Informative statement on deliveries/ supplies of services perfor
2007-06-05

Informative statement on deliveries/services performance and acquisitions

Starting with January 1^st, 2007, according to article 153 of the Fiscal Code, taxable persons registered for VAT purposes in Romania are required to report all deliveries of goods, supplies of services performed and acquisitions of goods and services performed on the Romanian territory for/by other taxable entities registered for VAT purposes in Romania.

In order to met this obligation, each entity is required to draft the form (394) " Informative statement on deliveries/ supplies of services performed and acquisitions made on the Romanian territory", code MEF 14.13.01.02/f. and to submit it on semestrial basis to the fiscal authority by and before the 25^th of the month following the end of the half-yearly reporting period.

The statement must be submitted only if, during the half-yearly reporting period, have been realized those operations that make the object of the reporting obligation.

This statement must be submitted for:

• any VAT- able delivery/supply of services performed (applicable tax rate of 19% or 9%) for which the supplier is requested to issue a fiscal invoice, inclusively for advance payments, and it must comprise all invoices issued during the half-yearly reporting period;
• all VAT-able acquisitions of goods or supplies of services performed (applicable tax rate of 19% or 9%) and it must comprise all issued invoices during the half-yearly reporting period; This statement must not be submitted in the case of invoices issued by means of the self-invoicing method or in the case of operations to which applies the reverse-charge mechanism.

This statement must contain all issued/received invoices, cumulated according to the VAT registration codes of the business partners. Accordingly, the "Total taxable basis" column shall be filled in with the taxable basis, exclusive of VAT, related to all acquisitions, respectively to all deliveries of goods and provided services, inclusive of the taxable basis related to the return invoices in RON. If the taxable basis is negative, its total value shall be registered under the minus sign (-). The "Value added tax column" shall be filled in with the total VAT amount, inclusive of the tax related to return invoices, in RON. If the taxable basis is negative, the total amount of VAT shall be filled in with the minus sign (-).

If, after the statement is submitted, the VAT taxpayer realizes that there are some data that have not been registered under the statement, or one or more invoices have been issued during the half-yearly reporting period, but they have been received by the Beneficiary of the transaction after the expiration of the submission date of such statement, the taxable entity must submit a new statement correctly drafted, so that to replace the previously submitted informative statement.

After receiving the statements, the fiscal authorities shall start to identify taxable entities who have not submitted this statement, even if under the VAT statement, all deliveries/supplies of services performed/acquisitions made on the Romanian territory have been stated by the taxable persons and to check if the VAT registration codes of taxable entities mentioned under these statements are correct.

Incorrect informative statements drafted by taxable entities who have been notified on this issue, shall be amended by submitting a new statement correctly drafted, the latest on the 25^th day of the second month after the expiration of the initial legal submission date of the informative statement subject to correction.

Besides all these verifications, all data stated under the "List of deliveries of goods/ services provided on the Romanian territory" shall be crossed out with data stated under the "List of acquisitions of goods/services provided on the Romanian territory" by all entities registered for VAT purposes, with a view to combine all data stated under the VAT registration codes of the supplier (the issuant of the invoice) and of the beneficiary (the one for whom the invoice was issued) and to be able to identity discrepancies between the amounts stated by the entity who was the beneficiary of the deliveries of goods/provided services and vice-versa. It shall be also checked whether the VAT registration code subscribed under one of the above-mentioned lists belonging to the supplier/beneficiary of delivery of goods/ of the services performed is not valid or is not distributed yet. All this information shall be put at the disposal of the Methodological Direction and fiscal inspection procedures.