On 17 January 2025, the Organization for Economic Co-operation and Development (OECD) issued a series of documents in relation to the application of rules implementing the global minimum tax (Pillar Two or GloBE rules. These were particularly focused on compliance and reporting requirements. In the same set of documents, the provisions of the Inclusive Framework (OECD legislation implementing the minimum tax rules) were updated with a list of jurisdictions that have achieved the status of qualified legislation as a result of the national application of Pillar Two rules.
Following the evaluation process, on 13 January 2025, Romania was recognized as a jurisdiction with qualified legislation in relation to the Income Inclusion Rule (IIR) and was also recognized as falling under the QDMTT safe harbor protection regime. Below, we detail the practical effect of this process for large groups applying Pillar Two rules in Romania starting from 1 January 2024.
Read more in the document below.
Connect with us
- Find office locations kpmg.findOfficeLocations
- kpmg.emailUs
- Social media @ KPMG kpmg.socialMedia
Stay up to date with what matters to you
Gain access to personalized content based on your interests by signing up today