PKF Econometrica

Sustainability reporting under CSRD has changed significantly.
Through the Stop-the-clock mechanism, the European Commission postponed Wave II reporting obligations by two years. Companies originally due to report in 2026 or 2027 now have until 2028 (for financial year 2027).

The Omnibus I proposal goes further, narrowing the scope to large companies with more than 1,000 employees — meaning many companies initially covered by Wave II will fall outside the mandatory reporting framework.
🔹 More time for Wave II companies to prepare for ESRS reporting
🔹 Companies under 1,000 employees may no longer be required to report
🔹 Voluntary reporting standards are being prepared for those outside the mandatory scope

The simplification is welcome — but ESG transparency remains a baseline expectation for doing business in Europe.

Starting July 1st, 2026, the gross national minimum wage increases from RON 4.050 to RON 4.325 — a 6.8% rise.

Key figures:
🔹 New gross minimum: RON 4.325/month
🔹 New net minimum: approx. RON 2.699/month
🔹 Total cost to the employer: approx. RON 4.418/month
🔹 The non-taxable amount decreases from RON 300 to RON 200

The change will directly affect around 1.7 million employees — almost double the current 831.000 paid at minimum wage, due to ripple effects on nearby salary levels.

What employers should prepare:
🔹 Addenda to employment contracts for affected employees
🔹 Updated payroll calculations from July 1, 2026
🔹 A review of internal salary grids

Preparing documents and updating payroll systems in advance avoids issues at month-end.

CBAM is no longer just a reporting exercise — it is now a real cost.

Starting January 1, 2026, EU imports of steel, aluminium, cement, fertilisers, electricity, and hydrogen are subject to a financial obligation, payable in 2027.

What this means for importers:
🔹 Importers above 50 tonnes per year must register as Authorized CBAM Declarants by March 31, 2026
🔹 Real emissions data from suppliers reduces costs compared to default values
🔹 CBAM data also feeds into CSRD sustainability reporting

Costs will rise as the EU phases out free emission allowances through 2034. Plan your forecast now.

The annual financial statements deadline is no longer just a formality.

For SRLs, the deadline for submitting the 2025 annual financial statements is June 2nd 2026, as the legal deadline falls on a non-working day.

Starting January 1st 2026, failing to submit the annual financial statements within 5 months after the legal deadline may lead to the company being declared fiscally inactive.

The consequences are significant:
🔹 The VAT code is annuled from the date the tax authorities communicate the fiscal inactivity decision
🔹 Clients can no longer deduct expenses based on invoices issued by the company
🔹 Business activity may be seriously disrupted

In addition, companies already declared inactive risk dissolution if they are not reactivated within 12 months.

Filing deadlines now require the same level of attention as tax return deadlines.

The Romanian microenterprise tax regime has been simplified.
Starting January 1, 2026:
🔹 The 3% tax rate has been eliminated
🔹 A single 1% rate now applies to all microenterprises

This brings back the simpler structure that existed before the two-tier system was introduced — and reduces complexity for SMEs operating under this regime.

If you run a microenterprise, this is a good moment to review your tax position and confirm you continue to meet the eligibility criteria.

The PKF EMEI Gathering & Global Tax Pillar Meeting 2026 brought together leaders and experts from the PKF Global network — and PKF Econometrica was part of the conversation.

What we are bringing home:
🔹 A clearer view on where our profession is heading — from quality standards to the role of technology in shaping the services we deliver
🔹 New ideas on growth and innovation, shared with colleagues from over 200 member firms in 150 countries
🔹 Stronger connections across the network — the kind that translate, in time, into better service for our clients in Romania

Being part of PKF Global means our clients are backed by the experience of more than 23,000+ professionals worldwide. Lisbon was a good reminder of what that really means.

Live from the PKF EMEI Gathering & Global Tax Pillar Meeting in Lisbon.

Carmen Mataragiu, Founding Partner PKF Econometrica and member of PKF EMEI Board is taking an active part in the discussions shaping the future of the network — this year focused on a key theme: how the PKF network grows, and how it welcomes and integrates new member firms across the region.

As part of the program, Carmen contributed to the work of the MRD Subcommittee — the group responsible for streamlining decision-making, ensuring a consistent and high-quality review of membership applications, and guiding regional recruitment priorities for the EMEI Board.

Conversations and sessions alongside Christos Antoniou (Chairman of PKF International), Dominic Roberts (member of the PKF Global Board) and Wolfgang van Kerkom (member of the PKF EMEI Board) — a few days dedicated to the strategic direction of a network that brings together more than 200 member firms and over 21,000 professionals in 150 countries. The strength of a global network is built in rooms like these.

This week, PKF Econometrica is in Lisbon for the PKF EMEI Gathering — one of the most important annual meetings in the PKF Global network.
A few days dedicated to:
🔹 Growth and innovation across the EMEI region
🔹 Quality standards and the PKF Commitment
🔹 The role of technology in shaping the future of professional services
🔹 Brand development in a global context
PKF is a global network present in over 150 countries, bringing together more than 200 member firms and over 21,000 professionals worldwide. Behind every service we deliver to our clients in Romania stands the experience of this network — and events like the EMEI Gathering are where that collaboration is built.
More from Lisbon soon.

A short-lived rule has been removed — good news for many companies with foreign affiliates.

Law 239/2025 introduced a new limit on the deductibility of expenses for intellectual property, management, and advisory services received from non-resident affiliated entities, capped at 1% of total expenses starting January 1, 2026.

Just one month later, Government Ordinance 6/2026 (published in the Official Gazette on January 30, 2026) repealed this rule entirely.

What this means in practice:
🔹 Starting Q1 2026, these expenses follow the general deductibility rules under article 25 of the Tax Code
🔹 The change applies to all corporate income taxpayers, including those with quarterly or annual reporting
🔹 The Ministry of Finance cited risks of double taxation and discriminatory treatment, in the context of Romania’s OECD accession process

For groups with cross-border structures, this is a welcome simplification. Transfer pricing rules still apply — so well-documented intercompany agreements remain essential.

Today we are proud to be part of a special moment — celebrating 10 years of HEKS/EPER Romania.

Since opening its Cluj-Napoca office in 2016, the Foundation has reached over 2.5 million people through its programs in Romania and abroad — supporting humanitarian aid, education, employment, and social inclusion for the most vulnerable communities.

In 2023, HEKS/EPER Romania became the first Romanian NGO certified as a partner of the European Commission's Directorate-General for Civil Protection and Humanitarian Aid (DG ECHO) — a recognition that places the organization at the highest level of international humanitarian standards.

We are honoured to count HEKS/EPER Romania among our clients, and we celebrate today everything they have built over the past decade — and the lives they continue to change every day.

Happy anniversary, HEKS/EPER Romania.