| PROLONGATION OF DEADLINES FOR CERTAIN SUSTAINABILITY REPORTING REQUIREMENTS | |
| RELEVANT REGULATIONS: | Order no. 1421/2025, issued by Ministry of Finance, regarding the dates from which certain sustainability reporting requirements shall apply, published on August 22nd, 2025 in the Official Gazette of Romania no. 786 (“Order no. 1421/2025”). |
| ENTRY INTO FORCE | August 22nd, 2025. |
| REGULATIONS SUPPLEMENTED OR AMENDED BY ORDER NO. 1421/2025 | (i) The Accounting Regulations on individual annual financial statements and consolidated annual financial statements, approved by Order of the Minister of Public Finance no. 1802/2014, published in the Official Gazette of Romania, Part I, no. 963 of December 30th, 2014, as subsequently amended and supplemented; (ii) Order of the Minister of Public Finance no. 2844/2016 approving the Accounting Regulations compliant with the International Financial Reporting Standards, published in the Official Gazette of Romania, Part I, no. 1020 and 1020 bis of December 19th, 2016, as subsequently amended and supplemented; (iii) Order of the Minister of Finance no. 85/2024 on the regulation of matters concerning sustainability reporting, published in the Official Gazette of Romania, Part I, no. 75 of January 26, 2024. |
| RELEVANT ASPECTS | (i) Directive (EU) 2025/794 of the European Parliament and of the Council of 14 April 2025 amending Directives (EU) 2022/2464 and (EU) 2024/1760 as regards the dates from which Member States are to apply certain corporate sustainability reporting and due diligence requirements has been partially transposed into Romanian law through the supplementing of Order of the Minister of Public Finance no. 2844/2016 and of the Accounting Regulations on individual annual financial statements and consolidated annual financial statements, approved by Order of the Minister of Public Finance no. 1802/2014; (ii) The deadlines for certain sustainability reporting requirements laid down in Order of the Minister of Finance no. 85/2024 have been extended by two (2) years. -The companies concerned, whose first financial reporting year would have commenced on 1 January 2025, shall submit their first report for the year commencing on 1 January 2027; -The companies concerned, whose first financial reporting year would have commenced on 1 January 2026, shall submit their first report for the year commencing on 1 January 2028. |
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