LAW No. 208 of November 13th, 2012 approving the Ordinance no. 15/2012 related to the alteration and completion of the Law no. 571/2003 regarding the Fiscal Code

VAT cash accounting system was approved by this law which brings other additional changes as follows:

– rules have to be applied related to the invoices whose values are paid in cash after the  issuing date of the invoice

– rules have to be applied between the date when the taxable entity had the obligation to apply the VAT cash accounting system and the date of default registration by fiscal authorities in the Registry of taxable entities applying the VAT cash accounting system

– rules have to be applied between the date when the taxable entity had no obligation to apply the VAT cash accounting system and the date of default deregistration by fiscal authorities from the Registry of taxable entities applying the VAT cash accounting system.

12 December 2012