What is RO e-Factura? Find out more about what RO e-Factura entails and how it can help you streamline your invoicing processes.
From 2024, according to the Emergency Ordinance No 120/2021 on the administration, functioning and implementation of the national e-invoice system RO e-Factura and e-invoicing in Romania, all companies will be obliged to issue invoices exclusively via the RO e-Factura system within a maximum of five days from the date of issue of the invoice.
Specifically, all companies, such as PFA, SRL, SME, II and FI, are obliged to use only e-invoices when transacting with each other. And, in other words, all invoices must be created and managed via RO e-Invoice - a simple and efficient way to issue and receive invoices.
So it's time to get ready! Banqup is here to give you all the information you need and make the transition to e-Invoice as simple and efficient as possible.
RO e-Factura is an electronic system for issuing and transmitting invoices to ANAF, in the form of an XML file, containing specific and coded information and allowing tax authorities to accurately monitor the collection of VAT and other taxes. Thus, through e-Invoice ANAF can access, in real time, information about invoices issued between companies.
Currently, in Romania, 99.8% of electronic invoices sent to ANAF are validated instantly, without errors.
To prepare for the implementation of electronic invoicing, it is essential:
Make sure that you have created a SPV (Virtual Private Space ANAF) account in your company's name as legal representative (both you and your accountant must have SPV accounts - you as the owner and the accountant as the authorised representative).
Register in the RO e-Factura Register.
Now that you know what you need to do, opt for Banqup to make it easy to register and manage your e-invoices!
By integrating with ANAF Banqup ensures that all tax data and documents generated and submitted are in line with current tax requirements and eliminates the risk of errors, ensuring that invoices issued are valid.
Banqup facilitates the process of sending invoices to ANAF by processing invoices and sending them automatically in the technical XML format required by ANAF, which are then validated in SPV. With Banqup you ensure that your documents are fully compliant with the authorities' tax requirements.
With Banqup, you benefit from a secure archive that automatically stores documents for 10 years, starting from the end of the financial year in which they were issued.
Banqup offers 3 packages, each with specific benefits, which can be customised on request. Whether you are a small, growing business or a large corporation, Banqup has a solution to meet all the administrative needs of small and large companies.
Up to 50 documents
per month
Start 100% digital administration quickly and easily
per month
100% digital administration with integrated payment solution.
per month
Penalties for failure to submit e-invoices in RO e-Factura will be applied in two phases, according to the timetable for the transition to the widespread use of this system in B2B relations.
The draft fiscal measures, sent for promulgation, establish the following:
First phase, between 1 April and 30 June 2024: issuers who do not submit e-invoices in e-Invoice within five working days may be fined between 1.000 to 10.000 lei;
Second phase, from 1 July 2024: only e-invoices sealed by the Ministry of Finance, after their transmission to e-Invoice, will be recognised as original documents with fiscal effects. Recipients will be liable to penalties if they accept invoices from issuers in a format other than that established for the RO e-Factura system.
At Banqup, we strive to simplify payments and invoicing, eliminating day-to-day tasks and digitising processes for you.
