Mazars Central and Eastern European tax guide 2023
Mazars published for the eleventh time its regional tax guide, which presents snapshots and comparative charts of the tax systems of 25 CEE countries for 2023.
Webinar: Understanding Pillar 2 - what to expect and how to prepare?
Discover the future of global taxation with insights from industry experts.
Watch the recording of our webinar addressing the challenges around Pillar 2 and how companies can prepare and plan in the best possible way, to thrive in the evolving tax landscape.
The Pillar 2 Global Anti-Base Erosion (GloBE) rules have been developed by the Organisation for Economic Co-operation and Development (OECD) to provide a common system of taxation that ensures multinational enterprises (MNEs) pay a global minimum tax (GMT) of 15% in each jurisdiction where they operate and generate income.
Positioned as one of the pioneering countries in the OECD's initial agreement, Romania has adhered to the Pillar 2 principles. Demonstrating its commitment, Romania has undertaken the obligation to implement the UE Directive 2022/2523 to ensure a global minimum level of taxation for both multinational enterprise groups and large-scale domestic groups within the European Union, by the end of 2023.
Large multinational groups operating in Romania should proactively start analysing and evaluating the potential impact of Pillar 2 by simulating the calculation of the Effective Tax Rate (ETR).
Key topics:
- Understanding Pillar 2 and its scope
- Exploring the status of legislation in Romania
- Navigating transitional rules and their implications as well as the link between the Country-by-Country report and Pillar 2
- Unveiling Mazars’s IT tool for Pillar 2
- Practical examples of how companies can prepare for the upcoming period
Speakers:
- Liviu Gheorghiu, Tax Director, Mazars in Romania
- Adrian Mutea, Tax Manager, Mazars in Romania
- Christian Würschinger, Tax Partner, Mazars in Germany
- Neil Rolfe, Partner, Head of Insurance Tax, Mazars in the UK
Dealing with GloBE requires an international approach that joins the dots between how parent entities and subsidiaries are impacted based on revenue and location. As an internationally integrated partnership, we have the ability to draw on the expertise of our professionals worldwide and collaborate closely with impacted clients
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CbCR legislation aligned with the EU Directive
21 July 2023 • In September 2022, Romania became the first EU member state to publish legislation transposing the EU Public CbCR Directive • According to Order 1730/2023, only Romanian entities with an ultimate parent company established in a non-EU Member State need to report under the EU directive • Multinational groups with a non-EU parent will have to meet the Romanian publication deadline of 31 December 2024
Pillar 2 GloBE
More than 140 jurisdictions have now signed up in principle to the global minimum tax framework, representing a ground-breaking plan to update key elements of the international tax system, which is no longer fit for purpose in a global and digitalised economy.