Considering the economic and financial difficulties caused by the spread of the SARS-Cov-2 virus, Law No. 55/2020 concerning measures for preventing and fighting the effects of the COVID-19 pandemic was passed, which includes, in Section 8, a series of regulations… Read moreLegislative amendments in insolvency matters during the state of alert
Two thirds (65%) of the responding companies didn’t have to apply measures to reduce employee costs in the two months of the state of emergency, according to the HR Barometer conducted by PwC Romania in May. Cost-cutting companies have adopted… Read morePwC Romania Survey: 65% of companies didn’t apply measures to reduce employee costs in the first two months of the state of emergency
A typical fraud case lasts 14 months before detection and causes a loss of over $8,000/month, according to the Association of Certified Fraud Examiners (ACFE) 2020 Report to the Nations. When considering today’s financial landscape, where transactions happen under one… Read moreDeloitte Romania and SAS experts: New anti-fraud technology solutions emerge, but companies must ensure cooperation between compliance and anti-fraud departments
FILIP & COMPANY law firm assisted the Ministry of Public Finance, alongside Linklaters law firm, in an issuance of Eurobonds in two tranches that raised EUR 3.3 billion from international markets. The first tranche consists of EUR 1.3 billion 2.750%… Read moreFILIP & COMPANY assisted the Ministry of Public Finance in the issuance of EUR 3.3 billion worth of Eurobonds
The vast majority (82%) of respondents to a survey conducted by PwC Romania have unpaid debts related to the main budgetary obligations due on 31 March and qualify to apply for the tax amnesty regulated by Government Emergency Ordinance no…. Read morePwC Romania survey: 82% of respondents have overdue debts to the state budget and can apply for tax amnesty
1. General overview As a direct consequence of the COVID-19 outbreak and the consequent measures implemented by the Romanian State, the economic growth process has experienced a short to medium term slowdown, impacting the labor market and subsequently household income…. Read moreThe new era of bilaterally negotiated power purchase agreements
Fiscal facilities in the context of COVID-19-related economic difficulties. On Thursday, the 14h of May 2020, Emergency Government Ordinance no. 69/2020 amending and supplementing Law no. 227/2015 regarding the Fiscal Code, as well as instituting new fiscal measures, in the… Read more<strong>RLWeek</strong> May 18-24, 2020: New fiscal and rent payment facilities. New measures regarding safety in economic and cultural activities. Measures for general and workplace prevention and control of COVID-19 effects
The past week has been marked by a flurry of regulations on when and how employees may return to work after the lapse of the state of emergency on 14 March 2020. In such fast-changing legal environment, it becomes increasingly… Read moreReturning to work during the state of alert – what employers need to know
On 18 May 2020, the same date that Romania switched to a state of alert that will expire on 17 June 2020, Law no. 55/2020 entered into force, which contains amendments to legal provisions for regular insolvency during the state… Read moreRomania amends insolvency law with start of state of alert
With the 15 May end of the state of emergency and the switch to a 30-day state of alert, the Romanian government has released a new guidance that attempts to ease the effects of economic restrictions through measures that include… Read moreRomanian government adopts new Trade Registry rules
