In the Official Gazette with number 677 of 24 July 2023 was published the MF Order no.2195 of 12 July 2023 for the approval of the accounting reporting system as of 30 June 2023 of economic operators.
The Accounting Reporting System as at 30 June 2023 for economic operators, contained in the Annex which forms an integral part of this Order, is hereby approved.
The accounting reporting system as at 30 June 2023 of the economic operators provided for in Article 1 shall apply to the entities to which the Accounting Regulations on individual annual financial statements and consolidated annual financial statements, approved by the Order of the Minister of Public Finance no. 1.802/2014, with subsequent amendments and additions, apply and which in the previous financial year recorded a net turnover greater than the equivalent in RON of 1.000.000 euro.
The accounting reporting system as at 30 June 2023 of the economic operators referred to in Article 1 shall also apply to persons to whom the Accounting Regulations in accordance with the International Financial Reporting Standards, approved by the Order of the Minister of Public Finance no. 2.844/2016, as amended and supplemented, apply and who in the previous financial year recorded a net turnover greater than the equivalent in lei of 1.000.000 euro.
The provisions of this Order shall apply to economic operators whose financial year is different from the calendar year.
For the preparation of the accounting reports as at 30 June 2023, the criteria set out in paragraph (1) and paragraph (2) shall be determined on the basis of the indicators determined from the annual financial statements of the previous financial year, respectively the trial balance closed at the end of the previous financial year, using the exchange rate communicated by the National Bank of Romania, valid at the closing date of the previous financial year. The same provisions apply to entities that have opted for a financial year different from the calendar year, according to the Accounting Law no. 82/1991, republished, with subsequent amendments and additions.
The persons covered by this Order are referred to herein as entities.
For the purpose of establishing the accounting reporting forms as at 30 June 2023, economic operators applying the Accounting Regulations on individual annual financial statements and consolidated annual financial statements, approved by Order of the Minister of Public Finance No. 1.802/2014, as amended and supplemented, shall take into account the criteria set out in point 9 of the said regulations.
Indicators total assets, net turnover and average number of employees, by which determine the applicable forms for accounting reporting, shall be determined on the basis of the annual financial statements for the financial year previous financial year. The same provisions apply to entities that have opted for a financial year other than the calendar year, in accordance with the Law 82/1991, republished, with subsequent amendments and additions.
In the case of legal entities that have sub-units without legal personality, the activity carried out by them shall be summed up by the legal person who draws up the accounting report as at 30 June 2023.
In order to provide information to the institutional system of the State, the provisions of this Order shall also apply to sub-units in Romania belonging to legal entities established abroad, as well as to permanent establishments in Romania belonging to legal entities established abroad, irrespective of the financial year chosen, in accordance with the law.
The sub-units opened in Romania by companies resident in countries belonging to the European Economic Area shall verify their compliance with the criterion provided for in Article 2 on the basis of the indicators determined according to the annual accounting report as at 31 December 2022.
If the legal person with its registered office abroad carries out its activity in Romania through several permanent offices, the accounting reports required by the Accounting Law no. 82/1991, republished, with subsequent amendments and additions, shall be prepared by the permanent office designated to fulfil the tax obligations, reflecting the activity of all permanent offices. For this purpose, the designated permanent establishment shall proceed to the aggregation of the information corresponding to the activity carried out by each permanent establishment.
Foreign legal entities having their place of effective management in Romania are not subject to accounting reporting as at 30 June 2023.
The reporting obligations established by this Order do not remove the obligation of economic operators with capital/assets wholly or majority owned directly or indirectly by central or local public authorities to make the reports provided for by their applicable legislation.
Entities falling within the scope of accounting regulation of the National Bank of Romania and the Financial Supervisory Authority shall submit to the territorial units of the Ministry of Finance accounting reports as at 30 June 2023 in the format and within the deadlines provided for by the regulations issued by the National Bank of Romania and the Financial Supervisory Authority.
The provisions of this Order shall enter into force on the date of publication.
On the date of entry into force of this Order, the Order of the Minister of Finance no. 1.669/2022 for the approval of the Accounting Reporting System as at 30 June 2022 of economic operators, published in the Official Gazette of Romania, Part I, no.723 of 19 July 2022, is hereby repealed.