EY Tax Alert - CESOP - Draft Order of the President of ANAF approving the procedure for implementing the provisions of Art. 3212 para. (7) letter b) of Law no. 227/2015 regarding the Fiscal Code, and for the approval of the model and content of form (396) "Information statement on cross-border payments made by payment service providers"

On April 10, 2024, the Draft Order of the President of ANAF for the approval of the procedures for applying the provisions of art. 3212 par. (7) letter b) from Law no. 227/2015 regarding the Fiscal Code, with subsequent amendments and additions and for the approval of the model and content of form (396) "Informative statement on cross-border payments made by Payment Service Providers" has been published on the ANAF website, in the section under the section Decisional transparency.

In accordance with the Draft Order, its provisions apply to cross-border payments made starting with the first quarter of 2024.

The Draft Order proposes the content, the manner and the instructions for completing form (396) “Informative statement on cross-border payments made by Payment Service Providers”.

Payment Service Providers, to whom the reporting obligation is applicable, should consider the following procedural aspects:

• the obligation to submit form (396) exclusively by electronic means until the end of the month following the calendar quarter to which the information refers at the latest;
• the obligation to validate the form, as well as the obligation to submit a new form if the data contained in form (396) isn’t validated by ANAF;
• the possibility of correcting the transmitted data if the payment service provider identifies errors in the originally submitted form (396).

According to the Draft Order, the submission deadline for the 396 Form is considered to be the last calendar day of the respective month, even if this is a non-working day. The submission deadline for the first quarter of this year is going to be April 30, 2024. Regarding the correction of the transmitted data, this can be done at the latest before the end of the 5-year period established for data retention according to the European regulations.

Conclusions:

Given that the deadline for the first CESOP reporting is approaching (30 April 2024), EY team can assist you in this regard, in understanding the new requirements, identifying the payments that fall within the scope of this reporting and implement the reporting obligation in optimal conditions.

For more details, please consult the Draft Order of the President of ANAF for the approval of the procedures for applying the provisions of art. 3212 par. (7) letter b) from Law no. 227/2015 regarding the Fiscal Code, with subsequent amendments and additions and for the approval of the model and content of form (396) "Informative statement on cross-border payments made by Payment Service Providers" published on the ANAF website under the ‘Decisional Transparency’ section.