Reporting cross-border transactions according to DAC6 – obligations for Romanian companies

A VPN is an essential component of IT security, whether you’re just starting a business or are already up and running. Most business interactions and transactions happen online and VPN
transactions according to DAC6

Do you ask yourself what your company’s obligations are according to DAC6 newly implemented provisions in Romania? Do you know that 31 August 2020 was the first deadline for reporting certain cross-border transactions in the European Union (EU), as per DAC6 provisions?

Or have you even heard of DAC6? Well, just to make sure that everyone knows what this is, DAC6 is the short term referring to the European Directive that requires taxpayers or any intermediaries (companies or individuals) to report certain cross-border transactions for tax purposes.

More precisely, it is the EU Council Directive 2011/16 which regulates certain cross-border tax arrangements within the EU. It is known also by the short name DAC6, and is in force as of 25 June 2018. In short, the main purpose of DAC6 is to secure transparency and fairness in taxation across the European Union member states through the reporting of certain types of cross-border transactions by EU taxpayers.

Related resources:
Other resources:

Expat-Center Romania

Expat-Center Romania

Leave a Reply

Your email address will not be published. Required fields are marked *

About Expat-Center Romania

Experience an immersive online platform providing an abundance of daily resources and invaluable guidance tailored exclusively for a thriving community of avid readers. Unlock a treasure trove of essential tools and information, empowering you to craft a remarkable expat life in Romania effortlessly and seamlessly.

Recent Posts

Follow Us
Sign up for our Newsletter

Enjoy Romanian life guiding articles, updates, stories, and many more!