Romania: transfer pricing (prețuri de transfer)

General reference only. This skill is general tax reference material for AI-assisted workflows. It has not been reviewed for any specific company's facts, transactions or filings. Do not rely on it to file, price a transaction or take a tax position without review by a qualified professional in Romania.

Tax year: 2026, the calendar year unless the company has a modified fiscal year. Currency: leu (RON); the documentation thresholds are set in euro. Authority: ANAF (Agenția Națională de Administrare Fiscală); its transfer pricing and APA directorate (DPTAPA) runs APAs and mutual agreement cases.

The law:

• Legea 227/2015, the Fiscal Code ("CF"): art. 7 pt. 26 (affiliated persons), art. 7 pt. 33 (arm's length principle), art. 11(4) (adjustment and methods).
• Legea 207/2015, the Fiscal Procedure Code ("CPF"): art. 52 (APAs), art. 108(2) (the file), art. 283 (domestic corresponding adjustment), art. 291^3 and annex 3 (CbCR), art. 336 (fines).
• ANAF President's Order 828/2026 ("the Order"), Monitorul Oficial nr. 543 of 2 July 2026: thresholds, deadlines, content, and the adjustment and estimation procedure. Its annual file duty for large taxpayers covers transactions from 2026 (Order art. 15(1)). The rest of the Order applies to administration procedures started after 1 January 2027 (art. 15(2)).
• ANAF President's Order 442/2016, the earlier order, still governs procedures started before 1 January 2027 (Order 828/2026 art. 15(3)). It is not used in this skill for 2026.
• ANAF President's Order 827/2026 (same Monitorul Oficial): the APA procedure. It applies to APA requests filed from its entry into force; earlier requests stay under Order 3735/2015 (Order 827/2026 art. 3).

Both codes were read on 23 October 2026 in ANAF's consolidated texts, shown as last updated by Legea 170/2026. ANAF notes these are not an official republication. Orders 828/2026 and 827/2026 were read in ANAF's copies of the texts published in Monitorul Oficial nr. 543 of 2 July 2026.

See also: ro-corporate-income-tax (rate, base, interest limitation, return and payment), ro-cross-border (residence, withholding on outbound payments, exit tax, and the general penalty rules), ro-vat-return.

Who this applies to

• Any taxpayer that deals with an affiliated person. Transactions between affiliated persons must follow the market value (arm's length) principle (CF art. 11(4); for companies also art. 19(6)). This covers companies, permanent establishments of foreign companies, and individuals. It applies to cross-border and to purely domestic transactions (ANAF transfer pricing guide, section 1).

• Affiliated persons (CF art. 7 pt. 26). A person is affiliated with another in at least one of these cases:

  • two individuals who are spouses or relatives up to the third degree;
  • an individual and a legal person, where the individual holds, directly or indirectly, including holdings of the individual's affiliated persons, at least 25% of the value or number of shares or voting rights, or effectively controls it;
  • two legal persons, where one holds at least 25% in the other on the same basis, or effectively controls it;
  • two legal persons, where a third person holds at least 25% in both on the same basis, or effectively controls both.

• Who must prepare the file, and when. The Order splits taxpayers into three groups:

  Group	Duty	Rule
  Large taxpayers (designated by ANAF order) with a transaction at or above a large-taxpayer threshold	Prepare the file every year and file it in SPV	Order art. 2(1), (2) and (5)
  Small and medium taxpayers with a transaction at or above a lower threshold	Prepare and present the file only when requested in a tax control	Order art. 2(7)
  Taxpayers with no transaction at or above the thresholds	No file, unless ANAF's risk analysis justifies a request in a tax control for set transactions and periods	Order art. 2(10) and (11)

• How the threshold is measured. Separately for each affiliated person and each transaction, excluding VAT, converted at the National Bank of Romania rate for the last day of the fiscal year (Order art. 2(3), (4), (8) and (9)). The file covers only the transactions with each affiliated person that reach the threshold for their category. Transactions with different affiliates are not added together.

• Fiscal groups. Each member of a corporate tax fiscal group prepares its own file, covering transactions with other members and with affiliates outside the group. The responsible legal person presents the files (CF art. 42^6).

• No file needed for the transaction and period covered by an ANAF APA, or for transactions and periods covered by an adjustment/estimation decision under CPF art. 283, provided the affiliated person concerned has applied that decision (Order art. 6).

Rates, bands and thresholds

Item	Rate or amount	Year	Source URL
Affiliation holding test	25% of shares or voting rights, direct or indirect, or effective control	2026	https://static.anaf.ro/static/10/Anaf/legislatie/Cod_fiscal_norme_2023.htm
Large taxpayer annual file: services provided or acquired, per affiliated person	EUR 100,000	2026	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf
Large taxpayer annual file: financing (interest income or expense), per affiliated person	EUR 200,000	2026	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf
Large taxpayer annual file: sale or purchase of intangible assets, and royalties, per affiliated person	EUR 250,000	2026	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf
Large taxpayer annual file: sale or purchase of tangible assets, per affiliated person	EUR 350,000	2026	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf
File on request (small and medium taxpayers): services, per affiliated person	EUR 50,000	2026	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf
File on request: financing (interest), per affiliated person	EUR 100,000	2026	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf
File on request: intangible assets and royalties, per affiliated person	EUR 150,000	2026	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf
File on request: tangible assets, per affiliated person	EUR 200,000	2026	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf
Adjustment point	median of the comparison interval; arithmetic mean of at least three comparables where there are too few to set an interval	2026	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf
Corporate income tax rate on an upward adjustment	16%	2026	https://static.anaf.ro/static/10/Anaf/legislatie/Cod_fiscal_norme_2023.htm
APA issue fee, large taxpayers (or transactions over EUR 4,000,000)	EUR 20,000; modification EUR 15,000	2026	https://static.anaf.ro/static/10/Anaf/cod_procedura/Cod_Procedura_Fiscala_2023.htm
APA issue fee, other taxpayers	EUR 10,000; modification EUR 6,000	2026	https://static.anaf.ro/static/10/Anaf/cod_procedura/Cod_Procedura_Fiscala_2023.htm
Fine for not preparing or not presenting the file: medium and large taxpayers	RON 12,000 to 14,000	2026	https://static.anaf.ro/static/10/Anaf/cod_procedura/Cod_Procedura_Fiscala_2023.htm
Same fine: other legal persons and individuals	RON 2,000 to 3,500	2026	https://static.anaf.ro/static/10/Anaf/cod_procedura/Cod_Procedura_Fiscala_2023.htm
CbCR group revenue threshold	EUR 750,000,000 consolidated revenue in the prior year	2026	https://static.anaf.ro/static/10/Anaf/cod_procedura/Cod_Procedura_Fiscala_2023.htm
CbCR fine: late, incorrect or incomplete report	RON 30,000 to 50,000	2026	https://static.anaf.ro/static/10/Anaf/cod_procedura/Cod_Procedura_Fiscala_2023.htm
CbCR fine: report not filed	RON 70,000 to 100,000	2026	https://static.anaf.ro/static/10/Anaf/cod_procedura/Cod_Procedura_Fiscala_2023.htm

These thresholds replace the six thresholds of Order 442/2016 (EUR 200,000 / 250,000 / 350,000 for large taxpayers, EUR 50,000 / 50,000 / 100,000 for others, measured across all affiliates together). ANAF's transfer pricing guide, updated November 2025, predates Order 828/2026 and still quotes the old figures. Do not use it for 2026 thresholds.

The taxable base

The arm's length principle. Where conditions between two affiliated persons differ from those that would exist between independent persons, the profit that would have arisen without those conditions can be added to that person's profit and taxed (CF art. 7 pt. 33).

Adjustment and estimation (CF art. 11(4)). ANAF can:

• adjust the income or expense of either affiliated party where arm's length is not respected; or
• estimate it where the taxpayer does not give ANAF the data needed to test the transfer prices.

In both cases the figure is set at the central tendency of the market.

Methods. The most appropriate of these applies (CF art. 11(4)):

• (a) comparable uncontrolled price;
• (b) cost plus;
• (c) resale price;
• (d) transactional net margin;
• (e) profit split;
• (f) any other method recognised in the OECD Transfer Pricing Guidelines.

The OECD Guidelines, as amended, apply in using art. 11(4). The Order is completed by them and by the OECD 2010 Report on the attribution of profits to permanent establishments (Order art. 12).

The range and the median (Order art. 8 to 11):

1. Where the tested party is Romanian resident, comparables are searched in Romania first. If there are not enough, the search widens in turn to the EU (including the UK), then EMEA, then worldwide (art. 9(1)(a)). Where the tested party is foreign, the search starts in its own jurisdiction, then its region, then worldwide (art. 9(1)(b) and (c)).
2. Comparables are enough only if they allow an interquartile range to be set (art. 9(2)).
3. Large taxpayers use data reasonably available when the prices are documented. Small and medium taxpayers use data reasonably available when the prices were set or the transactions took place (art. 10(1) and (2)).
4. The comparison interval is split into 4 equal segments. The first and last segments are extreme values and are dropped. What is left is the interquartile range (art. 10(3) to (5)).
5. A controlled transaction is arm's length if its profit indicator falls inside the interquartile range, or its price, margin or fee falls inside the comparison interval (art. 8).
6. If it falls outside, ANAF adjusts or estimates to the central tendency of the market, which is the median (art. 11(1) and (2)).
7. If there are not enough comparables to set an interval, ANAF identifies at least three comparables and uses their arithmetic mean (art. 11(2)).
8. Only data that both ANAF and the taxpayer could reasonably access may be used (art. 11(3)).
9. A multi-year comparables study covers at least 3 fiscal years. The study is handed over in Excel, with the search strategy, the accepted and rejected comparables and the range calculation (annex 2, section D).

When the file is missing or incomplete (Order art. 7):

• Not presenting the file on time, or presenting it incomplete, means the taxpayer has not shown its prices are arm's length (art. 7(3)).
• Incomplete includes missing the transaction description, contracts, functional analysis per transaction, the method's justification, the comparability analysis or the financial data behind the indicator (art. 7(4)).
• ANAF then estimates the transfer prices, only for the undocumented transactions and periods, at the central tendency of the market (art. 7(1) and (5)).

Domestic corresponding adjustment (CPF art. 283):

• Where ANAF adjusts one of two Romanian affiliated persons, the adjustment binds the tax office of the other one too (art. 283(2)).
• Once the assessment is final, ANAF issues an adjustment/estimation decision to the other party (art. 283(3) and (4)).
• That party can correct its return for the period of the transaction (art. 283(5)).
• Inside a corporate tax fiscal group, ANAF adjusts the other member by the same amount in the same inspection (art. 283(2^1)).

What the file contains (Order annex 2 and 3):

• Introductory information (A): identification, the period covered, and the list of transactions with each affiliated person in the annex 3 template (Excel and PDF), including year-end adjustments, APA-covered transactions and pass-through costs.
• Group information (B): the OECD master file content (annex I to chapter V of the OECD Guidelines).
• Taxpayer and transactions (C, points a to r): organisation chart and management roles, restructurings, business strategy, a functional analysis per transaction, the reasons for any aggregation of transactions, the tested party (with an independent auditor's report on a foreign tested party's indicator, optionally), the profit indicator and its cost base, comparability adjustments, a signed statement that the file is true and correct, and any other relevant information.
• Comparables study (D): search strategy and database version, accepted and rejected comparables with reasons, and the Excel workbook.

Formalities (Order art. 5(3) and (4)):

• Pages must be filed in order, numbered and indexed.
• Foreign-language documents need a Romanian translation.
• Annexes available electronically (Word, PDF, Excel) are handed over in an editable format.

Deadlines and filing

• Large taxpayers at or above the thresholds: annual file. It must be ready by the legal deadline for the annual corporate income tax return for that year (Order art. 2(2)). That return is due by 25 June of the next year (CF art. 42(1)). For 2026: 25 June 2027. A modified fiscal year files by the 25th of the sixth month after the year closes (CF art. 42(2)).
  • Filing in SPV. The file is then filed electronically in the Spațiul Privat Virtual, signed by the legal representative or an authorised person, within 30 working days of the corporate tax return deadline (Order art. 2(5)). This is new for 2026; under Order 442/2016 the file was only kept and presented on request.
  • If not filed in SPV. ANAF can ask for it during a tax control (Order art. 2(6)). It must be presented within at most 5 working days of the request (art. 4(1)).
• Small and medium taxpayers at or above the lower thresholds: file on request. It is prepared and presented only when requested in a tax control (Order art. 2(7)):
  • The control body sets the deadline in the request, between 30 and 60 working days from the date the request is communicated.
  • The deadline can be extended once, on a reasoned request, by at most 30 working days.
  • The control can be suspended for that time (Order art. 4(2) to (4); CPF art. 127(1)(b)).
• Below the thresholds, on a risk-based request. At least 30 working days from communication, extendable once by at most 30 working days (Order art. 2(11)).
• More information. On ANAF's written request, or on its own initiative, the taxpayer gives extra information to complete the file (Order art. 5(1)).
• APA annual report. An APA holder files a yearly report on how it met the terms of the APA. It is due by the deadline for the annual financial statements (CPF art. 52(13)).
• CbCR. The Romanian ultimate parent, or another reporting entity, files the country-by-country report within 12 months of the end of the group's reporting year (CPF art. 291^3(1)). For a calendar 2026 group year that is by 31 December 2027.
• CbCR notification. Each Romanian constituent entity must notify ANAF whether it is the reporting entity, or else name the reporting entity and its residence. The deadline is the last day of the group's reporting year, and no later than the deadline for the entity's tax return for the previous year (CPF annex 3, section II, pt. 7 and 8).
• Time limit for adjustments. ANAF can assess within 5 years. The period starts on 1 July of the year after the year the tax is due for (CPF art. 110(1) and (2)). It is 10 years where the tax results from a criminal offence (art. 110(3)).

Penalties and interest

• File not prepared or not presented (CPF art. 336(1)(e) and (2)(c)). It is a contravention to breach the duty to prepare the file under the conditions and deadlines of the Order, or to fail to present it when ANAF asks under art. 108(2). The fine is:
  • RON 12,000 to 14,000 for legal persons that are medium or large taxpayers;
  • RON 2,000 to 3,500 for other legal persons and for individuals.
• Estimation and extra tax. On top of the fine, ANAF estimates the transfer prices at the median, or at the mean of at least three comparables where there are too few for an interval (Order art. 7(5) and 11(2)). The extra profit is taxed at 16% (CF art. 17).
• Interest and penalties on the extra tax (CPF art. 174, 176, 181). The general rules are in ro-cross-border. In short:
  • interest of 0.02% a day (art. 174(5)). For an annual tax such as corporate income tax, interest on a difference found in a tax control runs from 1 January of the year after the tax year (art. 175(3));
  • a non-declaration penalty of 0.08% a day on tax assessed by ANAF. It falls by 75% if the assessed tax is paid or set off by the deadline in CPF art. 156(1), and it cannot exceed the tax it is charged on;
  • the 0.01% a day late payment penalty does not apply where the non-declaration penalty applies (art. 176(4)).
• CbCR fines (CPF art. 336(1)(u) and (v), (2)(l) and (m)):
  • late filing, or incorrect or incomplete information: RON 30,000 to 50,000;
  • not filing: RON 70,000 to 100,000.

Cross-border points

• Mutual agreement and arbitration (ANAF transfer pricing guide, section 9). An upward adjustment in Romania can be taken to:
  • the mutual agreement procedure under a Romanian tax treaty;
  • the EU Arbitration Convention;
  • the EU Dispute Resolution Directive (2017/1852), transposed in CPF art. 283^1 onward. The negotiating mandate considers all the art. 11(4) methods and the OECD Guidelines (CPF art. 282(11)).
• APAs (CPF art. 52):
  • Types. An APA sets, for a fixed period, how transfer prices for transactions with affiliated persons will be set. It can also cover the profit attributable to a permanent establishment (art. 52(2)). It can be unilateral, bilateral or multilateral; bilateral and multilateral APAs are only for counterparties in treaty states (art. 52(15)).
  • Rollback. On request, an APA can be extended back to up to five closed fiscal years before the year of the request, where the past transactions were on similar terms (art. 52(2^1)).
  • Fees. EUR 20,000 for large taxpayers, or where the consolidated value of the covered transactions exceeds EUR 4,000,000 or the taxpayer becomes a large taxpayer during the APA; EUR 10,000 for others. A modification costs EUR 15,000 or EUR 6,000. The fees are paid at the NBR rate on the day of payment (art. 52(17)). The fee is refunded if ANAF rejects the request (art. 52(19)).
  • Time to decide. 12 months for a unilateral APA and 18 months for a bilateral or multilateral one (art. 52(12)).
  • Binding effect. The APA binds ANAF only while the taxpayer meets its terms (art. 52(11)). A taxpayer that disagrees with the APA issued can notify ANAF within 30 days, and the APA then has no effect (art. 52(9)).
  • Changes. A request to extend, widen or revise the APA must be filed at least 30 days before it expires (art. 52(14)).
  • Length. An APA is issued for at most 5 years, one APA per transaction with an affiliated person (Order 827/2026, annex 1, pt. 9.1 and 9.2). The procedure is in Order 827/2026 for requests filed from its entry into force (art. 3).
• CbCR (CPF art. 291^3 and annex 3):
  • The report covers groups with consolidated revenue of at least EUR 750,000,000 in the year before the reporting year (annex 3, section I, pt. 4).
  • A Romanian entity that is not the ultimate parent files in Romania only in the fallback cases in annex 3, section II, pt. 1, for example where the parent's state does not require the report or does not exchange it.
  • The form is set by ANAF Order 3049/2017.
  • A transfer pricing adjustment by the receiving tax authority is not based on the CbCR information exchanged (CPF art. 299(7)).
• Outbound payments. Withholding on interest, royalties and service fees paid to affiliates abroad, and the company exit tax, are in ro-cross-border. The interest limitation rule (CF art. 40^2), including its EUR 500,000 ceiling for affiliated-party costs that do not fund assets, is in ro-corporate-income-tax.

Worked examples

Example 1: services charged below the interquartile range

A Romanian SRL, a medium taxpayer, provides software development services only to its German parent. In 2026 its operating costs are RON 10,000,000. It charges cost plus 2%. The services to that one affiliate are well above EUR 50,000, so the SRL must prepare a file when ANAF asks in a tax control (Order art. 2(7) and (8)(a)). It is not a large taxpayer, so there is no annual duty.

In a tax control started in 2027, ANAF benchmarks the net cost plus markup of eight independent companies, sorted from low to high: 2%, 3%, 4%, 5%, 6%, 7%, 9%, 12%.

1. Split the eight results into 4 equal segments of two. Drop the bottom two (2%, 3%) and the top two (9%, 12%) as extreme values (Order art. 10(5)).
2. Interquartile range: 4% to 7% (art. 10(4)).
3. The 2% markup is below 4%, so the price is not arm's length.
4. ANAF adjusts to the median (art. 11(2)). With an even number of values, the median is the mean of the two middle values: (5% + 6%) / 2 = 5.5%.
5. Arm's length charge: 10,000,000 x 1.055 = RON 10,550,000. Actual charge: 10,000,000 x 1.02 = RON 10,200,000.
6. Upward adjustment to income: RON 350,000.
7. Extra corporate income tax at 16%: RON 56,000. Interest and the non-declaration penalty run on it from the original due date (see Penalties and interest).
8. Relief in Germany is sought under the Romania-Germany treaty mutual agreement article or the EU Arbitration Convention.

name: RO SRL, services at cost plus 2% vs interquartile range 4%-7%, median 5.5%, costs RON 10m (2026)
inputs:
  costs: 10000000
  markup_charged: 0.02
  c3: 0.04
  c4: 0.05
  c5: 0.06
  c6: 0.07
  cit_rate: 0.16
steps:
  - range_low: c3
  - range_high: c6
  - median: (c4 + c5) / 2
  - arm_charge: costs * (1 + median)
  - actual_charge: costs * (1 + markup_charged)
  - adjustment: arm_charge - actual_charge
  - extra_tax: adjustment * cit_rate
expected:
  range_low: 0.04
  range_high: 0.07
  median: 0.055
  arm_charge: 10550000
  actual_charge: 10200000
  adjustment: 350000
  extra_tax: 56000

Example 2: large taxpayer does not present the file, estimate from three comparables

A Romanian manufacturer is a large taxpayer. In 2026 it sells goods to one affiliated distributor abroad for RON 50,000,000, at an operating margin of 1% of sales. The sales are far above EUR 350,000, so the file had to be ready by 25 June 2027 and filed in SPV within 30 working days after that (Order art. 2(2), (3)(d) and (5); CF art. 42(1)). The company files nothing.

In a tax control in autumn 2027, ANAF asks for the file, to be presented within 5 working days (Order art. 2(6) and 4(1)). The company presents nothing. ANAF fines it at the minimum and estimates the price. It finds too few comparables for an interquartile range, only three, with operating margins of 3%, 4% and 5%. The assessment is communicated on 1 December 2027, so the payment deadline is 5 January 2028 (CPF art. 156(1)(a)). The company pays the extra tax, interest and penalty on 31 December 2027.

1. Fine: RON 12,000, the bottom of the RON 12,000 to 14,000 range for large taxpayers (CPF art. 336(2)(c)).
2. Too few comparables for an interval, so ANAF uses the arithmetic mean of the three: (3% + 4% + 5%) / 3 = 4% (Order art. 11(2)).
3. Estimated arm's length profit: 50,000,000 x 4% = RON 2,000,000. Reported profit: 50,000,000 x 1% = RON 500,000.
4. Upward adjustment: RON 1,500,000. Extra corporate income tax at 16%: RON 240,000.
5. Interest runs from 1 January 2027, the first day of the year after the tax year, to 31 December 2027: 365 days. 240,000 x 0.02% x 365 = RON 17,520 (CPF art. 174(5) and 175(3)).
6. Non-declaration penalty, full: it runs from the day after the annual tax due date of 25 June 2027 (CF art. 41(1) and 42(1)), so 26 June to 31 December 2027: 189 days. 240,000 x 0.08% x 189 = RON 36,288 (CPF art. 181(1)). It is paid by the assessment deadline, so it falls by 75% to RON 9,072 (art. 181(2)). The 0.01% late payment penalty does not apply (art. 176(4)).
7. Total cost: 240,000 + 17,520 + 9,072 + 12,000 = RON 278,592.

name: RO large taxpayer, no TP file, mean of three comparables 4% vs 1%, sales RON 50m, interest 365 days, penalty 189 days (2026)
inputs:
  sales: 50000000
  margin_reported: 0.01
  comp1: 0.03
  comp2: 0.04
  comp3: 0.05
  cit_rate: 0.16
  interest_rate_day: 0.0002
  nondecl_rate_day: 0.0008
  nondecl_reduction: 0.75
  interest_days: 365
  penalty_days: 189
  fine: 12000
steps:
  - mean_margin: (comp1 + comp2 + comp3) / 3
  - arm_profit: sales * mean_margin
  - reported_profit: sales * margin_reported
  - adjustment: arm_profit - reported_profit
  - extra_tax: adjustment * cit_rate
  - interest: extra_tax * interest_rate_day * interest_days
  - nondecl_full: extra_tax * nondecl_rate_day * penalty_days
  - nondecl_reduced: nondecl_full * (1 - nondecl_reduction)
  - total_cost: extra_tax + interest + nondecl_reduced + fine
expected:
  mean_margin: 0.04
  arm_profit: 2000000
  reported_profit: 500000
  adjustment: 1500000
  extra_tax: 240000
  interest: 17520
  nondecl_full: 36288
  nondecl_reduced: 9072
  total_cost: 278592

Ask the client first

1. Is the company on ANAF's list of large taxpayers for 2026? Is it a medium or a small taxpayer? This sets the file duty and the fine band.
2. Who are its affiliated persons under the 25% or effective control test, counting indirect holdings and family members of individual owners?
3. What is the 2026 value of each transaction with each affiliated person, by category (services, interest, intangibles and royalties, tangible goods), excluding VAT, at the NBR rate on the last day of the year?
4. Does a file already exist? Which method and tested party does it use, and does it include a benchmark showing the full range and the comparables rejected?
5. Is there an APA with ANAF, or an earlier adjustment decision, that covers some of these transactions?
6. Is the group's consolidated revenue at least EUR 750 million, and has the Romanian entity sent its CbCR notification?

Sources

Source	URL	Read on
Fiscal Code (Legea 227/2015), ANAF consolidated text, last update Legea 170/2026: art. 7 pt. 26 and 33, art. 11(4), art. 19(6), art. 17, art. 41, art. 42, art. 42^6	https://static.anaf.ro/static/10/Anaf/legislatie/Cod_fiscal_norme_2023.htm	2026-10-23
Fiscal Procedure Code (Legea 207/2015), ANAF consolidated text, last update Legea 170/2026: art. 52, 108(2), 110, 127, 156, 174, 175, 176, 181, 282, 283, 291^3, 299, 336, annex 3	https://static.anaf.ro/static/10/Anaf/cod_procedura/Cod_Procedura_Fiscala_2023.htm	2026-10-23
ANAF President's Order 828/2026 (MO nr. 543 of 2 July 2026), transfer pricing file, ANAF copy	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_828_2026.pdf	2026-10-23
ANAF President's Order 827/2026 (MO nr. 543 of 2 July 2026), APA procedure, ANAF copy	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_827_2026.pdf	2026-10-23
ANAF President's Order 442/2016 (MO nr. 74 of 2 February 2016), earlier transfer pricing file order, ANAF copy	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_442_2016.pdf	2026-10-23
ANAF President's Order 3049/2017 (MO nr. 894 of 14 November 2017), CbCR form, ANAF copy	https://static.anaf.ro/static/10/Anaf/legislatie/OPANAF_3049_2017.pdf	2026-10-23
ANAF, Ghid al prețurilor de transfer (updated November 2025; predates Order 828/2026)	https://static.anaf.ro/static/10/Anaf/Prezentare_R/Ghid%20Preturi%20de%20Transfer%20(1).pdf	2026-10-23

Not yet confirmed: (1) Whether several contracts of the same category with one affiliated person are added together for the Order 828/2026 thresholds. The Order measures "each individual transaction with each affiliated person" (art. 2(3) and (8)) and does not define a transaction. (2) Whether filing the annual file late in SPV, while it was prepared on time, is itself fined under CPF art. 336(1)(e). (3) The Portal Legislativ (legislatie.just.ro) could not be loaded on 23 October 2026, so no later amendment to Order 828/2026 was checked there. ANAF's consolidated Procedure Code still lists Order "446/2016" (a typing error for 442/2016) under art. 108(2) and does not yet list Order 828/2026. (4) Whether ANAF spreads the non-declaration penalty on a corporate tax difference across the quarterly due dates rather than starting it after the annual due date, as Example 2 does. (5) Whether a reduced fine for paying half the minimum within 15 days applies under the general contraventions law (OG 2/2001), which was not read. (6) The treatment of secondary adjustments, such as whether an excess paid to a foreign parent becomes a dividend, was not researched. (7) Whether the CbCR report, the CbCR notification and the SPV filing deadline move when they fall on a non-working day was not checked.

Contributed by Ryan Duguid.