On September 7, 2022, the Romanian government published legislation in the Official Gazette to implement the EU’s Public Country-by-Country Reporting (CbCR) Directive.
While EU Member States are required to incorporate the Directive into national legislation by June 22, 2023, with the first fiscal year beginning on June 22, 2024 at the latest, Romania has chosen an earlier adoption date, with the regulations taking effect on January 1, 2023.
The public CbCR obligations are essentially advanced by at least one or two years as a result of the regulations’ earlier admission into force in Romania (January 1, 2023).
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