Amendment to the Accounting Law

After a long series of public debates, an amendment in relation to accounting reports was adopted and published in the Official Gazette no. 1041 of 6 November 2020, which promulgated the amendment of Article 28(2) of the Accounting Law, as regards the obligation of economic operators to prepare and submit financial statements and accounting reports.

 The Ministry of Public Finance may require that financial statements or certain accounting reports be prepared and submitted to the territorial offices of the Ministry of Public Finance at other intervals than annually, within the financial year, only by persons with a turnover higher than the RON equivalent of EUR 1,000,000 at the end of the preceding financial year.

Please note

Persons who had a turnover higher than the RON equivalent of EUR 1,000,000 at the end of the preceding financial year may submit financial statements or accounting reports at other intervals than annually, i.e. on 30 June.

Submission by Law 238/2020, the Parliament of Romania adopted measures on the preparation of financial statements and accounting reports.