As reported by CECCAR Business Magazine, the Order of the Minister of Finance No. 1.730/2023 for the regulation of some accounting aspects was recently formalized. We present below the provisions of the normative act.
I. Amendments to the Accounting Regulations regarding the individual annual financial statements and the consolidated annual financial statements, approved by OMFP No. 1.802/2014
1. Regarding the obligation to submit the Report on the profit tax (point 5925 of the Regulations)
a) Medium and large subsidiaries, which are controlled by a final parent company that does not fall under the legislation of an EU member state, when the consolidated revenues exceeded on the date of its balance sheet, for each of the last two consecutive financial years, the amount of RON 3,700,000,000, as reflected in the consolidated annual financial statements, have the obligation to publish and ensure access to a report on the information regarding the profit tax concerning the said final parent company for the most recent of the respective two consecutive financial years.
What has changed: Consolidated net turnover has been replaced by „consolidated revenues”.
b) In the case of a group whose final parent company is from a third country, the obligation to publish the profit tax report can be fulfilled by any affiliated entity within the group, included in the scope of applicability of these regulations.
New provision introduced in the Accounting Regulations!
2. Regarding the content of the Profit Tax Report (point 5929 of the Regulations)
