On 9th of June, Romania becomes an associate member of Base Erosion and Profit Shifting, a program for many states that attempt to limit the harmful tax practices globally. These regulatory changes aim to fight profit shifting and base erosion, and according to Law no 124/2017, the measures will be implemented nationally. This was approved back in 2016, by the Romanian Executive through a memorandum.
As an associate member, Romania will have to implement the four minimum standards of BEPS and to monitoring the evolution of taxes. The BEPS standards are harmful tax practices, abuse of tax treaties, country-by-country reporting and dispute settlement mechanisms. Romania will also join OECD’s Taxation Affair Committee. Such measures will increase the taxable base in Romania.
For financial advice please contact,
Sandra Tanase
Managing Partner | Head of Israel Mission
Mob: +40 79 9999299