The tax practice of Deloitte’s member firms, winner at the ITR European Tax Awards
Bucharest, June 23, 2017 – The tax practice of Deloitte’s member firms has won 24 awards at the 2017 European Tax Awards organized by the International Tax Review (ITR) publication, more than any other participating organization in this year’s … Read the rest more…
Deloitte Women on Board Survey: gender diversity on boards doubled in organizations with female leadership
Bucharest, 20 June 2017. The number of women serving on boards almost doubled under a female leadership (29%) globally as compared to when boards were led by a male chair (16%), according to the fifth edition of Deloitte’s Women in … Read the rest more…
Schoenherr advises the association between Iulius Group and Atterbury Europe
The Bucharest office of regional law firm Schoenherr, one of the largest players on the Romanian legal market, has provided legal assistance in the transaction through which IULIUS Group, the developer and operator of IULIUS network of shopping malls, … Read the rest more…
Romanian Legal Week in brief: 12-18 June, 2017
New law regarding CAL – Law no. 132/2017 regarding mandatory civil motor vehicle liability for third party damages by vehicle and tram accidents
On Monday, the 12th of May 2017, Law no. 132/2017 regarding mandatory civil motor vehicle liability … Read the rest more…
Romanian Legal Week in brief: June 5-11, 2017
Revision of Law regarding the National Defense Industry
On Tuesday, the 6th of June 2017, the Ministry of Economy launched in public debate the draft of the Government Decision approving the Methodological Norms for the application of Law no. … Read the rest more…
Reff & Asociates announces new real estate practice head
Reff & Associates, the law firm representing Deloitte Legal in Romania, announces that Irina Dimitriu, associate partner, is taking over the role of head of the real estate practice as Irina Dimitriu joins NEPI as legal director.
In her … Read the rest more…
Romanian Legal Week in brief: 29 May-4 June, 2017
Revision of law regarding national expert relocation to EU institutions and organs
On Monday, the 29th of May 2017, the Ministry of External Affairs launched into public debate the bill for the revision and completion of Law no. 105/2012 … Read the rest more…
Investments in security efforts are driven more by regulatory requirements and not by the actual awareness of the ongoing IT security threats, shows a joint PwC Romania and Microsoft survey
According to a joint PwC Romania and Microsoft Romania survey launched today, “Security in the Digital World”, investments in cybersecurity are mostly driven by regulatory requirements instead of the organizations awareness of the actual and ongoing IT security … Read the rest more…
Romanian Legal Week in brief: 22-26 May, 2017
Repealing the Procedure for the Emergency Utilization of Food Consumables | Draft
On Friday, the 19th of May 2017, the the draft of the order for repealing Order no. 2389/2010 of the Minister of Public Finances for the approval … Read the rest more…
SUCIU POPA is the winner of ENERGY LAW FIRM OF THE YEAR AWARD at the Romanian Energy Awards 2017
SUCIU POPA has won the ENERGY LAW FIRM OF THE YEAR AWARD at the sixth edition of the ROMANIAN ENERGY AWARDS GALA, an elite event organised by The Diplomat – Bucharest, which brought together the Who’s Who in the energy … Read the rest more…
IFRS 17: Deloitte comments on new international accounting standard for insurance contracts
Francesco Nagari, global IFRS insurance leader at Deloitte, said:
“Today’s publication of IFRS 17 marks a once in a lifetime regulatory change in accounting for insurance policies. The new rules aim to bring greater transparency in the financial … Read the rest more…
Successor of family-owned business expects disruption but lacks skills
Over 25% of successors think they will lose market share to new entrants
Bucharest, May 22, 2017 — Of the next generation of leaders of family-owned businesses interviewed by Deloitte, 46% expects that the market in which they operate … Read the rest more…
Romanian Legal Week in brief: 15-21 May, 2017
Unilateral exclusion of certain categories of foreigners from needing an entry visa in Romania
On Friday, the 12th of May 2017, the Ministry of External Affairs launched into public debate a bill for the unilateral exclusion of certain categories … Read the rest more…
A New Edition of Deloitte Technology Fast 50 Competition Kicks Off
Registration will close on July 31, final rankings will be announced in October
Bucharest, 17 May 2016. Deloitte Romania announces the opening of registration for the Technology Fast 50 competition in Central Europe. The preeminent regional competition for companies in … Read the rest more…
Deloitte Romania: learning and career development, high up on the business and HR agenda
Bucharest, May 16, 2017. Driven by the frequent change of the professional competencies required to perform at work, lack of experienced candidates and employee’s desire to develop professionally continuously, learning and career development are the top priorities of the Romanian … Read the rest more…
Romanian Legal Week in brief: May 8-14, 2017
Competition Council. Study regarding the competition in the field of rail passenger transport
On Tuesday, the 9th of May 2017, the Competition Council published a study regarding the competition in the field of rail passenger transport, according to a … Read the rest more…
Encouraging voluntary tax compliance, a solution to increase budget revenues on the short term
Encouraging voluntary tax compliance of the tax payers could be one of the solutions to increase budget revenues for Romania. This is one of the conclusions of the PwC conference – “The change of the taxation paradigm in Romania”, that … Read the rest more…
Economic activity in advanced economies is encouraging, but productivity is lagging
The recent increase in economic activity in the G7[1] advanced economies is attracting the attention of policymakers – particularly those that gathered in Washington DC for the World Bank-IMF Spring meeting.
But is the optimism justified? And more importantly, … Read the rest more…
IONESCU SAVA 2017 Summer Academy open for applications
Ionescu Sava are holding the 7th edition of the Summer Academy, taking place between 20 – 25 August 2017 in Tohani Prahova, at Ferma Dacilor.
They are currently accepting applications to their 2017 Summer Academy (7th edition). The program includes … Read the rest more…
Romanian Legal Week in brief: 1-7 May, 2017
NAFA. Budget revenue collecting
On Tuesday, the 2nd of May 2017, the National Agency for Fiscal Administration declared that the budget revenue collected during April 2017 amounts to 18,03 billion lei, 1,18 billion lei more than during April 2016.… Read the rest more…
SUCIU POPA Assisted a Company of the Maltese Group Hili Ventures in the Acquisition of the Building in Which the Largest Private Hospital in Romania Operates
Subsequent to Hili Ventures taking over, in 2016, through its division Premier Capital, McDonald’s local operations, this year the group made its entrance in the office building area, by acquiring ART Business Centre from FBC Exclusiv Company. Located in the … Read the rest more…
Deloitte opens European Regional Delivery Center in Romania
The European Center will serve as a software hub for clients in Romania and across the world
Bucharest, May 4, 2017. Deloitte has announced today the opening of the European Regional Delivery Center in Bucharest. Operating under Deloitte Tehnologie, the … Read the rest more…
Romanian Legal Week in brief: 24-28 April, 2017
Amendments on the eligibility rules for expenditure under the Internal Security Fund and the Asylum Fund. Draft
On Monday, the 24th of April 2017, the Ministry of Internal Affairs launched in public debate the draft of the Order of … Read the rest more…
Alexandru Reff takes over from Ahmed Hassan as Country Managing Partner for Deloitte Romania
Bucharest, April 27, 2017. Alexandru Reff has been appointed Country Managing Partner Deloitte Romania and Moldova, effective June 1st, 2017. He will succeed Ahmed Hassan, who takes on a regional leadership position.
Alexandru Reff is an attorney at law, founder … Read the rest more…
Romanian Legal Week in brief: April 17-23, 2017
Amendment of the Criminal Code and of the Criminal Procedure Code. Draft
On Wednesday, the 19th of April 2017, the Ministry of Justice has launched in public debate the draft of law for the amendment and completion of the … Read the rest more…
Half of the business executives want that the internal audit function play a more important role in the organizations, says PwC
The 13th annual edition of the State of the Internal Audit Profession study finds that half of the business executives[1] surveyed want that the internal audit function play a more important role in the organizations, because this function … Read the rest more…
Reff & Associates in Legal 500 rankings with six practice areas
The firm preserves its position at the top of the legal profession in practice areas such as real estate, banking and capital markets, M&A, PPP and public procurement
This year’s rankings acknowledge Reff & Associates’ performance in employment law and … Read the rest more…
Romanian Legal Week in brief: April 10-16, 2017
NAFA. Reunion regarding collecting increase measures and voluntary confirmation
On Monday, the 10th of April 2017, the National Authority of Public Finances stated that, at the end of this week, Bogdan-Nicolae Stan, NAFA’s president, is bound to present the … Read the rest more…
Payments in the Online Gambling field in Romania – Class II license for the Payment Services Providers
In Romania, the organization and operation of gambling games is regulated by Government Emergency Ordinance no. 77/2009 (GEO 77/2009) on the organization and exploitation of gambling games and the Government Decision no. 111/2016 approving the Methodological Norms (the … Read the rest more…
Manuela Ciugudean-Toma became the new Marketing and Communication Leader for PwC in South-Eastern Europe
Manuela Ciugudean-Toma joined PwC and will coordinate the marketing teams in 11 countries in South-Eastern Europe. She will be responsible for developing an integrated PwC marketing and communication strategy throughout the Balkans.
“I am happy that Manuela agreed to lead … Read the rest more…
SUCIU POPA assisted ENEL in finalizing the acquisition of 13.6% of E-Distrubuție Muntenia and ENEL Energie Muntenia
Suciu Popa assisted Enel Investment Holding B.V. in finalizing the acquisition of 13.6% of the share capital of E-Distributie Muntenia S.A. and Enel Energie Muntenia S.A., which increased Enel’s interest in the two companies to 78%.
The acquisition of the … Read the rest more…
Romanian Legal Week in brief: April 3-9, 2017
NAFA. Catalogue for services delivered to tax payers
On Friday, the 31st of March 2017, the National Agency for Fiscal Administration announced that the Catalogue for services delivered tax payers was published; this document aids the handling of fiscal … Read the rest more…
SUCIU POPA included once again in the annual GAR 100 listing
The Global Arbitration Review has named Suciu Popa to its prestigious list of the world’s top/leading international arbitration firms
Global Arbitration Review has launched the 10th of its GAR 100 listing and Suciu Popa is delighted that its International Arbitration … Read the rest more…
Romanian Legal Week: March 27 – April 2, 2017
The implementation of the general consolidated budget – January – February 2017
On Monday, the 27th of March 2017, the Ministry of Public Finances reported that the implementation of the general, consolidated budget respective to the first two months … Read the rest more…
Max Planck Lecture Series: The ECtHR and State Responsibility: Moving towards more international law?
Wednesday, 29 March 2017, 16:00
Lecturer: Judge Iulia Motoc (European Court of Human Rights Professor of European and International Law University of Bucharest)
Iulia Motoc is Judge at the European Court of Human Rights since December 2013 and Professor of … Read the rest more…
Romanian Legal Week: March 20 – 26, 2017
Romania will try to relocate the European Medicines Agency at Bucharest
On Wednesday, the 22nd of March 2017, during a Government meeting, a Memorandum was in the talks, according to which Romania will candidate for the relocation of the … Read the rest more…
Romanian Legal Week: March 13 – 19, 2017
European Commission. Romania will participate in the establishment of the European Public Prosecutor’s Office
The European Commission announced that the project for establishing the European Public Prosecutor’s Office was approved during the Council‘s reunion on 9-10 March 2017, … Read the rest more…
Țuca Zbârcea & Asociații Launches a Public Speaking Internship Program Open to Law School Students
Bucharest, March 13th, 2017: The program includes 12 training sessions to take place between March 2017 and February 2018, educating students, in an informal manner, about essential speaking techniques.
The Public Speaking Internship. An informal approach covers topics … Read the rest more…
Bondoc si Asociatii further strengthens its energy, IT&C and commercial practices by co-opting Monica Iancu as Partner
Monica Iancu has over 14 years of practice, focusing on energy, IT&C, as well as corporate/commercial matters.
Lucian Bondoc, Managing Partner of the firm, stated that „Monica is one of the best energy and IT&C/commercial lawyers in the … Read the rest more…
Romanian Legal Week: March 6-12, 2017
Amendments on the measures for reducing the seismic risk of the existing buildings. Draft
On Monday, the 6th of March 2017, The Ministry for Regional development, Public Administration and European Funds has launched in public debate the draft of … Read the rest more…
Romanian Legal Week: February 27 – March 5, 2017
Law regarding the approval of the Emergency Ordinance no. 14/2017
On Friday, the 24th of February 2017, Klaus Iohannis, the President of Romania, signed the following decrees, according to a release by the Presidential Administration:
Decree for the promulgation … Read the rest more…
UN Youth Moot Courts 2017
The UN Youth Moot Courts is an academic simulation of the juridical procedures in front of the international Courts, held in English and organized by the UN Youth Association of Romania. Being one of the most important projects of the … Read the rest more…
Romanian Legal Week: February 6-12, 2017
Foundation of Consultative Committee in the Field of International Cooperation for development and humanitarian assistance. Draft
Wednesday, on 8th of February 2017, the Ministry of Foreign Affairs has launched in public debate the draft of Decision for the Foundation … Read the rest more…
Deloitte Millennials Survey: In Search for Stability and Full Time Employment
Millennials are more interested in the security of their jobs, more concerned about uncertainty arising from conflict and less optimistic about the directions their countries are going, according to Deloitte’s sixth annual Millennial Survey. The study indicates that the … Read the rest more…
Constitutional Court of Romania: law on CHF loan conversion is unconstitutional
Yesterday, 7th of February, the bill of law on conversion of CHF loans was declared unconstitutional by the Constitutional Court of Romania.
The bill of law was approved by the Chamber of Deputies on 18th of October 2016 but, on … Read the rest more…
Romanian Legal Week: January 23-29, 2017
The National Agency for Fiscal Administration (NAFA) modifies forms regarding Social Insurance Contributions for natural persons
On Friday, the 20th of January 2017, the NAFA modified the forms for the ex officio appointment of Social Insurance Contributions for natural … Read the rest more…
The Romanian Judges’ Forum Association ref. the projects of Emergency Government Ordinances concerning the collective pardon and the amendments of the Criminal Code and the Procedural Criminal Code
Observations regarding the projects of Emergency Government Ordinances concerning the collective pardon and the amendments of the Criminal Code and the Procedural Criminal Code. Measures with high risk of reducing the institutional capability to fight against corruption and general criminality … Read the rest more…
Radu și Asociații SPRL | EY Law, the Romanian legal adviser of Vector Watch in a complex cross-border M&A transaction
Fitbit has acquired the assets of the European luxury smartwatch brand, Vector Watch, in a transaction which represents yet another high-profile deal involving Romanian-based technology and a USA Silicon Valley-based acquirer in which serial entrepreneur and investor, Radu Georgescu, and … Read the rest more…
SCHOENHERR Tax Bucharest launches transfer pricing practice
In a BEPS environment where profit transfer between affiliated companies, between or within jurisdictions, is increasingly monitored, on national as well as international levels, our decision to expand our range with transfer pricing advisory services comes naturally. This move meets … Read the rest more…
Romanian Legal Week: November 28 – December 4, 2016
International Volunteer Day for Economic and Social Development 2016
The International Volunteer Day for Economic and Social Development 2016 was mandated by the United Nations General Assembly and is held on a yearly basis on December 5. The purpose of … Read the rest more…
Romanian Legal Week: November 21-27, 2016
Rules for managing emergency situation | Draft
The Interior Ministry has launched for public debate the Order for approving the framework-structure of the regulation for managing emergencies.
:: Draft
:: Approval report
Amendment of the procedure authorizing certain bodies to … Read the rest more…
BONDOC & ASOCIATII by the Side of Mid Europa Partners in Profi’s Acquisition, the Largest Transaction Ever Concluded by a Private Equity Company in Romania and the Largest Retail Deal
According to a press release, Mid Europa Partners, the leading private equity company acting in Central and South-East Europe, has announced today that it has signed an agreement for the acquisition from Polish Enterprise Fund VI of 100% of the … Read the rest more…
PwC lists the top 30 Emerging Market Software companies
With globalisation, successful software companies are no longer limited to the US and Europe. They’re everywhere around the globe.
PwC, in conjunction with International Data Corp., has ranked the top 30 software companies in emerging markets and identified some … Read the rest more…
Romanian Legal Week: November 14-18, 2016
EUROSTAT. Statistics in the matter of work
Monday, on 14th of November 2016, EUROSTAT has given to the public statistics regarding labour in Europe.
In Romania, it has risen the average period of professional activity in the last decade … Read the rest more…
Lawyr.it launches new Open Call for articles
Lawyr.it, the student-powered legal publication focused on Central Eastern Europe, is inviting law students from across Europe to submit creative and innovative articles by December 16, at editors@lawyr.it.
If you are presently enrolled in a university (irrespective of … Read the rest more…
New managing associates in the consultancy department of Maravela & Asociaţii
This November, Maravela & Asociații’s leadership structure has been broaden through the promotion of Mihai Buciuman and Daniel Vinerean as managing associates.
Mihai Buciuman has over 7 years of legal pratice, previously being part of the consultancy teams of … Read the rest more…
Reff & Associates Banking & Securities Practice Brings Senior Advisor on Board
REFF & ASSOCIATES, the law firm representing the international network of law firms Deloitte Legal in Romania, is pleased to welcome to its banking and securities team experienced attorney Alina Tihan as Senior Managing Associate.
An attorney with 17 … Read the rest more…
Radu și Asociatii SPRL | EY Law advising the American group PPG in relation to the acquisition of Deutek, producer of lacquers and paints
Radu și Asociatii SPRL | EY Law assists one of the global leaders in the field of industrial products in relation to its first acquisition on the Romanian market.
After a period of assessing the Romanian market, PPG Industries (an … Read the rest more…
Amendments to Romanian legislation on building permits, urban planning and Real Estate registers
The Romanian Law no. 50 of July 29, 1991 on building permits (“Building Permits Law”) as well as Law no. 350 of July 6, 2001 on regional planning (“Planning Law”) have been amended by Law no. … Read the rest more…
Romanian Legal Week: October 31 – November 6, 2016
Dacian Cosmin Dragoș, the new president of the National Council on Ethics in Scientific Research
The Ministry of Education and Scientific Research published on 02.11.2016 the Order of the Minister of Education and Scientific Research regarding the approval of the … Read the rest more…
Deloitte Romania Promotes Eight New Directors As Practice Grows
As Deloitte’s Romania practice has continued to grow, the firm has promoted eight new directors covering all service lines: tax, audit, risk advisory, management consulting and financial advisory.
“I am delighted to announce the promotion of such a talented group … Read the rest more…
Rise of the robots – good news or bad for business and society?
In 2005 there were less than one million of them. Today there are 1.8 million. And in three years’ time, this will soar to around 2.6 million. Industrial robots are on the march.
Technology already plays a major role in … Read the rest more…
Romanian Legal Week: 24-30 October, 2016
The National Health Programs for the years 2015-2016 | Draft
The Ministry of Health launched for public debate, on 20 October 2016, the draft of the Government Decision for amending and supplementing G. D. no. 206/2015 on the approval of … Read the rest more…
Affidea Buys Hiperdia Diagnostic Centers
Affidea group, a leading provider of medical imaging and cancer treatment services in Europe, has signed a binding contract for the acquisition of diagnostic centers of Hiperdia (assisted by BONDOC & ASOCIATII) , an important provider of medical … Read the rest more…
CE banks driving for efficiency. Romania’s banking sector is able to support a growing economy
Despite some one-off measures, 2015 was probably the best year for the CE banking sector since the global financial crisis of 2009, according to Banking Outlook report from Deloitte Central Europe. Taking a sector-wide perspective, this was the first year … Read the rest more…
Maravela & Asociaţii supports HOSPICE Casa Speranţei
Starting with this year, Maravela & Asociații acts as honorary patron of HOSPICE Casa Speranței’s Adunații Copăceni socio-medical project.
The nongovernmental charity organization HOSPICE Casa Speranței was established in Braşov, in 1992, at the initiative of the British Graham Perolls, … Read the rest more…
Law on taxation of activities in the HoReCa industry is adopted
To whom do the law’s provisions apply?
The provisions of Law no. 170/2016 apply to Romanian legal entities that perform activities corresponding to the following CAEN codes:
5510 – “Hotels and other similar accommodation “
5520 – “Accommodation facilities for … Read the rest more…
Book launch: Arbitration in Romania 27 October 2016, Embassy of Romania in Paris
Arbitration in Romania: A Practitioner’s Guide provides an overview of the Romanian arbitration law and practice and is the first detailed presentation in English of the current legal framework applicable to arbitration and other alternative dispute resolution methods … Read the rest more…
Romanian Legal Week: October 17-23, 2016
HCCJ. Referral in the interest of the law admitted ref. determination of the substantive jurisdiction of the courts / Special Sections
By Decision no. 18/2016, HCCJ admitted the referral in the interest of the law brought by the College Board … Read the rest more…
White & Case, BONDOC & ASOCIATII, and CMS Advise on Greenbrier-Astra Rail Joint Venture
White & Case (working with BONDOC & ASOCIATII in Bucharest) and CMS have advised US-listed The Greenbrier Companies, Inc. and Romania-based Astra Rail Management GmbH, respectively, on a joint venture entered into by the two.
According to a White & … Read the rest more…
Flat Taxes for Romania’s Hotel, Bar and Restaurant Trade
Romania’s Parliament has enacted (not without much debate) Law no. 170/2016 on activity specific taxes, cracking down on Horeca tax evasion by imposing a new flat tax on bar, restaurant, catering and hotel activities. Starting January 1, 2017, such businesses … Read the rest more…
Romanian Legal Week: October 10-16, 2016
Romanian Ombudsman proceeded ex officio in case of the refusal of hospitalization for an obese patient
On Monday, 10 October 2016, Romanian Ombudsman proceeded ex officio and inquired into the refusal of hospitalization of an obese patient by the doctors … Read the rest more…
PwC wins ‘Audit Innovation of the Year’ at 2016 International Accounting Bulletin Awards
PwC’s revolutionary data-auditing tool, Halo, has been awarded the prestigious International Accounting Bulletin’s ‘Audit Innovation of the Year’.
The award recognises organisations that, with a new initiative or innovation in audit, have made a major change in improving audit … Read the rest more…
Accepting an employee to work while the individual employment agreement is suspended represents a civil offense, the High Court of Cassation and Justice ruled
In the future, if following inspections the Territorial Labour Inspectorates state that up to 5 employees are performing work although their individual employment agreements are suspended, they could sanction the employer with a fine ranging from RON 10,000 to RON … Read the rest more…
Romanian Legal Week: September 26 – October 1, 2016
The Competition Council has authorized the acquisition of 78 pharmacies by Sensiblu
On September 27, 2016, the Competition Council authorized the transaction through which 78 pharmacies belonging to Sibpharmamed SRL, member of the Polisano group, were acquired by Sensiblu SRL, … Read the rest more…
Bill granting National Authority for Consumer Protection similar sanctioning powers to those of the Competition Council
A bill for amending the National Authority for Consumer Protection’s statute is currently pending before the standing committees of the Senate (hereinafter referred to as the “Bill”). In June 2016, the bill was adopted by the Chamber of Deputies and … Read the rest more…
BONDOC SI ASOCIATII has expanded its team
BONDOC SI ASOCIATII has expanded its team by adding 7 more lawyers who will strengthen the law firm’s M&A, Real Estate and Litigation practices, as follows: Bogdan Bunrau, Managing Counsel, Adelina Cheptanariu, Associate,
Andreea Secu, Associate, Razvan Agarici, Junior Associate, … Read the rest more…
The Chamber of Deputies had formally approved on September 20, 2016 the Law for tax on specific activities
The Law regarding the tax on specific activities (such as: activities performed in the area of hotels, restaurants or bars) also known as the “HoReCa” Law, after being sent back for re-examination and subject of several amendments, was adopted in … Read the rest more…
Romanian Legal Week: September 19-25, 2016
Government emergency ordinance regarding the civil auto insurance for the damages caused to the third parties through cars and trams crashes
In the Official Journal of Romania Part one, no. 723 from 19th of September has been published the … Read the rest more…
Romanian Legal Week: September 12-18, 2016
CCR. Unsolved civil action in case of cease of criminal law suit as a result of the prescription of criminal liability
Tuesday, 13th September 2016, Constitutional Court Plenum debated the constitutional challenge of the disposals of Article 25 Paragraph 5 … Read the rest more…
New regulations on fire safety and civil protection authorizations applicable starting from 1 September 2016
The Order of the Ministry of Internal Affairs (“MIA”) no. 129/2016 approving the Methodological Norms on fire safety and civil protection authorization procedures (“Order no. 129/2016”) entered into force upon its publication in the Official Gazette of Romania no. 675, … Read the rest more…
Romanian Legal Week: August 29 – September 4, 2016
Amendment of normative acts on foreigners
In the Official Gazette of Romania, Part I, no. 670 of 31 August 2016 was published the Government Ordinance no. 25/2016 amending and supplementing certain enactments on foreigners.
The new ordinance amends Government Ordinance … Read the rest more…
Deloitte Romania’s Corporate Finance Team Combines with Filipescu Visa to Strengthen Practice
In an extremely dynamic business environment, Deloitte Romania has further invested in its growing Financial Advisory practice by combining its Corporate Finance team with well-known financial advisors and one of the most experienced independent consultancy companies FILIPESCU VIȘA. The … Read the rest more…
Romanian Legal Week: 22-28 August, 2016
The completion of the Law on the Tax Code
The Ministry of Public Finance has launched in public debate on Tuesday, 23rd August 2016, the draft of the Emergency Ordinance on the completion of Law no. 227/2015 regarding the … Read the rest more…
Implementation of Common Reporting Standards (CRS)
On 24 August 2016, the Ministry of Public Finance published the Order for implementing and applying procedures of the CRS.
The new legislative act provides the actions/procedures for meeting the obligations provided by the Romanian Fiscal Procedure Code (article 62, … Read the rest more…
Romanian Legal Week: August 15-21, 2016
HCCJ. What must be proved in case of a penalties clause that is part of a share sale and purchase agreement
The High Court of Cassation and Justice has ruled that the court of appeal correctly stated that the penalties … Read the rest more…
Significant changes brought to Law no. 10/1995 on construction quality
Law no. 163/2016 for amending and supplementing Law no. 10/1995 on construction quality (“Law 163/2016” or “Amending Law”) was published in the Official Gazette no. 561 dated 25 July 2016 and will enter into force on 24th of August 2016. … Read the rest more…
Romanian Legal Week: August 8-14, 2016
The Government issued the methodological requirements concerning the adoption law
The Government approved on 10.08.2016, during its session, the methodological requirements concerning the adoption law. The latter was previously modified and amended at the beginning of the year. The new … Read the rest more…
Submission deadline changed for form 394
Starting with the reporting period for July 2016, the legal deadline for submitting form 394 (the local sales and purchases list) is changed to the 30th of the month following the reporting period.
If the reporting period is the calendar … Read the rest more…
Deloitte Grows Digital Practice in Romania
In a move to offer solutions to meet ever changing needs of the market, Deloitte Romania is expanding its consulting practice by further focusing on Digital Transformation. Experienced consultant Cosmin Costea of Costeaconsulting.com with a strong background in digital business … Read the rest more…
Romanian Legal Week: August 1-7, 2016
European funds for SMEs in agriculture
The European Investment Bank (EIB) has provided on 29 July 2016, a loan of 15 million euro to the company Agricover Credit IFN for the purpose of financing small projects implemented by SMEs in … Read the rest more…
CMS: Enactment of offshore regulations in Romania
On 28 July 2016, the “Law on the Safety of Offshore Oil Operations” (the “Offshore Law”) was published in the Official Gazette. The Law establishes the minimum requirements necessary to prevent major offshore related accidents and limit their … Read the rest more…
CMS: Romanian Energy law amendments affect electricity trading
On 28 June 2016, the Romanian Parliament adopted the “Law Amending and Supplementing the Romanian Energy and Natural Gas Law” (the “Law”). The Law modifies the legislative framework for electricity trading on the Romanian energy market.
Despite the … Read the rest more…
Starting 1 August 2016, the reduced 9% VAT rate is applicable for specific goods /services used in the agricultural industry
Under Order 1155/ 868/2016, the reduced 9% VAT rate applies for the following categories of goods:
– Fertilizers;
– Pesticides;
– Seeds and other agricultural products for seeding or planting.
The Order specifically includes the NC codes for each of … Read the rest more…
Romanian Legal Week: July 25-31, 2016
The completion of the Regulations regarding the fees for the services of notaries public| Draft
The Ministry of Justice has launched in public debate Thursday, on 28th of July 2016, the Draft of the Order of the Minister … Read the rest more…
APS acquire €1,3 billion NPL portfolios in Romania assisted by ȚUCA ZBÂRCEA & ASOCIAȚII
ȚUCA ZBÂRCEA & ASOCIAȚII assisted APS Holding a. s. (APS) to achieve the successful completion of the acquisition of two portfolios of non-performing loans (NPL) with the nominal value of €1.33 billion in Romania. The team of lawyers at ȚUCA … Read the rest more…
Deloitte, REFF & ASSOCIATES Assess Competiveness of Food Processing, Construction Industries
Deloitte Romania together with REFF & ASSOCIATES, the law firm representing the international network of law firms Deloitte Legal in Romania have conducted a report assessing the competiveness of the food processing and construction industries, two sectors that have … Read the rest more…
BONDOC & ASOCIATII assisted Mid Europa Partners on the Romanian law aspects pertaining to their acquisition of the full control over Waberer, one of the largest road freight transport operators in Europe
BONDOC & ASOCIATII assisted Mid Europa Partners, the leading private equity firm focused on Central and South Eastern Europe, in acquiring full control of the leading CEE road freight transport company Waberer’s International Nyrt (“Waberer’s”or the”Company”), by acquiring the shares … Read the rest more…
CMS: Romanian FSA withdraws Carpatica Asig SA’s licence and commences bankruptcy procedures
On 27 July 2016, the Board of the Romanian Financial Supervisory Authority (“FSA”) analysed the status of the Romanian insurance undertaking Carpatica Asig SA, considering several audit and assessment reports. The outcome of the FSA analysis was the … Read the rest more…
CMS: Romanian Competition Council Adopts Guidelines on Anti-Competitive Practices in Public Tenders
The Romanian Competition Council (the “RCC”) recently published new guidelines on detecting and preventing anti-competitive practices in public procurement procedures (the “Guidelines”). The issuance of the Guidelines is further evidence of the RCC’s focus on anticompetitive … Read the rest more…
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