This Order regulates the rule of preparation of the annual financial statements on December 31st for entities whose fiscal year coincides with the calendar year, but also for entities whose fiscal year differs from the calendar year. There are generally kept the regulations stipulated in the previous years, but starting with this year, the financial statements must be registered again at the Ministry of Public Finance.
For entities whose financial year coincides with the calendar year, the deadline for the submission of the annual statements to the territorial units of the Ministry of finance is:
The subunits of Romania belonging to legal entities established or settled abroad, submit annual financial statements completed on December 31st to the territorial units of the Ministry of Finance, within 150 days from the end of the tax year.
Entities that have held up the activity, and those in liquidation, under the law, will submit a statement in this regard, to the territorial units of the Ministry of Finance, within 60 days from the end of the tax year.
Annual financial statements will be accompanied by a management report, an audit report or the report of the audit committee, as appropriate, and the proposed distribution of profit or loss. The annual financial statement will also be accompanied by a written statement of the managers or persons responsible for accounting, in which they assume their responsibility for preparing the annual financial statements.
Subunits registered in Romania and belonging to legal entities established or settled abroad, and whose fiscal year coincides with the calendar years, for the purpose of preparing annual financial statements, account balance 481 “Transactions between units and subunits” and 482 “Transactions between subunits” are transferred to the account 461 “Sundry debtors”/analytically distinct or 462 “Sundry creditors” analytically distinct, as appropriate, following that, at the beginning of the next financial year, to restore the accounts from which they originated.
At the same time, the entities that have opted for a fiscal year different from the calendar year, according to art. 27 paragraph (3) of the Accounting Law no. 82/1991 republished, regardless of organizational form and ownership, are required to prepare and submit annual reports on December 31st at the territorial units of the Ministry of Finance. The deadline for submission of these reports is 150 calendar days from the end of the calendar year.
Entities that have opted for a fiscal different from the calendar year and which have had no activity since their foundation until December 31st , and those in liquidation under the law, do not prepare annual reports on December 31st, and they will submit a solemn declaration of the person responsible with the entity’s management to the territorial units of the Ministry of Finance. The submission of the solemn declaration is done within 30 calendar days from the end of the calendar year.
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