NetSuite – Localization Package Romania

The localization package covers:

VAT

• Full coverage of the requirements of the VAT Act of the Republic of Romania;
• One-click validation of customer/ vendor VAT number via EU VIES portal. Auto fill company name and official address into respective NetSuite fields;
• Possibility for unlimited number of VAT rates and reasons for non-accrual of tax in one and the same document;
• Printed forms in Romanian language of the tax documents (invoice/debit note/credit note), including a table with grouped tax rates, tax base, VAT accruals;
• Import VAT under the customs declaration;
• Reporting of deliveries, when the tax is due by the recipient (reverse charge);
• Elaboration of declarations D300, D390 and D394 - printed forms of all official documents, export to PDF;
• Preparing all electronic files (D300, D390 and D394) according to the formats (XML) defined in the VAT Act of the Republic of Romania;
• Locking tax periods after submitting the registers;
• Compatibility with Multibooking, including in cases where Secondary Accounting Book is used for local (Romanian) accounting purposes;
• Compatibility with NetSuite OneWorld (the localization package works only with Romanian legal entities without changing the functional settings of the other companies in the multi-company environment).

Intrastat

• Full coverage of the requirements of the Romanian legislation in terms of Intrastat reporting;
• Keeping codes under the Combined Nomenclature;
• Keeping an additional measuring unit and the relevant ratios;