Romania: Public country-by-country reporting implemented

Multinational enterprises doing business in EU required to publicly disclose certain information on a CbC basis

Public country-by-country reporting implemented

The Minister of Public Finance issued Order no. 2048/2022 implementing EU Directive 2021/2201 requiring qualifying multinational enterprises doing business in the EU to publicly disclose certain information on a country-by-country (CbC) basis—effective for the first financial year beginning after 1 January 2023 (in the case of entities which opted for a financial year different from the calendar one).

The requirement to prepare and publish the CbC report applies to the following types of entities:

  • Ultimate parent companies
  • Standalone entities
  • Medium-sized and large subsidiaries, which are controlled by an ultimate parent which does not fall under the present legislative requirements
  • Branches set up in Romania by companies which do not fall under the governance of a law of an EU member state

The criterion triggering the applicability of the reporting requirement is consolidated annual net turnover (for groups of companies) at the balance sheet date of more than RON 3,700,000,000 (equivalent to approximately €750 million) for two consecutive financial years. If this criterion is met, then the requirement to prepare and publish the CbC report applies with respect to the last financial year (of the two) for which the criterion is met.

Read a December 2022 report [PDF 335 KB] prepared by the KPMG member firm in Romania


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