Romania: BEPS MLI in Force
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Romania on 1 June 2022. With regard to the tax treaties between Romania and other countries for which
See MoreRomania deposits instruments for the ratification of the Multilateral BEPS Convention
On 28 February 2022, Romania has deposited its instrument of approval or ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (Convention or MLI), which now covers over
See MoreRomania extends deadlines for tax return 2021
On 28 January 2022, the National Agency for Fiscal Administration (ANAF) of Romania has published a Notification No. 137 declaring the annual corporate income tax return and payment deadline is extended to 25 June 2022 for the tax year 2021.
See MoreRomania revises number of large taxpayers required to prepare TP documentation
On 29 October 2021, the Romanian National Tax Agency (NTA) published Order No. 1721 that revises the list of large taxpayers those are subject to prepare transfer pricing (TP) documentation. There are currently 2,940 large taxpayers until 31
See MoreRomania approves BEPS MLI
On 19 August 2021, Romania approved the ratification of the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI). Romania must deposit its ratification instrument to bring the MLI into
See MoreOECD: Updates to Transfer Pricing Country Profiles
On 3 August 2021 the OECD issued an updated version of some of its transfer pricing country profiles, These include new country profiles for Angola, Romania and Tunisia, and updated profiles for seventeen other countries. The updated profiles have
See MoreOECD: Peer review reports on making tax dispute resolution more effective
On 25 May 2021 the OECD released a further batch of eight Stage Two peer review reports in relation to making dispute resolution mechanisms more effective under BEPS Action 14. The minimum standard under BEPS action 14 is concerned with
See MoreRomania: New tax measures in response to Covid-19 pandemic
On 25 March 2021, Romanian Ministry of Finance has announced its decision to provide further support measures in response to the Covid-19 pandemic. Measures include: Deadline extension for submitting applications for budgetary
See MoreRomania publishes further tax relief measures for Covid-19 outbreak
On 30 December 2020, Romania has published Ordinance No. 226 in the Official Gazette with following measures in response to the Covid-19 outbreak: The extension of the deadline to 31 March 2021 for companies affected by Covid-19 to apply for
See MoreRomania introduces installment option for unpaid tax in response to Covid-19 outbreak
On 4 October 2020, the Ministry of Finance of Romania declared a tax payment installment option for companies that have been affected by the Covid-19 pandemic and have unpaid tax liabilities that arose after 16 March 2020. The installment option
See MoreDAC6 Updates: Optional deferral of DAC6 reporting deadlines
On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under
See MoreRomania postpones reporting cross-border arrangements (DAC6)
On 1 July 2020, Romania has published Ordinance No. 107 in the Official Gazette regarding deferral of reporting on EU cross-border arrangements (DAC6) due to Covid-19 pandemic. Previously, the Ordinance clarifies that the deadline for
See MoreRomania introduces interest and penalties relief amid Covid-19 pandemic
On 16 June 2020, the Ministry of Finance (MoF) has declared that the government has extended interest and penalties relief to 25 October 2020 on tax obligations that have become due after 21 March 2020 and on late payments of tax under the tax
See MoreRomania introduces 10% discount provision on quarterly tax payments
On 15 May 2020, Romania has published Law No. 54 in the official gazette no. 396, which provides a discount provision on corporate income tax due for the 2nd and 3rd quarters of 2020 in response to the COVID-19 pandemic. This provision
See MoreRomania: Up to 10% discount for advance payment of tax
On 26 March 2020, the Ministry of Finance of Romania announced that taxpayers who pay the corporate income tax for the first quarter of 2020 before 25 April 2020 will be entitled for tax reduction. This includes a 5% discount for large enterprises
See MoreRomania: Emergency tax measures amid COVID-19 outbreak
On 16 March 2020, the Ministry of Finance (MoF) of Romania declared several measures in response to the COVID-19 pandemic. The annual income tax return submission deadline is extended from 25 March 2020 to 25 April 2020 and there will be no
See MoreRomania enacts EU mandatory disclosure regime (DAC6)
On 28 January 2020, the Government of Romania has published Ordinance no. 5 of 28 January 2020 in the Official Gazette for the implementation of Council Directive (EU) 2018/822 of 25 May 2018 (DAC6) on reportable cross-border tax planning
See MoreRomania introduces draft bill to implement EU mandatory disclosure regime (DAC6)
On 9 January 2020, Ministry of Finance of Romania published a draft bill for the implementation of EU Directive on reportable cross-border tax planning arrangements. This includes measures to require the reporting of cross-border tax planning
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