Electronic invoicing mandatory in Romania from January, minister says
Romanian minister of finance Marcel Boloş recently stated that a decision by the Council of the European Union regarding electronic invoicing represents "a huge step in combating fraud." He also said that electronic invoicing will soon be mandatory in Romania.
Starting January 1, 2024, electronic invoicing will be mandatory for all transactions between companies, the minister announced.
"The fight against fraud and tax evasion enters a new stage. Thanks to a decision taken today by the Council of the European Union, starting January 1, 2024, electronic invoicing will be mandatory in our country for all transactions between companies," the minister wrote on Facebook.
Marcel Boloş believes that the electronic invoice is a valuable tool for monitoring VAT fraud chains in real-time, "a very important aspect in efforts to increase the collection rate and protect the public budget."
"The fact that electronic invoicing ensures accurate and verifiable recording of commercial transactions facilitates the verification and auditing process. This way, we ensure that transactions comply with tax regulations and have not been manipulated fraudulently," the minister added.
According to him, the implementation of mandatory electronic invoicing will eliminate the possibility of using false or duplicate invoices because each transaction is uniquely recorded.
(Photo source: Gov.ro)