Less than four years after the last fiscal amnesty, on 5 August, the Romanian government published a fiscal amnesty ordinance (No. 6/2019) that sets the framework for restructuring the debt of taxpayers with outstanding tax obligations and for the cancellation… Read moreRomania implements tax debt restructuring and cancels tax liabilities
After a lapse of almost ten years, the Romanian government just launched a public tender for the exploration, development and production operations of 22 onshore and six offshore blocks within Romania’s territorial waters of the Black Sea. The blocks vary… Read moreRomanian oil and gas – new licensing round for upstream onshore and offshore
As we previously informed, Law no. 129/2019 which implements the 4th Anti-Money Laundering Directive, Directive (EU) 2015/849, was promulgated by the Romanian President and will come into force three days after being published in the Romanian Official Gazette. Legal entities… Read moreImplementation of 4th AML Directive brings new regulatory hurdles in Romania
On 11 July 2019, the Law for preventing and combating money laundering and terrorist financing (the “Law”), which transposes the 4th Anti-Money Laundering Directive, Directive (EU) 2015/849, was promulgated by the Romanian President. The Law will come into force three… Read more4th Anti-Money Laundering Directive results in amendments to Romanian Companies Law
Following the controversial measures in the energy sector in the wake of Government Emergency Ordinance 114/2018 (“GEO 114”), the Government has recently decided to further reform the sector with the aim of strengthen the security of supply for the household… Read moreUpdates in the Romanian Oil & Gas and Power Sectors
On 20 March 2019, the Romanian Financial Supervisory Authority (the “FSA”) formally clarified its position on the fate of UK entities acting in the non-banking financial services market in Romania in the event of a ‘no-deal’ Brexit. In a nutshell,… Read moreRomania: Financial Supervisory Authority’s position on ‘no-deal’ Brexit
The Romanian energy sector continues to search for stability and predictability due to the passing of Government Emergency Ordinance 114/2018 (“GEO 114”), which introduces several tax and regulatory measures for various major industries – including the energy sector. The main… Read moreFurther changes in the Romanian energy sector
In late 2018, the Romanian Supreme Court issued an unexpected ruling decriminalising the procuring of products with psychoactive effects, by a final consumer, for personal use. In its ruling, the Supreme Court held that the act of procuring products suspected… Read moreSupreme Court decriminalises procuring of products with psychoactive effects for personal use
On 31 January 2019, the Romanian Government enacted Decision No. 34 on the annual quota for the maximum number of non-EU employees admitted to work in Romania, during 2019. Through this decision, the Romanian Government increased the maximum number of… Read moreRomania increases non-EU employees annual quota amid workforce shortage
Chambers Global covers over 190 countries across the world. Law firms and individual lawyers are ranked in bands from 1 (highest) – 6 (lowest) and being ranked in any band is a significant achievement. The qualities on which rankings are… Read moreChambers Global 2019
