CMS Romania is pleased to announce that Andrei Tercu has been promoted to Tax Director as of January 2021. Andrei joined the CMS team 5 years ago and has 13 years’ professional experience in the tax field, previously working with… Read moreCMS Romania promotes Andrei Tercu to Tax Director
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
International law firm CMS has advised National Bank of Greece (NBG) on the disposal of a Romanian-risk corporate non-performing and sub-performing loan (NPE) portfolio with a total gross book value of c. €174 million (€102 million of allocated collateral value)… Read moreCMS advises National Bank of Greece on the sale of a large NPL portfolio to Bain Capital Credit
On 21 December 2020, Law no. 296/2020 for the amendment and completion of the Tax Code was published in the Official Gazette, which includes the following main measures: Definitions and general provisions The definitions of “effective place of management”, “resident”,… Read moreRomania amends Tax Code for 2021
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
The Romanian government has adopted two pieces of secondary legislation further to Romanian law 362/2018 (NIS Law): • Government Decision no. 963/2020 for the approval of the List of essential services (GD 963/2020), which has been in force since 16… Read moreRomania adopts secondary NIS-related legislation
On 4 December 2020, the Romanian National Authority for Administration and Regulation in Communications (ANCOM) launched its 2021 action plan for public debate, which will feature the launch of the 5G spectrum auction. ANCOM states that the auction will take… Read moreRomania to launch 5G auction in Q2 of 2021
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
On 19 November 2020, Romania enacted Government Emergency Ordinance no. 196/2020 amending Law 95/2006 on the healthcare reform, which introduces a general legal framework for the practice of telemedicine applicable to anyone in Romania seeking remote medical services. According to… Read moreRomania permanently regulates telemedicine
Romania has introduced two amendments to its Fiscal Code with the passage of Law no. 239/2020, which was published on 6 November 2020 and entered into force on 9 November 2020, and Law no. 248/2020, which was published on 13… Read moreRomania brings new amendments to the Fiscal Code
