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e-Factura
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As of January 1, 2024, economic operators are obliged to report all invoices issued in the national RO e-Factura system, both for B2B transactions (between legal entities) and for those with public institutions. Launched in March 2020 by the Romanian government, it was inspired by the success of the Italian e-invoicing model. This significant change imposed by tax authorities comes as part of a wider effort to combat tax evasion and improve financial transparency. Every company will have to issue and receive invoices exclusively in electronic format, according to the standards imposed by the ANAF.
What is e-Factura
e-Factura is an electronic invoicing system introduced by the tax authorities to facilitate and automate the process of issuing, transmitting and storing invoices. This system offers multiple benefits for businesses, including reducing human error, saving time and ensuring compliance with tax regulations. In addition, the use of e-Invoice helps the environment by reducing paper consumption. Proper implementation is essential for your business' operational efficiency and tax compliance.
Digital signature
For an electronic invoice to be valid, it must be digitally signed. The digital signature guarantees the authenticity and integrity of the document, ensuring that the invoice has not been altered after it has been issued. The process of obtaining a digital signature involves purchasing a digital certificate from an authorized provider. This is an essential step in the implementation of e-invoicing, as without a digital signature, invoices issued will not be recognized by tax authorities.
The digital signature serves as an electronic seal that confirms the identity of the issuer and ensures that the document is original and has not undergone unauthorized alterations. Using a digital signature prevents fraud and protects both the issuer and the recipient of the invoice. In addition, the implementation of this system contributes to increasing confidence in electronic business transactions and simplifies audit and tax verification processes.
SPV enrolment
In order to use e-Factura, companies must enroll in the Virtual Private Space (SPV) offered by ANAF. The VPS is an essential online platform, facilitating electronic communication with tax authorities. Enrolment in the VPS is crucial to reap the benefits of e-Factura, ensuring the secure and efficient transmission and receipt of invoices. The enrollment process involves creating an account on the ANAF platform and following detailed instructions for authentication and correct use of the system. Ensuring compliance and unhindered access to e-Factura benefits starts with proper enrollment in the VPS.
Choosing an invoicing software
Selecting an e-Invoice compatible invoicing software is vital to ensure a smooth implementation. There are many options on the market, each offering different functionality and levels of support. Good invoicing software should allow integration with existing accounting systems, be easy to use and provide regular updates in line with legislative changes. It is also important that the software you choose offers fast and efficient technical support so that any problems can be resolved promptly.
Implementing e-Invoice may seem complicated at first, but with the right support, the process can become much simpler. From obtaining a digital signature, enrolling in the SPV, to choosing the right invoicing software, every step is crucial to the success of your business. If you are experiencing difficulties or need implementation assistance, our team of IT experts are here to help. Contact us today for professional IT support to ensure your business is compliant with all current tax requirements.
You can contact us by phone on 031 433 73 60, email or by filling in the contact form below. Don't let the complexities of implementing e-Invoice affect your business - turn to us for a fast and efficient solution. Our team is ready to give you the support you need to make the transition to e-Invoicing as smooth and seamless as possible.