Romania updates transfer‑pricing rules and ANAF to treat intra‑group loans as equity

Romania's Ministry of Finance and the tax authority ANAF have issued two new orders that align the country's transfer‑pricing framework with OECD guidelines. The measures clarify the content of transfer‑pricing documentation and the procedure for advance pricing agreements, aiming for clearer, unitary application across taxpayers.

Separately, the Chamber of Fiscal Consultants has highlighted that ANAF is beginning to reclassify intra‑group loans as capital when interest levels exceed market norms. This re‑characterisation means the interest paid can no longer be deducted, increasing corporate tax burdens, but the current legislation does not specify how the corresponding payments to foreign parent companies should be taxed. The chamber has asked the finance ministry to amend the law to address this gap, especially as Romania prepares for OECD accession.