Transfer pricing file An order issued in February has approved the content of the transfer pricing documentation file. The order has then been supplemented by the transfer pricing guidelines of the OECD and the code of conduct on transfer pricing documentation for associated enterprises in the European Union.
During a general or a partial audit performed by the tax authorities, taxpayers involved in related parties’ transactions are obliged to present the transfer pricing documentation file following a written request received by the tax authority. The deadline for making available the transfer pricing file by the taxpayer depends on the number of transactions and their complexity, as well as the period of time in which the transactions will take place. However, it will be a maximum of 3 months.
The information included in the transfer pricing documentation has to be presented to the tax authority in Romanian language.
The transfer pricing documentation file contains general information about the taxpayer and its group, details on related party transactions and the method applied to the determination of transfer prices.
The refusal to present the transfer pricing documentation or the filing or presentation of incomplete files following two consecutive requests may lead to the estimation of transfer prices by the tax authorities based on generally known information
CAEN. At the beginning of the year an amendment to the CAEN Code (Classification of Activities from National Economy) which regulates the object of activities of the companies, has entered into force.
According to these amendments, Romanian companies and Romanian branches of foreign entities should proceed with the amendment of their Articles of Association, in order to adjust their existing object of activity with the new codes. If such adjustments and revisions are not made, a company could be unable to register any amendment to the articles of association.