Romania VAT guide

Requirement to register for VAT

Established Entities: Taxable person that has its seat, place of business or fixed establishment in RO is obliged to register for VAT, if its threshold exceeded a turnover or RON 300,000 a year. Such entity is obliged to submit a registration form within 10 days from when the threshold was exceeded.

Non-established Entities: A Non-established Entity is obliged to register for VAT if it performs an intra-Community acquisition of services or goods.

Invoicing requirements in Romania

An invoice must contain the following particulars:

• The serial number, within one or several series, which identifies the invoice in a unique manner
• Date of invoice issue
• Date on which the goods/services were supplied or the date of receiving an advance payment (Provided that this date is prior to the invoice issuing date)
• The name, address, and VAT registration number or, depending on the case, the fiscal identification code of the taxable person who supplied the goods or services.
• The name of the supplier who is not established in Romania and who appointed a fiscal representative for himself, as well as the name, address and VAT registration number, according to art. 316, of the fiscal representative
• The name and address of the beneficiary of the goods or services, as well as the VAT registration number or fiscal identification code of the beneficiary, if the latter is a taxable person or non-taxable legal person
• The name of the beneficiary who is not established in Romania and who appointed a fiscal representative for himself, as well as the naming/name, address and registration number stipulated in art. 316 of the fiscal representative
• The name and the quantity of the supplied goods and services, as well as the particulars stipulated in art. 266 par. (3) in defining goods, in case of intra-Community supplies of new means of transport
• The taxable amount of the goods and services or, according to case, the invoiced advance payments, for every rate, exemption or non-taxable operation, the unit price, without tax, as well as rebates, deductions, discounts and other price reductions, provided that these are not included in the unit price
• The indication of the applied tax rate and the amount of tax collected, expressed in Romanian Lei, depending on the tax rates

Additional References to be included

• Where the invoice is issued by the beneficiary in the name and on behalf of the supplier, include the reference ‘Self-invoice’.
• If a tax exemption is applied, include the reference to the applicable dispositions from this title or from the Directive 112 or any other note showing that the supply of goods or services is subject to an exemption
• If the customer is the person liable for the remittance of VAT, include the reference ‘reverse charge’
• Where the margin scheme for travel agents is applied, include the reference ‘margin scheme – travel agents’
• Where one of the special arrangements applicable to second-hand goods, works of art, collectors’ items and antiques is applied, include the reference ‘margin scheme – second-hand goods’, ‘margin scheme – works of art’ or ‘margin scheme – collector’s items and antiques’ respectively
• If the VAT becomes chargeable on the date when the payment is received for the full or partial value of the supplied goods or services, include the reference ‘VAT on receiving payment’
• If a reference to other invoices or documents issued previously
• If there are several invoices or documents issued for the same operation, this should also be noted

Returns and deadlines

The periodic VAT returns and payments shall be calculated and paid every month or, in some cases, every quarter.