Str. Dr. Grigore Mora 11, Bucuresti, Romania

According to the order 2531/2018 of the Ministry of Public Finance published in the Official Gazette Part I no. 623 from 18.07.2018, the entities that in the previous year registered a turnover exceeding RON 220.000 have the obligation to submit accounting reports related to the first semester of 2018 until 16.08.2018 (20.08.2018 according to the Government meeting from 02.08.2018).

For the threshold of RON 220,000 it will be taken into account the financial indicators of the previous financial year, respectively the trial balance concluded at the end of 2017.

We would like to draw the attention that this provision also applies to entities that opted for a different financial year.

Thus, depending on the type of accounting regulation applied by the entity, the following bi-annual reporting shall be prepared:

A. Entities which apply the European Directives adopted by OMFP 1802/2014 shall submit:

1. Statement of assets, liabilities and equity (code 10);

2. Profit and loss account (code 20);

3. Informative data (code 30).

B.  Entities which apply International Financial Reporting System IFRS adopted by OMFP 2844/2016 shall submit:

1. Statement of assets, liabilities and equity (code 10);

2. Income and expenditure statement (code 20);

3. Informative data (code 30).

C. Entities which opt for a different financial year than the calendar year shall submit:

Statement of assets, liabilities and equity (code 10) with information corresponding to 1 January 2018 to 30 June 2018.

The following companies do not have the obligation to prepare the bi-annual reporting:

  • entities that did not carry out activity from the date of establishment until 30 June 2018;
  • entities that were temporarily inactive during the first semester of 2018;
  • entities set up in 2018;
  • legal entities that are in liquidation, according to the law.

Failure to comply the deadline for submission shall be sanctioned according to art. 42 of the Accounting Law 82/1991, as follows:

  • regarding drafting and signing of accounting reports, with a fine from RON 2,000 to RON 3,000;
  • regarding the term of submission: with a fine from RON 300 to RON 1000, if the delay period is between 1 and 15 working days, a fine from RON 1,000 to RON 3,000, if the delay is between 16 and 30 working days, and a fine from RON 1.500 to RON 4.500, if the delay period exceeds 30 working days.

Furthermore, OMFP 2531/2018 brings changes to the general accounts plans from the accounting regulations compliant with European directives and accounting regulations in line with IFRS, as follows:

– Renaming the account 441 from the “Profit / Income Tax” in “Profit and other taxes”;

– The following accounts are entered:

  • account 4415 “Taxes specific to certain activities”;
  • account 695 “Taxes specific to certain activities”;
  • accounts 6231 “Protocol Expenses” and 6232 “Advertising and Marketing Expenses”.


For additional information, our consultants are at your disposal.

Contact person tax department:

Simona Stănculescu

Senior Tax Advisor

Mobil: +40 736 012 643