Romania introduces mandatory online submission for CbC Reporting
On 19 August 2019, Romania has published Order No. 2.273, amending the rules on submission of Country-by-Country (CbC) reports and notifications, effective from 26 August 2019. Now both CbC reports and notifications must be submitted through
See MoreRomania implements EU Directive on Dispute Resolution
On 22 August 2019, Romania has published Ordinance No. 19 in the Official Gazette, which implemented the EU Tax Dispute Resolution Directive 2017/1852 in the tax procedure code (Law no. 207/2016). The provisions apply to complaints submitted
See MoreRomania updates CFC and restriction on interest deduction rules
Romania has published Law no. 30 of 10 January 2019, which amendments restriction on interest deduction rules. The amendments increase safe harbor threshold from the RON equivalent of EUR 200,000 to the RON equivalent of EUR 1 million. It also
See MoreEU: European Commission formally notifies Romania on VAT split payment rule
On 8 November 2018 the European Commission sent a formal notice to Romania expressing the view that the VAT split payment mechanism applicable in Romania from 1 January 2018 is not compatible with the EU VAT Directive 2006/112 and is not compatible
See MoreRomania permits quarterly dividend distributions
On 10 July 2018 the Romanian legislature passed Law no 163/2018 in the Official Gazette allowing quarterly dividend distributions.The Law amended the Accounting Law 1991 and the Companies Law 1990 to provide companies with the option to distribute
See MoreRomania: Raised 2018 VAT registration threshold
Romania has introduced a retrospective rise in its VAT registration threshold for resident businesses. It was increased to €88,500 per annum from €65,000 per annum from 1 January 2018. The European Commission last year authorized Romania to
See MoreRomania: National tax administration publishes electronic forms of the CbC report
On 11 December 2017, the Romanian National Tax Administration Agency published on its website the electronic forms of the CbC report and the CbC report notification templates to be used for submission by the Romanian taxpayer forms R404 and R405,
See MoreRomania: Guidance published on form for country-by-country reporting
On 14 November 2017, the tax administration published guidance Order no. 3049/2017 concerning the form to be used for filing country-by-country (CbC) reports. According to Order no. 3049/2017, the “country-by-country reporting” form should be
See MoreRomania: Ordinance amending the Tax Code published
In the Official Gazette no. 885 of 10 November 2017, Emergency Ordinance no. 79 concerning the modification and completion of Law no. 227/2015 regarding the Tax Code has been published by the Romanian Government. According to the new rule a taxpayer
See MoreSpain and Romania sign an agreement to avoid double taxation
On 18 October 2017, the Double Taxation Agreement (DTA) between Spain and Romania was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in Bucharest. Once in force and effective, the
See MoreSpain: Council of Ministers authorizes to sign DTA with Romania
On 13 October 2017, the Council of Ministers of Spain authorized to sign a Double Taxation Agreement (DTA) with Romania. Once in force and effective, the new treaty will replace the existing DTA of
See MoreRomania authorizes to sign DTA with UK
On 18 October 2017, the Romanian government authorized to sign a Double Taxation Agreement (DTA) with the United Kingdom. Once in force and effective, the new treaty will replace the existing DTA of
See MoreRomania: Ordinance on mandatory electronic tax return filing published
Romania has published in the Official Journal of 2 August 2017- Regulation No 2326/2017, according to which tax returns will have to be submitted electronically to the National Agency for Fiscal Administration. Tax returns to be submitted
See MoreChina, Romania DTA enters into force
On 17 June 2017, the Double Taxation Agreement between China and Romania was entered into force and it will apply from 1 January 2018. From this date, the new treaty will replace the existing DTA of 1991. The agreement contains Dividends rate 3%,
See MoreRomania: Planning progressive Income Tax
The Government of Romania is planning to replace the flat tax on corporate income with a tax on turnover and this could be effective as early as 2018. The company revenues in Romania are currently taxed at a rate of 16%, but this could be replaced
See MoreRomania: Country-by country reporting requirements implemented
The Romanian Government passed Emergency Ordinance no. 42/2017 on 9 June 2017 to implement country-by-country (CbC) reporting requirements in Romania, transposing the provisions of Directive (EU) 2016/881 dated 25 May 2016 into the national
See MoreRomania: DTA with Uzbekistan signed
The president of Romania signed a law ratifying the amending protocol of Double Taxation Agreement (DTA) with Uzbekistan on 8 May
See MoreItaly: Draft law ratifying DTA with Romania approved
The Senate of Italy approved the draft law ratifying the Double Taxation Agreement (DTA) with Romania on 4 May 2017. Once in force and effective, the treaty will replace the existing DTA of
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