Wizrom Software launches the solution for filling the new Form 394, applicable as of July 1st

Starting August 1st, companies in Romania must submit to ANAF the new Form 394, filled with July data, whose complexity has already stirred unrest amongst economic agents.

Form 394 is an obligatory informative form on deliveries and acquisitions completed on the national territory, much more complex than so far. For example, the number of sections has increased from 4 to 9, and the volume of information to be filled in has tripled, at least. The new form requires the reporting of the range of invoices used with a split on cancelled invoices, rectified invoices and auto-invoices, recording the total value of the fiscal receipts, including the simplified invoices and receipts meeting the requirements of a simplified invoice, and has to be filled even though no operation was carried on during the respective period. Amongst the newly added sections in the Form 394 there are “persons not registered for VAT purposes”, respectively “taxable persons located abroad Romania (both in EU as well as outside EU) and not registered for VAT purposes in Romania”.

Wizrom Software has already adapted the existing solutions, WizPro ERP and WizCount, through which the company’s clients can automate the process of filling the Form 394 and can submit it within the deadline indicated by the lawmakers.

“This is an European project of standardizing the method of electronically collecting fiscal data from taxable incorporated entities, for taxation purposes, and Romania is following this digitalization trends. Given the complexity of the new Form 394, we have created a dedicated project team and in addition, we already begun organizing training sessions as of May for our clients, to ease the adoption of the new reporting model”, said Adrian Bodomoiu, managing director Wizrom Software.

The companies not using yet a solution adapted to the new Form 394 will meet difficulties in meeting this obligatory requirement as of July 1st.

Wizrom Software provides ERP systems (the provider with the largest number of ERP clients), WMS, TMS, SFA, CRM, BI and others, having 4,100 active clients and over 40,000 licenses deployed.