The Order of the Ministry of Finance (OMF) no. 1447/2023 for the amendment and completion of some regulations on financial-accounting documents was published in the Official Gazette (Part I) no. 453 of 24 May 2023.
We mention that the recently published normative act correlates the recent amendments to the Accounting Law with the provisions contained in the orders of the Minister of Finance issued in its application, regarding the keeping of financial-accounting documents.
In the Approval Memorandum of the normative act, the Ministry of Finance mentions that, until the issuance of Law no. 195/2022 for the completion of Article 25 of the Accounting Law no. 82/1991, both the Accounting Law and the regulations issued in its application provided for a retention period of financial-accounting documents between 5 and 50 years. We emphasise that the 50-year period referred to the salary statements. Thus, by Law no. 195/2022 the provisions on the retention of payroll statements were supplemented in the sense that “starting from 1 January 2023, payroll statements for which the employer has an informative statement on the tax withheld at source, by income beneficiaries, according to the legal provisions or for which the employer has the legal obligation to submit the statement on the obligations to pay social contributions, income tax and the nominal record of insured persons, to the National Tax Administration Agency, shall be retained for 5 years”. Subsequently, by Law No. 36/2023 amending the Accounting Law No. 82/1991, as well as the Emergency Ordinance No. 28/1999 on the obligation of economic operators to use electronic fiscal cash registers, the provisions concerning the keeping of all financial-accounting documents, not only payroll statements, were completely reformulated.
Therefore, according to the current provisions of Article 25 of the Accounting Act: “The mandatory accounting records and supporting documents underlying the entries in the financial accounting shall be kept in the archives of the persons referred to in Article 1 of the Accounting Act for 5 years calculated from 1 July of the year following the end of the financial year in which they were drawn up, including payroll statements.”
Taking into account the above-mentioned aspects, as a consequence of the amendments made to the provisions of the Accounting Law no. 82/1991, by OMF no. 1447/2023, they have been correlated with the provisions contained in the orders of the Minister of Finance issued in its application, regarding the keeping of financial-accounting documents.