-compliance. From 1 July 2024, e-Invoice will become the only channel through which invoices can still be sent to recipients.
Until now, this electronic invoicing system has only been applied in B2G (public purchasing) relations. From the beginning of next year this obligation will be extended to other economic operators.
The deadline for submitting invoices to the e-Invoice system is set at five working days from the date of issue of the invoice.
For non-compliance with this reporting deadline, the fine is differentiated according to the size of the taxpayer:
- from 5,000 to 10,000 lei for legal entities classified as large taxpayers;
- from 2,500 to 5,000 lei for legal entities classified as medium-sized taxpayers;
- from 1,000 to 2,500 lei for legal entities classified as small taxpayers and for individuals.
However, during the period from 1 January to 31 March 2024 these penalties will not apply. Thus, if invoices are not reported within 5 working days of issue, the fine will not apply until 1 April 2024.