Business #19 Legislative focus

Last week, ANAF issued a draft order introducing new rules for companies that carry out transactions with affiliated entities within the same group. These rules would allow companies to obtain Advance Pricing Agreements covering both future transactions and, in certain cases, up to five previous tax years. The new framework aims to increase tax certainty but also introduces additional compliance requirements for affected companies.

Companies involved in intra-group transactions would face more extensive transfer pricing documentation and annual reporting requirements. Moreover, businesses would be required to provide more detailed information on how prices are set for intra-group transactions and submit annual reports to the tax authorities.

The Chamber of Deputies, as the decisional forum, has rejected a legislative proposal that would have granted parents up to 5 paid days off per year to accompany their children to medical appointments. The number of leave days would have varied depending on the number of children and their health condition. Given the final rejection, the legislative process of this bill has come to an end.

Employers will not face any new leave-related obligations or staffing costs associated with the proposal. The current rules on employee leave entitlements remain unchanged.