Finance News by Forvis Mazars March 2026

Tue | 31.03.2026

Accounting/audit/tax

Implementation of DAC9 in Romania: penalties of up to RON 30,000 for failure to comply with the new reporting requirements

The DAC9 Directive, the latest step in strengthening administrative cooperation in taxation at European Union (EU) level, was transposed into Romanian legislation on 30 January 2026.

Forvis Mazars’ tax experts have prepared a brief analysis, with the following key takeaways:

The introduction of the standardised GIR reporting at the EU level becomes mandatory for groups subject to the Pillar 2 rules.
The first reporting will take place no earlier than 1 December 2026 (for the first fiscal year starting after 31 December 2023).
Failure to comply with the new requirements may result in significant penalties of up to RON 30,000.

“The transposition of DAC9 marks an important step in aligning Romania with international standards on tax transparency. By introducing GIR and digitalising the reporting process, Romania contributes to the effective implementation of the Pillar 2 rules and to reducing the risks of tax avoidance. At the same time, the new requirements will require a high level of preparedness from the targeted groups, particularly with regard to collecting and reporting data in a standardised format.”, mentioned Liviu Gheorghiu, Tax Partner, Forvis Mazars in Romania.

The EU Pay Transparency Directive: quick fix or a defining moment for organisational maturity?

The EU Pay Transparency Directive 2023/970 is often framed as another reporting requirement ahead of the June 2026 transposition deadline. It isn’t.

It signals a fundamental shift in how organisations design, govern and justify their pay structures. The real question for organisations is simple: can you clearly and consistently explain why two employees are paid differently?

As highlighted by the HR & ESG Advisory expert at Forvis Mazars, the Directive represents a genuine test of organisational coherence and governance maturity. It compels organisations to make a strategic choice: approach pay transparency as minimum compliance, or leverage it to build trust, credibility and sustainable competitive advantage.

Changes impacting companies with net assets below the legal threshold

Law no. 239/2025 introduces stricter rules for companies whose net assets fall below the minimum threshold set by Companies’ Law no. 31/1990.

These restrictions concern the distribution of annual and quarterly dividends, the repayment of loans to affiliates, and the measures to be implemented for companies that do not take measures to restore their net assets.

Companies in this situation may face several restrictions, including:

Share capital reduction to cover uncovered losses.
Conversion of shareholder loans into share capital if net assets are not restored within two years.
No repayment of shareholder loans while net assets remain below the legal threshold.
No dividend distribution until net assets are restored.

Non-compliance may lead to fines ranging from RON 10,000 to RON 300,000.

Tax exemption incentive for reinvested profit

Emergency Ordinance No. 8/2026 brings important updates to the tax exemption for reinvested profit, potentially turning it into a permanent incentive.

Key points:

Accelerated depreciation available in 2026 for certain assets.
After 5 years, reserves can be distributed (partially taxable) or used tax-free for capital increase/loss coverage.
Dividend tax rules apply when reserves are used.

Companies should reassess investment plans, eligibility, and reserve management to benefit from this incentive.

Sell-side advisory: Your strategic partner for business exit

Selling your company is a defining moment. Whether you're planning an exit, raising growth capital, or moving to your next chapter, timing and preparation are everything.

At Forvis Mazars, their tailored M&A advisory services guide you through every stage of the sale process - maximising value and ensuring a smooth transaction. The real question isn’t if you should sell, but when and how to do it right.

See how prepared your business really is.

CEE and Central Asia Tax & Payroll Newsletter

The CEE and Central Asia Tax & Payroll Newsletter aims to share Forvis Mazars’ latest news on tax, labour, and payroll legislation in the region, aiming to helping you to prepare for the changes that could lie ahead in the following CEE countries: Austria, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia, Ukraine.

Insights to guide you through today’s evolving regional tax, labour, and payroll landscape:

Annual foreign income reporting: a practical guide for Croatia and broader CEE outlook.
Payroll leaders across Europe turning compliance and accuracy into growth levers.

This article is provided by our Finance Partner, Forvis Mazars Romania.

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