According to GEO 107, the Romanian Government opted for a six month deferral of the DAC 6 reporting deadlines for filing and exchanging information under EU mandatory disclosure rules (MDRs) introduced by Council Directive 2018/822/EU (DAC6), implemented in Romania by Government Ordinance no.5/2020. Therefore, the following will apply:

• The date will be changed from 31 August 2020 to 28 February 2021 for the reporting of cross-border arrangements that became reportable from 25 June 2018 to 30 June 2020.
• The start date for the 30 days reporting deadline will be 1 January 2021 (originally 1 July 2020), including for the cross-border arrangements for which the reporting trigger occurs between 1 July 2020 and 31 December 2020.
• The new deadline for the first periodic report on marketable arrangements will be 30 April 2021.
• The date for the first exchange of information on reportable cross-border arrangements will be changed from 31 October 2020 to 30 April 2021.

Member States have had the option to defer the DAC 6 reporting deadlines as a result of amendments made to Directive 2011/16/EU on Administrative Cooperation following the unanimous political consensus reached in the Council of the European Union and the favorable opinion provided by the European Parliament in June 2020.

We would like to emphasise the fact that the DAC6 provisions are now applicable (as of 1 July 2020). The deferral only affects the provisions related to the reporting and filing of the information to the tax authorities and not to any of the other provisions of the DAC 6 Directive.

We welcome the deferral of these reporting deadlines, especially in the present context. A significant amount of technical and operational details still need to be discussed and confirmed with the Romanian Tax Authorities prior to the effective reporting of the required information and we are optimistic that the postponement of the deadlines will give us and our clients sufficient time to better prepare for this complex exercise.