Romanian government introduces new measures in response to COVID-19

On 26 October 2020, Romania put into place Government Emergency Ordinance no. 181/2020 (“GEO 181/2020”) approving additional tax measures and deadlines extensions to support business during the recovery period. Specifically, the new measures include the following: Extension of the deadline… Read moreRomanian government introduces new measures in response to COVID-19

COVID-19: Romanian authorities implemented the state aid scheme for financing large enterprises

Following the European Commission approval decision (more information here), the state aid scheme valued at RON 4 billion (EUR 800 million) for the financing of large enterprises and small and medium-sized enterprises (SMEs) with a 2019 turnover of more than RON… Read moreCOVID-19: Romanian authorities implemented the state aid scheme for financing large enterprises

Romanian government clarifies two-year restrictions on selling participations in Romanian companies

On 16 August, Law no. 173 entered into force, prohibiting any sale of participations held by the Romanian state in national companies, banks, or other companies in which the state is a shareholder, irrespective of the ownership percentage, for the… Read moreRomanian government clarifies two-year restrictions on selling participations in Romanian companies

COVID-19: State aid scheme for financing large enterprises is to become operational in Romania

The European Commission has approved a Romania state aid scheme valued at RON 4 billion (EUR 800 million) for the financing of large enterprises and small and medium-sized enterprises (SMEs) with a 2019 turnover of more than RON 20 million… Read moreCOVID-19: State aid scheme for financing large enterprises is to become operational in Romania

Romania passes new tax incentives to bolster business

On 4 September 2020, Romania enacted Government Emergency Ordinance no. 153/2020 (GEO 153/2020), which introduces progressive bonifications for companies improving their equity position. GEO 153/2020 also includes new provisions regarding the calculation of annual corporate income tax (CIT) vis-à-vis government-granted… Read moreRomania passes new tax incentives to bolster business