On April 17, 2024, the National Institute of Statistics issued the Order No. 377/2024 regarding the update of the Nomenclature of Economic Activities – NACE, which will enter into force as of January 1, 2025.
Implications to be considered
According to the legislation, the entities engaged in economic activities are required to take the following steps:
▸ Analysis of the Scope of Activity
Initially, companies must conduct an internal analysis of their own scope of activity, also taking into account the changes introduced by Law 265/2022 on the Trade Registry (particularly those related to the authorization with the Trade Registry of all NACE codes mentioned in the articles of incorporation).
▸ Updating the scope of activity in accordance with the new NACE Rev. 3 classification
For entities already registered with the Trade Registry, the update of their scope of activity will be carried out gradually, at their initiative, when registering an amendment with the Trade Registry.
On November 29, 2024, the Ministry of Justice published a Draft Order detailing the measures and procedures for implementing the new Nomenclature of Economic Activities – NACE Rev. 3. The draft order was developed by the Ministry of Justice in collaboration with the National Trade Registry Office and is under public consultation until December 16.
