Romania's Chamber of Deputies (lower house of parliament) is considering draft Bill 343/2021, which was submitted on 20 September 2021 and provides for the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). After the internal ratification process is completed, Romania must deposit its ratification instrument to bring the MLI into force for its covered agreements (tax treaties).
The MLI will generally enter into force for a particular covered agreement on the first day of the month following a three-month period after both parties to the covered agreement have deposited their ratification instrument. With respect to the effect of the MLI, Romania has taken the reservation that for the MLI to become effective, Romania must first deposit a notification that it has completed its internal procedures for the entry into effect of the MLI for a particular covered agreement. As such, the provisions of the MLI will generally apply for a covered agreement:
Further, for Romania's own application of the MLI in respect of other taxes, Romania has taken the reservation that the MLI will apply for tax periods beginning on or after 1 January of the next calendar year following a six-month period after the MLI's entry into force.
Click the following link for Romania's provisional list of reservations and notifications at the time of signature. A definitive list will be provided when the ratification instrument is deposited.