There are only two weeks left until the deadline for submitting the 2025 financial statements

Failure to submit the financial statements within the legal deadline may result in fines ranging from RON 300 to RON 4,500, depending on the length of the delay, while prolonged non-compliance may even lead to the taxpayer being declared fiscally inactive, with significant consequences for the company’s operations, including its relationships with business partners and tax authorities.

Starting with the 2025 financial year, financial statements and accounting reports must be submitted exclusively in electronic format, while the new entity classification thresholds, updated in line with EU Directive 2023/2775, may change reporting obligations for numerous companies.

At the same time, this year’s financial closing season is bringing into focus topics such as VAT and transfer pricing adjustments, the recovery of tax losses, equity compliance checks, the implementation of REGES-ONLINE and preparations for the new European pay transparency requirements.

Financial closing: focus on reviews, inventory procedures and the correct classification of entities

The 2025 financial closing process involves more than simply preparing the balance sheet. Companies are required to complete the inventory of assets, reconcile balances, assess adjustments and provisions and review the accounting policies and treatments applied.

“We are seeing a much higher level of attention from the authorities regarding the consistency and alignment between financial and tax reporting. In this context, companies must approach the financial closing process as a strategic exercise aimed at compliance and strengthening internal control mechanisms, rather than merely as an administrative obligation. The correct classification of the entity, the analysis of equity and the documentation of accounting adjustments are becoming essential elements in the preparation of the annual financial statements.”, said Mariana Dragomir, Partner, Outsourcing – Accounting, Forvis Mazars in Romania.

The new fiscal measures also introduce additional restrictions for companies reporting net accounting assets below half of the share capital, including limitations on dividend distributions and the repayment of loans to shareholders or associates until equity is restored.

Tax adjustments and VAT remain key risk areas for companies

From a tax perspective, VAT adjustments resulting from the annual inventory process, the treatment of uncollected receivables and the implications of transfer pricing adjustments continue to represent the main areas of risk for taxpayers.

At the same time, companies must properly finalise the corporate income tax calculation, including the verification of the deductibility of social expenses, protocol expenses and impairment adjustments.

“The tax authorities are paying increasingly close attention to the documentation of tax adjustments and intragroup transactions. Particularly in the case of transfer pricing adjustments, companies must be able to clearly demonstrate the economic substance of the services and the VAT treatment applied. At the same time, finalising the corporate income tax calculation requires increased attention to the deductibility of certain categories of expenses and to the recovery of tax losses.”, noted Mihaela Hampu, Director, Tax, Forvis Mazars in Romania.

The 2025 fiscal year is also the final year in which the incentives provided under Government Emergency Ordinance (GEO) 153/2020 regarding bonuses for maintaining or increasing equity capital remain applicable.

REGES-ONLINE and Territorial Labour Inspectorate (ITM) controls are reshaping the HR agenda

In the HR & Payroll area, following the completion of the migration process to REGES-ONLINE on 31 December 2025, employers’ attention is shifting from the technical aspects of the transition toward operational compliance and the quality of the reported data, in line with the provisions of Government Decision No. 295/2025 and Order No. 1107/2025.

For many organisations, this new framework requires the verification and correction of the information already recorded in the system, as well as the alignment of internal HR and Payroll processes with the current requirements for reporting and managing employee and individual employment contract data.

At the same time, the intensification of Territorial Labour Inspectorate (ITM) controls is placing greater emphasis on working time records, the accurate completion and submission of data in REGES-ONLINE and the compliance of personnel files, beyond the mere existence of the reports themselves.

“The completion of the migration to REGES-ONLINE does not mean the end of employers’ efforts. On the contrary, the current stage highlights the need to clean and update data, review internal processes and clarify responsibilities regarding the management of employee information. In addition, Labour Inspectorate controls are increasingly focused on documentation compliance and the accuracy of actual reporting, not just on meeting formal deadlines.”, explained Anca Lamba, Senior Manager, Outsourcing - HR & Payroll, Forvis Mazars in Romania.

Pay transparency is becoming a strategic project for companies

The European Pay Transparency Directive, which must be transposed into national legislation by 7 June 2026, has entered a decisive stage for companies in Romania as well, following the publication of the national legislative draft for public consultation at the end of March 2026.

The new rules will impact all employers, regardless of size, and will fundamentally change the way organisations establish, document and communicate remuneration policies. The targeted obligations include transparency regarding salary grids, employees’ access to information on remuneration and promotion criteria, as well as reporting on gender pay gaps.

In addition, companies will need to demonstrate that compensation policies are based on objective and gender-neutral criteria, while organisations recording significant pay gaps may be required to implement corrective measures and action plans.

“The transposition deadline for the European Pay Transparency Directive is approaching rapidly, and since the publication of the legislative draft in Romania on 30 March, the topic has generated increasing debate within the business environment, particularly regarding how companies will adapt their remuneration policies and internal processes. In practice, many companies are discovering that they still lack a clear role architecture, consistent evaluation criteria, or sufficient mechanisms to justify salary differences. Beyond compliance, pay transparency will have a direct impact on organisational culture, employee retention and employer reputation.”, noted Florina Ilie, Senior Manager, HR & ESG Advisory, Forvis Mazars in Romania.

The 2 June deadline requires increased rigour. We recommend that companies prioritise internal audits and data reconciliation during this period to ensure that the 2025 financial statements accurately reflect economic reality and comply with the new reporting requirements.

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Press contacts

Emilia Popa, Head of Marketing, Communication, and Business Development, Forvis Mazars in CEE & in Romania
emilia.popa@forvismazars.com  / +4 0741 111 042

Mădălina Lazăr, PR & Corporate Communication Manager, Forvis Mazars in Romania
madalina.lazar@forvismazars.com  / +4 0763 385 622