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New amendments to form 394 in Romania | News Flash

26 Jan 2016

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New amendments to form 394  in Romania | News Flash

We would like to draw your attention to the major modifications regarding Informative statement 394 regarding domestic supplies of goods/services and acquisition made by taxable persons registered for VAT purposes in Romania. The new-introduced changes will be valid as of 01.04.2016.

  • Order no. 3769/2015 brings substantial amendments to the current informative statement 394 which must be submitted by taxable persons registered for VAT purposes in Romania, which perform domestic operation subject to VAT, including for periods in which no operation subject to this statement were not performed;
  • Taxable persons registered for VAT purposes in Romania will have to report in the new statement all the domestic operations carried out in the reporting period (month, quarter, etc.) subject to Romanian VAT based on each VAT rate (20%, 9% or 5%) and applicable VAT system (normal or VAT cash accounting system);
  • Besides classical domestic operation carried out with Romanian VAT registered taxable persons (local sales/acquisitions of goods/services subject to VAT, including operations subject to simplification measures, advance payments or operations subject to VAT cash accounting system), in the new reporting 394 statement, operations carried out by taxable person for which receipts/simplified invoices are issued/received, including issued self-invoices have to be reported. In addition, acquisitions made from individuals/taxable persons not registered for VAT purposes Romanian have to be reported, irrespective if those transactions are carried out based on invoices, acquisition dockets or notebook for marketing of agricultural products;
  • The new declaration 394 will include information regarding the invoice numbering used by the company, canceled/reversed invoices or number or  self-invoices issued in the reporting period. If the taxable persons opts to request at reimbursement the VAT, must indicate which type of acquisitions and supplies carried out in the reporting period;

The new enactment is applicable starting with 1st of April 2016, therefore the amendments will enter into force for the informative statements submitted starting with March 2016 period.

We draw attention to the fact that for taxable persons liable to submit monthly informative statements for January and February 2016 periods will use and submit the old format and resubmit on the new format, no later than 25th of April 2016.

Can we help you further? Contact us!

Contact:

Matei Horia

Senior Tax Consultant

Matei.Horia@accace.com

+40 314050440


Read more about other legislative changes in Romania and CEE:
  • 2016 Tax Guideline for Romania
  • 2016 Overview: Doing business in Central and Eastern Europe

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About Accace

Originally established in Central and Eastern Europe in 2006, Accace ranks among the leading outsourcing and consultancy providers in the region. Engaging over 600 experts, we have vast experience with handling small to large scale, multi-country outsourcing projects and providing a comprehensive range of our services to over 2,000 customers.

About Accace Circle

Accace operates internationally as Accace Circle, a co-created business community of like-minded BPO providers and advisors who deliver outstanding services with elevated customer experience. Covering almost 40 jurisdictions with over 2,000 professionals, we support more than 10,000 customers, mostly mid-size and international Fortune 500 companies from various sectors, and process at least 170,000 pay slips globally.

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