Romania
Overview of CbC reporting requirements
Romania has implemented the BEPS Action 13 (CbC reporting) minimum standard with four recommendations for improvement.
First reporting fiscal year: Commencing on or after 1 January 2016
Consolidated group revenue threshold: EUR 750 million
Filing deadline: 12 months following the end of the reporting fiscal year
Local filing required: Yes, for reporting fiscal years commencing on or after 1 January 2017
The domestic legal and administrative framework
It is recommended that Romania take steps to align its local filing implementation with that required by the Action 13 minimum standard. This recommendation remains in place since the 2017/2018 review.
The exchange of information framework
It is recommended that Romania take steps to implement processes or written procedures to ensure that the exchange of information is conducted in a manner consistent with the terms of reference relating to the exchange of information framework. This recommendation remains in place since the 2018/2019 peer review.