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New list of medium taxpayers: SAF-T reporting in Romania
The NAFA (Romanian National Agency for Fiscal Administration) published order no. 2521/2022 on their website.
This approves the list of medium taxpayers that will be administered starting on 1 January 2023. The list can be consulted directly on the ANAF website here.
Companies on this list will have the obligation to submit the informative declaration D406, the SAF-T form starting on 1 January 2023. Important aspects regarding SAF-T reporting are as follows:
Reporting period:
- Until the last day of the month following the reporting period (calendar month/quarter for information other than that regarding stocks and assets).
- Until the deadline for submission of the financial statements related to the financial exercise, in the case of the informative statement D406 – assets.
- Within the term established by the fiscal body, which cannot be less than 30 days from the date of the request, in the case of the informative declaration D406 – stocks.
Sanctions
Failure to submit within the legal term and incorrect or incomplete submission of the SAF-T file will be sanctioned as follows:
- Fine from RON1,000-5,000 in case of failure to submit this declaration within the respective legal deadlines.
- Fine from RON500-1,500 in case of submitting incorrect or incomplete declarations.
Grace period
- There will be 6 months for the first report, respectively 5 months for the second report, 4 months for the third report, 3 months for the fourth report and 2 months for the fifth report, for taxpayers who have the obligation to submit the SAF-T file monthly.
- There will be 3 months for the first reporting for taxpayers who have the obligation to submit the SAF-T file quarterly.
The grace period is calculated starting from the last day of the reporting period for which it is granted and when the transmission obligation becomes effective for the respective taxpayer.
Thus, medium taxpayers, who have the reporting obligation starting from 1 January 2023, will have a maximum deadline for submitting reports until 31 July 2023. This deadline will be valid for the 6 monthly reports from January to June 2023.
SAF-T is a set of monthly information reports, in a predefined format, which lends itself to any type of tax base on accounting records. The documents, based on which the SAF-T should be drawn up are consistent and include data from the Journal Register, the House and Bank Registers, the Fixed Assets Register and the Inventory Register. This file will form the basis of fiscal checks.
Attention must be paid to the IT systems, so they are adapted to provide the necessary information for new reporting.
For more information, please contact:
Name: Nexia ABS financial services
T: +40 732 111015
E : nicoleta.vrajescu@nexia-abs.com
W: www.nexiaabs.com
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