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Updates to VAT Cash Accounting System

Romania
17 Oct 2012

According to Article 153 of the Fiscal Code, when a taxpayer wishes to enter or leave the Romanian VAT cash accounting system, they must fill out form 097 in order to notify the relevant parties. Taxand Romania discloses all deadlines for submitting form 097 upon entering / leaving the system.

Deadlines for submitting form 097 when entering the VAT cash accounting system
Form 097 must be submitted by:

  • 25th October 2012: for persons whose turnover during the period 1 October 2011 - 30 September 2012 did not exceed the threshold of RON 2,250,00.
  • 25th January 2013: for persons who register for VAT purposes during the period 1 October 2012 - 31 December 2012 and whose turnover for this period does not exceed the threshold of RON 2,250,000.
  • 25th January 2013: for persons re-registered for VAT purposes according to Article 153, paragraph 91 of the Fiscal Code during the period 1 October 2012 - 31 December 2012, whose turnover for 2012, during the period they were registered for VAT purposes, does not exceed the threshold.
  • 25th January of the current year: for persons whose turnover for the previous year did not exceed the threshold of RON 2,250,000 and who did not apply to enter the VAT cash accounting system in the previous year.

Deadline for submitting form 097 when leaving the VAT cash accounting system
Form 097 must be submitted by:

  • The 25th of the month following the fiscal period in which the person has exceeded the threshold of RON 2,250,000.

Discover more: Romania adapts rules for entering / leaving VAT cash accounting system

Taxand's Take


The introduction of Article 153 to the Fiscal Code will ensure a more efficient VAT cash accounting system. Although this will largely only apply to Romanian SMEs, growing businesses, as well as newly acquired multinational subsidaries, may wish to take note for leaving the system.

Your Taxand contact for further queries is:
Angela Ro?ca
T. +40 21 316 06 45
E. angela.rosca@taxhouse.ro

Taxand's Take Author