The fiscal inspections establish, almost invariably, additional obligations to pay the profit tax in the case of financial institutions. The pressure on them has increased with the introduction of DAC6 cross-border transactions reporting obligations, in addition to existing reporting requirements, which could also raise issues in practice, for example FATCA (The Foreign Account Tax Compliance Act) and CRS (Common Standard Reporting).
For more information, please see the Romanian version of the article, here.
