With the publication of Decree 2493 of July 8, 2019, the regulations on the system of representing the financial and economic data of organizations as of 6/30/2019 came into force.

Those obligated to the 2019 Semi-Annual Report

According to the legislation, all entities that achieved a turnover of more than 220,000 lei in the previous administrative year are obliged to prepare and file the 2019 Half-Yearly Financial Statements. We point out that the obligation also applies to SOs established by foreign companies in Romania.

Subjects exempted from the obligation

Exempted are all individuals who, although they achieved a higher than expected turnover in 2018, are temporarily inactive or are in liquidation in the first half of 2019.

Terms and conditions

The law stipulates that the filing of the 2019 Semi-Annual Financial Statements must be made no later than August 14, 2019. If this obligation is not fulfilled, the legislation provides for the imposition of fines. As a reminder, the 2019 Semi-Annual Financial Statements must be prepared and signed by the incumbent Administrative Body with the assistance of the economic director if provided for in the organizational chart or by a qualified person. Finally, we remind you that the 2019 Half-Yearly Financial Statements are not subject to approval by the Shareholders’ Meeting.

We remain available for any clarification.