Romania joined the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS).

Finance minister Viorel Stefan signed the document for Romania at a ceremony in Paris, together with ministers and high officials from 75 other countries.

The members of this convention aim to swiftly implement a series of tax treaty measures to update the existing network of bilateral tax treaties and reduce opportunities for tax avoidance by multinational enterprises. The new convention will also strengthen provisions to resolve treaty disputes, including through mandatory binding arbitration, thereby reducing double taxation and increasing tax certainty, according to OECD representatives.

Romanian Prime Minister Sorin Grindeanu was also present at the ceremony.

Romania also joined OCDE’s Nuclear Energy Agency on Wednesday. On this occasion, PM Grindeanu said that Romania is fully prepared to start the negotiations for joining the Organization for Economic Co-operation and Development (OECD).

editor@romania-insider.com

(photo source: Ministerul Finanţelor Publice - România on Facebook)