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Romania: New Deadline for Reporting Cross-border Transactions under DAC6 Rules

Romania: New Deadline for Reporting Cross-border Transactions under DAC6 Rules

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Following the formal adoption by the European Council of the directive to postpone the initial reporting deadlines for “DAC6” by six months, on 1 July 2020 the Romanian Government adopted Emergency Ordinance no. 107/2020 by which it extends the deadline for submission of reports regarding cross-border transactions under DAC6 rules.

The reports now are to be submitted by intermediaries (e.g. lawyers, tax advisers) or relevant taxpayers by 28 February 2021 for transactions which took place between 25 June 2018 and 30 June 2020.  The initial deadline was 31 August 2020.

For transactions carried out between 1 July 2020 and 31 December 2020, the 30-day reporting deadline begins to run no later than 1 January 2021.

In case of marketable arrangements, first reporting is expected by 30 April 2021.

By way of brief reminder, DAC6 requires the identification and reporting of cross-border arrangements involving at least one EU Member State (for these purposes including Romania) and which feature one or more ‘hallmarks’ which the EU considers to be indicative of potentially aggressive tax arrangements.

By Carmen Mazilu, Associate, Noerr

Romanian Knowledge Partner

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