Decision regarding the automatic exchange of information adopted by the Romanian Senate

Considering that The European Council has welcomed OECD’s ongoing efforts made to develop a global standard for automatic exchange of financial information, on the 21st of March 2016, the Romanian Senate adopted the Decision on the Proposal for a Council Directive amending Directive 2011/16 / EU regarding the mandatory automatic exchange of information in tax matters.

The Decision was published in the Official Monitor, part I, no. 222/25.03.2016. According to the directive, MNE’s have the obligation to annually provide for each tax jurisdiction where it performs business activities, certain information such as income, taxable profits, taxes paid, etc.

For further information, please follow this LINK.

Ciprian Gavriliu
Director, Transfer Pricing Tax Department DELOITTE ROMÂNIA

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