The European Commission published, on 20 December 2007, a communication (COM(2007)839 final) containing:
| - | Recommendation for a Council Decision concerning the accession of Bulgaria and Romania to the Convention of 23 July 1990 on the elimination of double taxation in connection with the adjustment of profits of associated enterprises (Arbitration Convention); and | |
| - | Proposal for a Council Decision amending Annex I to the Act of Accession of Bulgaria and Romania. |
Accession of Bulgaria and Romania to the Arbitration Convention
The Commission's recommendation for a Council Decision, inter alia, (i) provides for the necessary changes to Arts. 2(2) and 3(1) of the Arbitration Convention, (ii) sets 1 January 2007 as the date of entry into force of the Arbitration Convention between Bulgaria and Romania and the other Member States, and (iii) introduces the Bulgarian and Romanian language versions of the Arbitration Convention.
Amendments to the Act of Accession
As a result of a simplified system for the accession of Bulgaria and Romania to the conventions concluded by the Member States, these countries may, subject to the adoption of the relevant decision by the Council, accede to the Arbitration Convention by virtue of the 2005 Act of Accession. To that effect, the Commission's proposal for a Council Decision includes a reference to the Arbitration Convention in the 2005 Act of Accession of Bulgaria and Romania to the European Union.