On 6 December 2021, the Romanian Senate (upper house of parliament) approved the ratification of the pending protocol to the 1997 income tax treaty with Israel. The protocol, signed 3 November 2020, updates Article 2 (Taxes Covered) and Article 3 (General Definitions) and replaces Article 27 (Exchange of Information) in line with OECD standards for information exchange. It will enter into force…