Ministry of Finance introduces e-invoicing between companies and public institutions from September

Florin Citu

Businesses will be able to use an electronic invoicing system to upload, store and download the invoices they issue in their dealings with public institutions from September 2021, Prime Minister Florin Cîțu, currently acting Finance Minister, announced on Monday.

The measure will be implemented by the Ministry of Finance, through the National Centre for Financial Information, as part of a pilot program, he said.

According to Florin Cîțu, this is the first stage in the development of the electronic invoicing information system, which is to be generalized in relations between all economic operators.

The implementation of the mandatory e-invoicing system, both between economic operators and public institutions and in relations between economic operators will mean:

  • efficiency and predictability in the spending of money by public institutions;
  • increase revenue collected to the national budget.

Florin Cîțu promised the introduction of electronic invoicing last year, when he was Minister of Finance. In a press conference in September 2020, he said: “It will be possible to pay all taxes through ghișeul.ro. For next year, I maintain my objective of increasing revenue to the budget, and the implementation of e-invoicing, after we connect the cash registers (to ANAF servers) at the end of this year, will bring 20 billion lei more to the budget next year. This is an ambitious target.”

The adoption of e-invoicing in Romania would save the state budget around €100 billion in 10 years by reducing VAT fraud and improving tax collection, as well as getting out of the infringement risk Romania is in because it has not implemented EU Directive 55/2014 on e-invoicing in public procurement, which had a deadline of 19 April 2019, the Electronic Invoicing Association recently said.

E-invoicing, as defined by the European Commission, means the transmission of invoice data between computer systems in a form that can be validated and processed automatically.

“It is essential for Romania’s economic and fiscal environment to digitise the way commercial transactions are tracked through real-time reporting to ANAF of issued invoices and their validation by the buyer. This process can be done by introducing electronic invoicing on a large scale in the Romanian economy, without creating additional effort and costs for the taxpayer”, said Daniel Homorodean, President of the Association.

Around 800 thousand companies in Romania will be able to get rid of the risk and cost of sending and receiving invoices by paper or e-mail. VAT refunds will be much quicker, automatically or at the click of a button. The 20,000 public institutions will dramatically reduce the risk of inconsistencies between tax documents, which will lead to a more balanced Romanian tax system.

Translation: Service For Life S.R.L.

Sursa foto: Inquam Photos/Octav Ganea

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