The Government approved, on Friday, by ordinance, an amendment to the Fiscal Code aimed at aligning national domestic provisions with the OECD Framework Convention on taxation.
According to a press release issued by the Executive, the measure concerns the repeal of an article, at the request of the OECD, as its provisions were in conflict with the commitments undertaken by Romania in view of obtaining OECD membership.
'The aspects considered problematic under this article concerned the creation of potential situations of double taxation and access to mutual agreement procedures for the settlement of tax disputes, as well as the proper reflection of the provisions of the OECD Framework Convention on taxation regarding the non-discrimination of companies in terms of deductibility. The Government will return with a legislative provision in this regard, agreed through dialogue between government institutions and the OECD. The decision was taken in the context of Romania being at a decisive stage of the OECD accession process, with 19 out of the 25 formal opinions already obtained,' the press release reads.
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