The Finance Ministry has decided to cancel, just five days before the deadline, the fines for Romanian companies which don’t implement electronic cash registers, according to a project released on its website.

In May, the deadlines for companies to acquire and implement electronic cash registers were postponed by three months, following a decision of Finance Ministry.

The new deadlines are September 1 for large businesses and November 1 for small businesses.

Close to 27,000 big and medium enterprises, including large retail chains, should implement electronic cash registers at the end of this week, and more than 800,000 registers should be implemented this year by all companies in Romania.

The Finance Ministry argues that only a quarter of necessary electronic cash registers are now in place, five days before the deadline.

“It is estimated that large and medium economic operators use approximately 100,000 cash registers, and until that date only 28,986 cash registers have been installed for all categories of taxpayers, including the small ones,” the ministry said.

The new project says that a company will be sanctioned only with warning if it is found without an electronic cash register after September 1.

The fines for non-compliance with mandatory cash registers are up to RON 20,000 (EUR 4,500) and the companies’ activity could be suspended.

The main target of the introduction of electronic cash registers is reducing VAT fraud, as the VAT gap in Romania is the highest in the European Union.

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