On 7 September 2022, the Romanian Official Gazette published the regulations to implement the EU Public country-by-country (CbC) Reporting Directive. The Directive requires qualifying multinational companies operating business in the EU to publicly disclose certain information on a country-by-country basis.
Whereas the public CbC reporting rules are intended to be applied by Member States for financial years starting on or after 22 June 2024, Romania chose an earlier adoption date, i.e., applicable on or after 1 January 2023.
Romania also made use of the so-called “safeguard clause”, under which Member States can choose to allow in-scope groups to defer the disclosure of commercially sensitive information, for up to 5 years.
