2024-05-20 09:27:00
For firms with the identical fiscal yr because the calendar yr, the final day to file 2023 monetary statements with out threat of penalties is Might 29, 2024. The novelty of 2024, not like earlier years, is that fines can now not be deducted from their worth, the power was canceled by Regulation No. 1. 296/2023 and might due to this fact exceed RON 10,000, which is a related quantity for a lot of firms. However along with fines, the implications of not submitting monetary statements are a number of, affecting not solely the corporate’s enterprise actions, but in addition the accountable individuals, managers, and so forth.
Camelia Nişă and Ioana MassierPicture: PwC Romania
If we point out fines, they are often as much as RON 4,500 for late submission and as much as RON 5,000 if not submitted in any respect. It ought to be famous that the submission of different stories concurrently with the monetary statements carries penalties of as much as RON 5,000, in addition to fines for non-compliance with the preparation of statements associated to assumptions. The accountability of the administrator (or different individual with comparable duties) for the preparation of annual monetary statements is as much as RON 10,000.
Subsequently, fines for monetary statements and associated paperwork can attain as much as RON 10,000. The beforehand talked about violations and related fines are already supplied for within the prior artwork. 41. The artwork of separation. Article 42 of the Accounting Act 82/1991.
It’s also value mentioning that if the presentation of economic statements accommodates incorrect or irrelevant information, together with information on the id of the reporter, a superb of 200 to 1,000 lei can be imposed. As well as, non-compliance with the obligations of the monetary assertion audit and inner audit organizations might end in fines of as much as RON 40,000 and RON 100,000 respectively.
Learn the remainder of the article on the PwC Romania weblog
Article signed by Director Camelia Nişă and Supervisor Ioana Massier
Article supported by PwC Romania
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