Romania: Clarifications on reporting form for public country-by-country disclosures

The Romanian Ministry of Finance on December 13, 2024, issued a press release with regards to the reporting template to be used for public country-by-country (CbC) disclosures.  

The European Commission had previously published in the Official Journal the final implementing regulation providing the common template and electronic reporting formats for the application of the EU Public CbC Reporting Directive (the regulation). However, the reporting forms are only applicable for CbC reports prepared for financial years starting on or after January 1, 2025. Romania has nevertheless opted for early implementation of the EU Public CbC Reporting Directive, with effect from financial years starting on or after January 1, 2023.

In this context, the Romanian Ministry of Finance clarified that until the regulation becomes applicable, entities that are subject to public CbC requirements in Romania can report based on either one of:

• The reporting format and instructions used for non-public CbC reporting
• The template and formats introduced through the regulation
• Any other format, provided that all required information under the EU Public CbC Reporting Directive is disclosed

Read a January 2025 report prepared by the KPMG EU Tax Centre