Romania introduces new balancing rules for the electricity market

On 1 September 2020, Romania enacted ANRE Order 61/2020 (Order 61), which approves three regulations – the Regulation on the scheduling of dispatchable production units, dispatchable consumers and dispatchable storage facilities; the Regulation on the operation and settlement of the… Read moreRomania introduces new balancing rules for the electricity market

Romania amends Fiscal Procedure Code and its high court rules on statute of limitation

On 18 December 2020, the Romanian President promulgated an amendment on the law on fiscal procedures and in the Official Gazette it was published a High Court of Cassation and Justice ruling on the five-year statute of limitations for corporate… Read moreRomania amends Fiscal Procedure Code and its high court rules on statute of limitation

CEE businesses keen on ‘green’ Belt & Road Initiative opportunities, CMS survey finds

­­­­CEE businesses are increasingly interested in environmentally-friendly and sustainable sectors as areas for future Belt & Road Initiative (BRI) investments, while traditional trade-related sectors such as transportation and logistics remain popular. According to a survey commissioned by international law firm… Read moreCEE businesses keen on ‘green’ Belt & Road Initiative opportunities, CMS survey finds

Landmark ECJ ruling on a Romanian case involving deduction of VAT on abandoned investments

On 12 November, the ECJ issued its decision in case C-734/19 ITH Comercial Timisoara SRL (ITH) involving the input VAT recovery for goods and services no longer used by the taxpayer (i.e. pertaining to abandoned real-estate projects). The Court ruled… Read moreLandmark ECJ ruling on a Romanian case involving deduction of VAT on abandoned investments