Romania enforces ex officio changes to taxpayers’ register
Romania has published Order No. 3792/2024 in Official Gazette No. 774, on 7 August 2024,outlining the procedure for amending the Taxpayers' Register ex officio when taxpayers fail to fulfil their obligation to update their information. The tax
See More
Romania gazettes details of prefilled VAT returns
Romania’s government has issued Order no. 3775/2024, which approves the layout and content of the prefilled VAT return. The Order No. 3775/2024 was published in Official Gazette No. 726 on 24 July 2024. Earlier, the government published a
See More
Malta, Romania sign amending protocol to tax treaty
Malta and Romania signed an amending protocol to the 1995 Malta-Romania Income Tax Treaty on 4 July, 2024, aiming to enhance the original tax treaty between the two countries on the avoidance of double taxation and the prevention of fiscal
See More
Romania proposes amended prefilled VAT return format, content
Romania’s government published a draft bill on 27 June, 2024, detailing revisions to the layout and content of the prefilled VAT return. The prefilled e-VAT return follows the government’s Emergency Ordinance No. 70/2024, which was published
See More
Romania expands e-invoicing to B2C transactions
Romania’s Ministry of Finance has released Urgent Ordinance 69/2024 on 21 June, 2024, which expands the country's electronic invoicing (e-invoicing) mandate to business-to-consumer (B2C) transactions. Starting 1 July, 2024, all B2C transactions
See More
Romania revises CRS guidance on OECD FAQs
To aid financial institutions in complying with their reporting requirements, The National Agency for Fiscal Administration (ANAF) has established a dedicated section on its portal for the automatic exchange of information on direct taxes. ANAF,
See More
Montenegro-Romania social security agreement to be enforced from 1 June 2024
The bilateral social security agreement between Montenegro and Romania is slated to come into force on 1 June, 2024. Signed on 22 July, 2022, the agreement indicates a positive step towards enhancing social security cooperation between
See More
Romania announces tax amendments for 2024
Romania has implemented various tax amendments for 2024 that include new turnover taxes, VAT rate changes, and mandatory electronic invoicing. These tax changes are: A new regulation that imposes a 1% minimum turnover tax on companies with
See More
Romania publishes pillar 2 global minimum tax in the official gazette
On 5 January 2024, Romania published Law No. 431 of 29 December 2023 in the Official Gazette. This law enacts the implementation of the Pillar 2 global minimum tax in accordance with Council Directive (EU) 2022/2523 of 14 December 2022. In
See More
Romania: Parliament passes pillar 2 global minimum tax
On 19 December 2023, the Romanian Chamber of Deputies (lower house of parliament) approved the law to implement the Pillar 2 global minimum tax under Council Directive (EU) 2022/2523 of 14 December 2022. In addition to the Pillar 2 global minimum
See More
Romania enacts amendments to the Tax Code
On 27 October 2023, Romania published Law No. 296/2023 in the Official Gazette. The law includes fiscal and budgetary measures aimed at securing the long-term financial sustainability of Romania. Starting from 1 November 2023, a standardized tax
See More
Romania releases draft law on global minimum tax rule
On 4 October 2023, the Ministry of Public Finance in Romania opened a public consultation on a draft law and explanatory note for implementing the Pillar 2 global minimum tax as per the Council Directive (EU) 2022/2523 of 14 December 2022. The
See More
Romania provides guidelines on public CbC reporting obligations
On 21 June 2023, the Romanian Government issued guidance to implement of the EU Public Country-by-Country (CbC) reporting Directive in the Official Gazette. On 1 September 2022, Romania became one of the first European Union (EU) Member States to
See More
Romania enacts DAC7
On 31 January 2023, Romania published Ordinance No. 16/2023 in the Official Gazette, which transposes EU Council Directive No. 2021/514 (DAC7) into Romanian law to implement new rules on the exchange of information on income generated through
See More
Romania publishes draft bill on DAC7
13 January 2023, the Ministry of Finance (MoF) has released a draft ordinance to implement the provisions of the amending directive on administrative cooperation in the field of taxation (Council Directive (EU) 2021/514) (DAC7) in the fiscal
See More
Romania introduces windfall profit tax on fossil fuel industry
On 29 December 2022, Romania published Ordinance No. 186/2022 in the Official Gazette. The ordinance enforces a windfall tax on surplus profits in the fossil fuel industry. This tax is based on the EU Council Regulation 2022/1854 and applies to
See More
Romania gazettes public CbC reporting directive
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
See More
IMF Report Considers Romania’s Economic Situation
On 10 June 2022 the IMF published a report following discussions with Romania under Article IV of the IMF’s articles of agreement. Romania’s economy recovered well after the pandemic; but is now facing strong challenges. The GDP
See More