Romania SAF-T introduction 2020
- EU VAT
- Jun 13, 2019 | Richard Asquith
Romania’s tax authority, Agenția Națională de Administrare Fiscală (ANAF), is to introduce Standard Audit File for Tax (SAF-T) VAT transactional reporting by the end of 2020.
Romania is planning to make the transactional data exchange regime mandatory for all VAT registered businesses – resident and non-resident. It is likely though to start a pilot with large tax payers first, possibly at the start of 2020. In the mid-term, ANAF wishes to reduce the number of VAT-related returns on the basis of improved information from SAF-T.
ANAF has been backed by an EU funding grant.
SAF-T was developed by the OECD in 2005 as a standard schema for the exchange of transaction data for VAT and other tax reporting purposes. The aim was to have a harmonised data exchange format internationally to help companies efficiently exchange information with the tax authorities. It has been adopted in seven European countries, including: Portugal; Austria; Luxembourg; France; Poland; Lithuania; and Norway. Hungary is looking to be the eighth country in two years’ time. Poland has already announced plans to drop the requirement for VAT returns, replacing it with SAF-T submissions.
Latest Romanian news
January 25, 2019
The European Commission (EC) has proposed switching from unanimous to majority voting on EU VAT and other tax policies. The aim is to progress fiscal reforms which face immovable opposition from just a limited number of member states.
January 09, 2019
The EU VAT Directive has been updated from 1 January 2019 to introduce a voluntary generalised reverse charge measure on domestic transactions in member states.
December 28, 2018
Following agreement by EU member states to permit cutting the VAT rate on e-books and online journals to match the reduced/zero rating permitted on their paper-based equivalents, the following countries have already announced reductions...
Sign up for our free newsletter stay up-to-date with the latest tax news.
Sign-up to VAT Voice, Avalara’s monthly round-up about VAT and legislation updates to help you stay ahead of the curve.