In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles
Published on November 04, 2016
The Phase 2 review rates Romania as overall largely compliant with the international standard. Romania’s legal and regulatory framework generally ensures that ownership, accounting and banking information is available in accordance with the standard. However, deficiencies were identified in respect of availability of information on bearer shares, availability of information on foreign companies with sufficient nexus with Romania and lack of enforcement measures regarding shareholder register’s maintenance requirements for certain companies. Romania has in place appropriate organisational processes to ensure provision of responses generally in a satisfactory manner as was demonstrated over the last three years. For further information on the exchange of information practice of Romania and to read the full report click here.