We present a summary of the main amendments and additions to some normative acts with an  impact on the fiscal sphere, brought by GEO 138/2024. 

Government Emergency Ordinance no. 138/2024 on the amendment and completion of  certain normative acts in the fiscal-budgetary field, as well as for the regulation of  other measures 

(Official Gazette no. 1222 of 05.12.2024) 

GEO 138/2024 brings amendments and clarifications to the Tax Code, to other normative acts with  incidence in the fiscal sphere, as well as to the Accounting Law: 

Tax Code 

Supplementary turnover tax: 

• Taxpayers subject to the supplementary turnover tax regulated by art. 46^1 and 46^2 of the Tax Code are exempt from the application of the provisions of Article 18^1 (minimum turnover tax),  regulating the fact that economic operators who owe additional tax (i.e., credit institutions and  economic operators with activity in the oil and natural gas sectors) are exempt from paying the  minimum turnover tax for the period for which they owe the supplementary tax. 
• In the case of tax groups, the provisions of art. 46^1 and 46^2 are applied accordingly by each  member of the tax group, depending on the individual situation. 

Income tax: 

• Income obtained from the transmission by documents for the cause of death of the de facto  possession noted in the land registry by the author of the succession is not considered taxable  income; 
• A new obligation is introduced for legal persons keeping accounting records which rent a property to issue at the request of the owner/beneficiary a document attesting the amount of income tax  withheld and paid to the state budget; 
• A new exception is added regarding the calculation of income obtained from abroad – 10% tax  from which the monthly non-taxable amount of 3000 RON is deducted on certain categories of  pensions obtained from abroad; 

Value Added Tax: 

• Starting with January 1, 2025, a new mandatory section is introduced in the simplified invoices  (art. 319, paragraph 21) – „f) the VAT registration number or the tax identification number of the  beneficiary, if he is a taxable person or a non-taxable legal person.”; 
• The rules regarding the issuance of invoices are amended by introducing the obligation to issue  a self-invoice by the taxable person obliged to pay the tax according to the article on simplification measures, in situations where the taxable base is adjusted if the supplier does not  issue a correction invoice. 
• A new obligation is introduced for taxable persons to issue a self-invoice if they “make purchases  for which they have deducted VAT, in order to achieve investment objectives within programs of  public or social interest, financed from public funds, which, after receipt, they hand over free of  charge to the beneficiary based on protocol”. 

Excise duty: 

• A new definition is introduced within Art. 356, according to which ‚(1^1) An entity that produces  natural gas for its own use is considered, for the purposes of the application of para. (1), both  producer and final consumer.”; 
• Starting with February 1, 2025, new obligations are introduced for economic operators registered  for the wholesale distribution and sale without storage of alcoholic beverages, processed  tobacco and energy products – gasoline, diesel, lamp oil, liquefied petroleum gas and biofuels and  who wish to sell excise products that are in a tax warehouse; 

Amendments and completions to the RO e-Invoice system 

• Starting with January 1, 2025, invoices issued for operations realised on public service  acquisitions, works and service concessions, as well as those in the fields of defense and security,  will necessarily contain the corresponding CPV codes from the reference nomenclature in the  field of public procurement; 
• Starting with January 1, 2025, amendments are introduced regarding invoices issued in respect  of B2B commercial relationship, thus the following are exempt from transmission in the RO e Invoice system: tax receipts that meet the conditions of simplified invoices, as well as invoices  issued for intra-community supplies of goods, for which the beneficiary, the taxable person  established in Romania, communicates a VAT registration code from another member state; 
• The exception regarding the issuance in the RO e-Invoice system of the tax receipts is also  introduced for the B2C relationship; 
• Clarifications are made regarding the issuance of invoices in the RO e-Invoice system, so in the  case of deliveries of goods/services to a natural person that does not identify itself with personal  identification number in relation with the supplier, the invoice will be issued using a code  consisting of 13 digits of zero instead of the beneficiary’s tax registration number. 
• Starting with January 1, 2025, the obligation of affiliated units (authorized economic operators  with tourism activity in Romania, authorized) to transmit the invoices issued to the owners of  holiday vouchers to the RO e-Factura system is abrogated. 

The pre-filled RO e-VAT return: 

• The entry into force of the provisions regarding the obligation for taxpayers to submit the result  of the verifications carried out on the differences communicated by the tax authority through the “Notification of RO e-VAT compliance” and the consequences arising from the non-fulfillment of  this obligation is postponed until July 1, 2025. 

RO E-transport  

• The exception regarding the entry into force of contraventions committed by economic operators  classified as authorized economic operators, obliged to declare in the RO e-Transport system the  data related to international transport of goods, is extended until March 31, 2025. 

Accounting Law: 

• In order to verify that the operations carried out are correctly recorded in the accounts, a monthly  trial balance will be drawn up. 
• Clarifications are made regarding the submission deadlines for the Financial statements, as  follows: 
  • a) companies regulated by the Companies Law, national companies, autonomous  companies, national research and development institutes, subunits without legal  personality in Romania that belong to legal persons with headquarters abroad, except for  subunits opened in Romania by companies resident in states belonging to the European  Economic Area, submit the Financial statements/Accounting reports until May 31 of the  financial year following the reporting year;  
  • b) the other legal entities, submit the Financial Statements until April 30 of the financial  year following the reporting year.  
• If the last day of submission of the annual financial statements falls on a non-working day, then  the deadline for submission will be the first working day; 
• For entities that have opted for the financial year different from the calendar year, the deadlines  for submitting the annual financial statements remain valid for the deadlines of 150 and 120 days  from the end of the chosen financial year.

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For additional details regarding the above, you can contact any member of the Taxhouse team or you can send us an e-mail at office@taxhouse.ro.