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 once the ratification instruments are exchanged and will apply from 1 January of the year following…