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Changing the Fiscal Code

Changing the Fiscal Code: The Ministry of Finances launched in a public debate on Monday, the 19thof March 2012, the EGO draft for completing the Law no. 571/2003 regarding the Fiscal Code. One of the changes concerns the setting of the obligation for marking and coloring the oil and the similar energy products from the point of view of its excise duties, to reduce tax evasion in the area of energy products. * * * The SCM supports the entry into force of the new civil procedure Code on the 1st of June 2012: During the meeting from the 22ndof March 2012, the Plenum of the Superior Council of Magistracy considered the request of the SCM leadership formulating a viewpoint concerning the date of entry into force of the new civil procedure Code. The Plenum of the Superior Council of Magistracy decided with a majority of votes that the entry into force of the new civil procedure Code has to be an objective of all responsible factors, and the postpone of the entry into force extends a transitory atypical and ineffective situation for realizing the reform. * * * It was approved the Law for the ratification of the EU Fiscal Pact: On Tuesday, the 20thof March 2012, the Government approved the draft bill on stability, coordination and governance in the framework of the Monetary Economic Union between the 25 signatory States. The draft bill will be submitted to the Parliament to deliberation and approval. * * * The regulation on the classification of credits: The Official Gazette of Romania, part I, no. 179 dated the 20th of March 2012 published the Regulation of the National Bank of Romania on the classification of the credits and the establishment, the regulation and the use of the specific provisions of risk of credit applicable to supervised entities by the National Bank of Romania, other than the credit institutions. The regulation it is applied for the financial non-banking institutions, for Romanian legal persons and for the branches of the foreign financial institutions of Romania, except for those that fit into the provision of title I, chapter IV the 2ndsection “The financial institutions from the other member States” of the EGO no. 99/2006 regarding the credit institutions and the capital adequacy, registered in the general Register kept by the National Bank of Romania, the payment institutions, the Romanian legal persons, which give credits related to payment services, the institutions issuing electronic money and regulates: the classification of credits given to borrowers; the determination of the of the specific provisions of risk of credit related to classified credits; the establishment, the regulation and the use of the specific provisions of risk of credit. * * * The birthday of the employee, legal holiday: The PDL deputy Marius Rogin initiated a legislative proposal regarding the change of the article no. 139 paragraph 1 of the labor Code. The deputy proposes introducing a new day of legal holiday, the birthday of each employee under employment contract. * * * Changes regarding the operation of the Labor Inspection: The Official Gazette of Romania, part I, no. 182 dated the 21st of March 2012 published the Law no. 51/2012 for changing and completing the Law no. 108/1999 for establishing and organizing of the Labor Inspection. The new normative act brings, mainly, changes regarding the way of financing the institution of the Labor Inspection, completes and redefines the functions and the attributions of the Labor Inspection, establishes which the categories of persons who can occupy the position of labor inspector, establishes new rights for labor inspectors, increases the applicable penalties of the employers which prevent the Labor Inspection controls or which do not meet the measures imposed by the labor inspectors.

Andreea Roxana TUDOROIU

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