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.
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Director, Transfer Pricing Tax Department DELOITTE ROMÂNIA