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ARTICLE · 20 FEBRUARY 2019

Tax Authorities' Iceberg Aims To Sink Multinationals' Titanic

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Project Iceberg, launched at the beginning of this year by the Romanian tax authorities, is a giant nationwide operation to be implemented throughout 2019.

RomaniaTax
Theodor Artenie
Theodor Artenie
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Project Iceberg, launched at the beginning of this year by the Romanian tax authorities, is a giant nationwide operation to be implemented throughout 2019. It consists of a wave of tax audits on major multinational companies active in all sectors, with the aim to fight profit shifting.

Although the scale is unprecedented, the operation actually reflects older concerns of the Romanian tax authorities, including transfer pricing, which, as we anticipated in a previous newsletter, ranks high on their agenda.

The announcement has prompted a lot of discussion in Romania, as companies have little to go on when it comes to the selection criteria that the tax authorities will apply when defining the profile of the companies included in the programme. Any multinational company active in any sector is a potential Titanic targeted for "sinking" by the Romanian tax authorities' Iceberg operation, if that company:

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