Executive summaryRecently, the Romanian Government published Law no. 123/ 20211 regarding the approval of Government Ordinance no. 5/ 2020 amending the provisions of DAC 6 Directive as transposed in the Fiscal Procedure Code (Mandatory Disclosure Rules (MDR) legislation), in the Official Gazette. The amendments relate to:Introduction of an exemption from reporting if certain conditions applyUpdates to hallmarks B (specific hallmarks related to the main benefit test) and E (transfer pricing hallmarks)The amendments are effective as of 7 May 2021.Key highlightsDAC6 imposes the obligation on intermediaries or taxpayers to report to the tax authorities potentially aggressive cross-border tax arrangements, identified based on...