The Ministry of Finance has recently published for public consultation a draft order amending the rules on semi-annual accounting reports as of June 30, 2025. According to the draft, companies with a net turnover exceeding the RON equivalent of one million euros are required to submit the reports by August 18, 2025.
The reports must be submitted electronically only, via the e-Guvernare.ro portal, as a PDF file with an attached XML, digitally signed with a qualified certificate. This rule already applies for several years to taxpayers exceeding the one million euro turnover threshold.
The obligation applies to:
- taxpayers applying the Accounting Regulations on individual and consolidated annual financial statements (Order MF 1.802/2014) who exceeded the one million euro threshold in the previous financial year;
- taxpayers applying the Accounting Regulations in line with the International Financial Reporting Standards (IFRS) (Order MF 2.844/2016) who exceeded the same threshold.
The one million euro threshold is determined based on the annual financial statements or the trial balance as at the end of the previous financial year, using the exchange rate of the National Bank of Romania at that date. Other indicators such as total assets, net turnover, and average number of employees are also determined based on the previous year’s annual financial statements.
Exempt from the obligation to prepare semi-annual reports are taxpayers who:
- did not carry out any activity from incorporation up to June 30, 2025;
- were inactive throughout the first half of 2025;
- were incorporated during 2025;
- are undergoing liquidation.