Romania’s Ministry of Public Finance issued an order that includes guidance notes for the automatic exchange of financial information. Order no. 1939/2016 was published in the official journal no. 648 (24 August 2016). The order contains provisions for the consistent application of:
Under conventions related to the automatic exchange of information concluded between Romania and other countries, financial institutions must report to the Romanian tax authorities, annually, financial information relating to accounts opened and/or closed by taxpayers who are residents of the other participating jurisdictions.
Read an August 2016 report [PDF 139 KB] prepared by the KPMG member firm in Romania
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