Romania's Ministry of Finance has published Order No. 203/2026, finalising accounting rules for constituent entities subject to the global minimum tax under Law 431/2023, requiring deferred tax disclosures in explanatory notes to annual financial statements in line with IAS 12 principles rather than in the formal ledger.
Romania’s Ministry of Finance has published Order No. 203/2026 in the Official Gazette No. 196 on 13 March 2026, detailing how deferred tax is to be recorded in the accounting records of constituent entities subject to Law No. 431/2023, which implements the Minimum Taxation Directive (2022/2523).
The Order does not introduce any significant changes compared to the draft released for public consultation.
The Order sets out accounting rules for entities subject to the global minimum tax under Law 431/2023 that apply national reporting standards.
These entities must disclose deferred tax calculations in the explanatory notes to their annual financial statements — calculated in line with IAS 12 principles and based on the difference between the carrying amount of balance sheet items under OMFP 1802/2014 and their tax base — but are not required to record them in the formal ledger.
The disclosures must distinguish between deferred tax arising from the current year’s result and that relating to retained earnings.
Earlier, on 9 February 2026, Romania’s Ministry of Finance issued a draft order detailing how constituent entities subject to Law 431/2023 should account for deferred tax under the Minimum Taxation Directive (2022/2523).
