EU Commission Implementing Regulation 2024/2952 of 29 November 2024 establishing  a common template and electronic reporting formats for the application of Directive  2013/34/EU of the European Parliament and of the Council as regards the information to  be disclosed in corporate income tax reporting 

Through Implementing Regulation (EU) 2024/2952 published on the website https://eur lex.europa.eu clarifications are made regarding the visual presentation and content of the report on  corporate income tax information(Public Country by Country Report): 

• • The report on income tax information must be published free of charge, in Romanian, within 12  months from the date of the balance sheet of the financial year for which the report is prepared  on the official website of: 
    • Branches in Romania, established by entities that are not subject to the legislation of a  Member State of the European Union; 
    • Medium and large subsidiaries are entities that exceed, at the balance sheet date, at least  two of the following criteria: total assets of RON 25,000,000, net turnover of RON  50,000,000, average number of employees of 50, which are controlled by a non-EU parent  company with consolidated revenues exceeding RON 3,700,000,000 for each of the last  two consecutive financial years or 
    • Ultimate parent entity with a consolidated net turnover exceeding RON 3,700,000,000  (EUR 747,474,740) for each of the last two consecutive financial years. 
  • The aforementioned entities are exempt from publication on the official website if the report is  available on the website of the Romanian Trade Register, the company’s website must include a  link to this report.  
  • The report must remain publicly available for at least 5 consecutive years. The Common Model for the Corporate Income Tax Information Report is presented in Annex I. The Regulation provides a set of definitions for the application and use of certain terms. 
  • In accordance with Article 4 of Regulation (EU) 2024/2952 the report on income tax information  shall be prepared in XHTML format when submitted can have either a .html or .xhtml extension,  embedding Inline XBRL markings as specified in Annex II – Applicable XBRL specifications, and  mark the information using the basic taxonomy with the elements in Table 2 – List of taxonomy  elements of Annex IV – Taxonomy elements, complying with the requirements of Annex III – Marking up and filing requirements. 

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For additional details regarding the above, you can contact any member of the Taxhouse team or you can send us an e-mail at office@taxhouse.ro.