Romania: Tax Agency Enforces Reporting Changes for Cross-Border Payments
On March 13, the Romanian Tax Agency introduced Law No. 33/2024, amending reporting obligations for cross-border payment service providers (PSPs) to combat VAT fraud. The law incorporates measures such as transposing EU Council Directive 2020/284, defining terms, establishing recordkeeping requirements for PSPs making at least 25 cross-border payments to the same payee in a calendar quarter, and mandating electronic record maintenance for three calendar years.
Additionally, it sets the reporting period for quarterly electronic records and requires a centralizing document in cases where price reductions are not directly granted to customers to adjust the tax base. The law, effective March 16, mandates compliance with these measures for cross-border payment service providers to combat VAT fraud.
Source: anaf.ro
