The Order 58/2021 which stipulates that the financial statements for 2020 will be submitted within 150 days from the end of the financial year (May 31, 2021), in the case of companies, and within 120 days from the end of the financial year (4 May 2021), in the case of NGO’s was published.

The order stipulates that the annual financial statements as of December 31, 2020 are prepared, as the case may be:
• based on the accounting regulations regarding the individual annual financial statements and the consolidated annual financial statements, regulated by the MFP Order 1802/2014;
• based on the accounting regulations compliant with the International Financial Reporting Standards, regulated by MFP Order 2844/2016.

Exceeding the legal deadline for submitting the financial statements for 2020 may be sanctioned according to the Accounting Law.

The entities that did not carry out activity from the establishment until the end of the financial year 2020, submit to the units of the Ministry of Public Finance a declaration of inactivity until March 1, 2021.