The Romanian tax authorities published the draft requirements regarding the introduction of SAF-T in Romania, and we mention below the main information published in the second draft, dated 16 September 2021.
The aim of the tax authorities is to perform some electronic verifications, without having to carry out fiscal controls or inspections at the taxpayer’s headquarters.
The implementation of this standard presupposes the obligation of the taxpayer to submit a declaration containing information from the fiscal and accounting records, respectively the informative declaration D406, an XML-based electronic file.
Among other things, SAF-T will contain the following:
All Romanian legal entities and units without the Romanian legal personality of foreign legal entities, which have the obligation to prepare double-entry accounting, are obliged to submit SAF-T.
Other entities are also required to submit SAF-T, such as Romanian permanent establishments of foreign legal entities, associations and non-resident companies registered for VAT purposes in Romania.
SAF-T will be submitted monthly or quarterly, depending on the VAT fiscal period, and, for entities without a VAT code, the reporting will be conducted quarterly.
The following proposals have been mentioned as the implementation date for SAF-T:
Although it is not clearly specified, it seems that non-resident companies registered for VAT purposes in Romania would be required to submit SAF-T starting from 1 January 2025.
It is proposed that the reportable information within SAF-T for non-Romanian taxpayers registered for VAT purposes in Romania, with no obligation to prepare Romanian accounting, is the following:
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