Latest Treaty Updates: Romania


Treaty Update: Isle of Man - Romania

10/11/2015

The Isle of Man signed a TIEA with Romania on November 4, 2015.


Treaty Update: Moldova - Romania

2/9/2015

Moldova's state news agency said on August 26, 2015, that the nation will negotiate a DTA with Romania.


Treaty Update: Jersey - Romania

5/12/2014

Jersey signed a TIEA with Romania on December 1, 2014.


Treaty Update: Uruguay - Romania

17/9/2014

Uruguay completed its domestic ratification procedures on August 28, 2014, with respect to the DTA signed with Romania.


Treaty Update: Bulgaria - Romania

25/4/2014

According to preliminary media reports, Bulgaria's Cabinet has approved the signing of a new DTA with Romania.


Treaty Update: Romania - Austria

8/4/2013

According to preliminary media reports, the Romanian Government on April 3, 2013, approved a law that would ratify the pending Protocol to the nation's DTA with Austria.


Treaty Update: Romania - Armenia

19/12/2012

On December 12, 2012, the Romanian government approved a proposal for negotiations to start on a Protocol to the 1996 DTA with Armenia.


Treaty Update: Romania - Luxembourg

22/10/2012

Romania's parliament on October 18, 2012, ratified the pending Protocol to the DTA signed between Romania and Luxembourg on October 4, 2012.


Treaty Update: Austria - Romania

4/10/2012

Austria and Romania signed a DTA Protocol on October 1, 2012, to add provisions for the exchange of tax information in line with international standards.


Treaty Update: Uruguay - Romania

18/9/2012

Uruguay and Romania signed a DTA on September 14, 2012.


Treaty Update: Switzerland - Romania

30/7/2012

The Swiss government has confirmed that the Protocol to the DTA between Switzerland and Romania, entered into force on July 6, 2012.


Treaty Update: Romania - Luxembourg

22/6/2012

According to preliminary media reports, Romania's President Traian Basescu, on June 12, 2012, approved a law ratifying the DTA signed between Romania and Luxembourg, and forwarded the law to parliament for completion of the nation's ratification procedures.


Treaty Update: Saudi Arabia - Romania

29/3/2012

According to preliminary media reports, the Saudi government approved a law on March 26, 2012, that would ratify the pending DTA and accompanying Protocol signed between Saudi Arabia and Romania.


Treaty Update: Guernsey - Romania

16/12/2011

According to preliminary media reports, Romania's parliament on December 7, 2011, ratified the TIEA signed between Romania and Guernsey earlier this year.


Treaty Update: Romania - Switzerland

25/10/2011

According to preliminary media reports, the lower house of Romania's parliament, the Chamber of Deputies, on October 12 approved a law ratifying a protocol to the DTA signed between Romania and Switzerland.


Treaty Update: Luxembourg - Romania

10/10/2011

According to preliminary media reports, a protocol amending the 1993 DTA between Luxembourg and Romania was signed on October 4, 2011.


Treaty Update: Romania - Saudi Arabia

28/9/2011

According to preliminary media reports, the Romanian government has approved a draft law ratifying the pending DTA and accompanying Protocol signed between Romania and Saudi Arabia.


Treaty Update: Romania - Switzerland

2/8/2011

According to preliminary media reports, a protocol to the 1993 DTA between Switzerland and Romania has been forwarded to the Romanian parliament for ratification following government approval on July 20, 2011.


Treaty Update: Romania - San Marino

13/6/2011

Romania ratified


Treaty Update: Switzerland - Romania

1/6/2011

The treaty revises the existing treaty in the areas of income and wealth taxation. The DTA also provides for the exchange of information to internationally accepted standards. Dividends are are exempt from taxation where the payee has a meaningful stake of at least 25% of the capital of the distributing company, and where dividends are paid to pension funds. Interest witholding tax is limited to 5%. The DTA also provides a most favoured nation clause.


Treaty Update: Romania - Guernsey

25/5/2011

The TIEA is to enter into force 30 days after it has been ratified, and apply in criminal matters from the date of entry into force, and with respect to other matters from the date of entry into force, but but only in respect of taxable periods beginning on or after that date or, where there is no taxable period, for all charges to tax arising on or after that date. In Romania, it applies to income tax and the tax on profit. In Guernsey it applies to income tax and dwellings profit tax. The TIEA provides for the exchnage of information elevant to the administration and enforcement of domestic tax laws, and the determination, assessment and collection of taxes, the recovery and enforcement of tax claims, and the investigation/prosecution of tax matters. The TIEA also provides for the exchange of information held by banks and other financial institutions, and information regarding the ownership of companies, partnerships, and, in certain cases, investment funds or schemes, trusts and foundations. The TIEA also contains a mutual assistance procedure and a mutual agreement procedure.


Treaty Update: Romania - Saudi Arabia

25/5/2011

Press release contained very little additional information on the nature of the DTA.




Treaty Updates by Territory


Latest News


Austria, Romania Sign DTA 3/10/2012
Austrian Financial State Secretary Andreas Schieder and Romania’s ambassador Silvia Davidoiu have recently signed a bilateral double taxation agreement between the two countries.

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Revised Swiss DTAs In Force 30/7/2012
The Swiss Federal Department of Finance has recently announced that the Protocols of Amendment to the double taxation agreements between Switzerland and Romania and between Switzerland and South Korea have now entered into force.

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Switzerland Submits 6 DTAs For Approval 5/9/2011
The Swiss Federal Council has submitted six double tax agreements, with South Korea, Malta, Romania, Sweden, Singapore and Slovakia, to parliament for approval.

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Romania Signs DTA With Saudi Arabia 3/5/2011
During the first visit by the Romanian Minister for Foreign Affairs, Teodor Baconschi to Saudi Arabia, the diplomat signed a convention for the avoidance of double taxation with his Saudi counterpart Prince Saud Al Faisal.

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Switzerland, Romania Sign Revised DTA 2/3/2011
Switzerland and Romania have recently signed the protocol amending the bilateral double taxation agreement in place between the two countries in the area of taxes on income and capital.

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EU Launches Multi-Year Review Of Cross-Border Taxation 23/12/2010
The European Commission has published a Consultation, which marks the commencement of a comprehensive multi-year review of the major cross-border issues faced by EU citizens, and proposes solutions for them.

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Switzerland, Romania Initial Revised DTA 18/11/2010
Switzerland and Romania have concluded negotiations on revising the existing bilateral double taxation agreement in place between the two countries, and have initialled the revised agreement, which contains an administrative assistance clause in accordance with the Organization for Economic Cooperation and Development’s standard.

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NZ Emissions 'Tax' Attacked 15/3/2010
The ACT New Zealand Party, a member of the country’s present coalition government, has continued its opposition to New Zealand’s new carbon emissions trading scheme, calling it a tax that will increase inflation in the economy.

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Hong Kong Property Taxes Reviewed 16/3/2010
Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget speech at the Joint Business Community Luncheon on March 12 and, in particular, reviewed the tax measures taken to increase the transaction cost of property speculation so as to reduce the risk of a property bubble being created.

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Malaysia Not Cancelling GST 12/3/2010
After a government meeting, Malaysia’s Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah, has rejected any suggestion that the proposed introduction of a goods and services tax has been cancelled.

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Australia Promised Full Debate On Tax Review 15/3/2010
Following indications that the Australian government was thinking of a delay to the release of the Henry tax review, the Treasurer, Wayne Swan, has now confirmed that it will be issued in good time for a full debate on any proposed tax changes.

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Orascom Loses Algerian Tax Appeal 12/3/2010
Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary, Orascom Telecom Algérie, has received a rejection to its appeal, made in December last year, against the notice for taxes and penalties it had received from the Algerian tax authorities the month previously.

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Switzerland, Slovakia Initial Revised DTA 12/3/2010
It has recently emerged that Switzerland and Slovakia have initialled a revised bilateral double taxation agreement, containing the Organization for Economic Cooperation and Development’s standard on tax information exchange.

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UK Budget To Hit The Rich 12/3/2010
Wealthy individuals may have less than two weeks to put plans in place to reduce the tax impact of the Chancellor’s pre-election Budget, warns PKF Accountants and business advisers.

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Germany Approves Liechtenstein TIEA 15/3/2010
Germany’s Cabinet has recently approved a bill pertaining to the bilateral tax information exchange agreement with Liechtenstein.

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UAE Completes VAT Study 12/3/2010
Authorities in the United Arab Emirates are inching closer to the introduction of a value-added tax.

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IRS Offers Help To Struggling Taxpayers 14/3/2010
The US Internal Revenue Service has announced several additional steps it is taking this tax season to help people having difficulties meeting their tax obligations because of unemployment or other financial problems.

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Baucus Seeks Trade Preference Reform 15/3/2010
Senate Finance Committee Chairman Max Baucus is leading efforts for reform of US trade preference programs accorded to developing countries.

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Jersey Riding Out Onshore Storm 15/3/2010
Jersey will overcome the evolving challenges being faced by offshore international financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants at a Breakfast Briefing in London.

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OECD Urges Fiscal Policy Shift 12/3/2010
Governments must now gear their economies towards jobs, international competitiveness and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for Growth’ report, analyzing the next step for recovering economies.

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BVI To Review Taxes And Fees 15/3/2010
British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.

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Bahrain And UK Sign DTA 11/3/2010
The Kingdom of Bahrain’s Minister of Finance, Shaikh Ahmed bin Mohammed Al Khalifa, and UK ambassador, Jamie Bowden, signed a comprehensive double taxation agreement between the two countries in Manama on March 10.

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Australia And Chile Sign DTA 11/3/2010
Australia’s Assistant Treasurer, Nick Sherry, has announced that Australia and Chile have signed a comprehensive bilateral double taxation agreement – the second such agreement between Australia and a South American country.

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Swiss-German Tax Talks Resume 12/3/2010
During a recent visit to Berlin, Switzerland’s State Secretary Michael Ambühl, Head of the State Secretariat for International Financial Matters in the Federal Department of Finance, met with representatives of Germany's Federal Ministry of Finance and Federal Chancellery to exchange ideas on current financial and tax policy issues.

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US Senate Approves Tax Extenders Bill 12/3/2010
US Senate Finance Committee Chairman Max Baucus has applauded the Senate’s passage of legislation to extend tax cuts, unemployment insurance benefits and eligibility for unemployment benefits and health care for unemployed workers through the end of 2010.

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