Accounts payable

The Minister of Finance, Mr. Sinisa Mali announced that from January 1, 2022, all legal entities in the public sector will have the obligation to receive, store and issue electronic invoices; this obligation will be gradually introduced to the private sector for which electronic invoicing will be mandatory from January 1, 2023.

The finance ministry in the third quarter of 2019 will launch a pilot programme regarding the electronic declarations of invoices and companies' bookkeeping.

The aim is to create a framework for the mandatory electronic submission of invoices and bookkeeping for all businesses and freelance professionals, as of 1 January, 2020.

Seven out of 10 companies in Romania postpone the payment of their invoices, while the average duration to cash an invoice at the level of the economy reached almost 120 days, a poll-based select analysis says.

British pensioner John Jukes, aged 70, had been saving money for a trip to Greece following weeks of physically and psychologically draining chemotherapy treatment. His chance for the trip disappeared after he was attacked and robbed in broad daylight in Cheltenham.

The Finance Ministry granted on Friday a two-week extension for the electronic submission of income tax declarations, so the new deadline for some 2 million taxpayers who are yet to submit their statements is July 14.

The original deadline was for June 30.