New sanctions for violation of the rules for organizing and maintaining accounting, compiling and submitting financial statements will come into force on July 20.
This is provided for by amendments to the Code of Contraventions, published on April 20 in Monitorul Oficial. According to the amendments, non-compliance with the requirements of the legislation on the method of accounting and the application of standards or methodological norms of accounting and financial reporting entails a fine on an official in the amount of 25 to 50 c.u. (1250-2500 lei), for a legal entity - from 50 to 75 c.u. (2500-3750 lei). The same punishment will be provided for failure to issue primary documents, including primary documents of strict accountability, as well as non-compliance with the requirements for their execution, with the exception of transactions of a pledger registered as a VAT payer in case of failure to issue a tax invoice for the sale of pledged goods. At the same time, the ownership of assets by an enterprise on any rights, registration of the sources of their origin and economic facts, without their documentation and reflection in accounting, will entail a fine on an official in the amount of 25 to 75 c.u. (1250-3750 lei), for a legal entity - in the amount of 75 to 100 c.u. (3750-5000 lei). Herewith, non-compliance with the requirements of the law on the application of accounting rules and the reflection in accounting of economic facts and the rules for conducting an inventory will be punished by a fine for an official in the amount of 5 to 10 c. u. (250-500 lei), for a legal entity - from 10 to 20 c.u. (500-1000 lei). It is also provided that the loss, theft or destruction of accounting documents before the expiration of their storage period in accordance with the rules established by the National Archival Agency, or their non-renewal within 3 months from the date of the establishment of the relevant fact, will result in a fine on the official in the amount of 10 to 15 c.u. (500-750 lei), and for a legal entity - from 20 to 30 c.u. (1000-1500 lei). It is stipulated that the submission of financial statements that do not correspond to their qualitative characteristics entails the imposition of a fine on an official in the amount of 10 to 20 c.u. (500-1000 lei), for a legal entity - from 20 to 30 c.u. (1000-1500 lei). Failure to comply with the requirements of the law on the form, procedure and terms for the preparation, presentation and publication of individual financial statements or financial reports, consolidated financial statements or reports, management report, management consolidated report, audit report, report on the execution of the state body's budget will result in the imposition of a fine on an official in size from 20 to 40 c.u. (1000-2000 lei), for a legal entity - from 50 to 70 c.u. (2500-3500 lei). Failure to comply with the obligation to audit individual financial statements and consolidated financial statements will be punished by a fine for legal entities in the amount of 60 to 80 c.u. (3000-4000 lei). // 21.04.2022 — InfoMarket
