The Ministry of Public Finance (MFP) has published the new accounts to be used for recording contributions owed, in accordance with Title V Mandatory Social Contributions of the Fiscal Code, for realized revenues, starting from January 1st 2018, in the context of the transfer of social contributions from the employer to the employee. These accounts were introduced by Order no. 1243/2018 from February 5, 2018, on supplementing certain accounting regulations, published in the Official Journal of Romania no. 120 of February 7, 2018 – Part I.
The new accounts for mandatory social contributions are:
- 4315 Social Security Contribution (P);
- 4316 Health Insurance Contribution (P);
- 436 Labour Insurance Contribution (P);
- 646 Labour Insurance Contribution Expenses.
The four accounts established by OMFP no. 1.243/2018 are included in:
- The general chart of accounts provided in section 594 of the Accounting Regulations for Separate Annual Financial Statements and Consolidated Annual Financial Statements, approved by the Order of the Minister of Public Finance no. 1802/2014;
- The chart of accounts provided in section 196 of the Accounting Regulations compliant with the International Financial Reporting Standards, approved by the Order of the Minister of Public Finance no. 2844/2016;
- The general chart of accounts provided in section 344 of the Accounting Regulations for non-profit legal entities, approved by the Order of the Minister of Public Finance no. 3103/2017.