Amendments in the field of insolvency in the pandemic context

1. General aspects The primary legislation governing insolvency and restructuring proceedings is Law 85/2014 on preventing insolvency and insolvency proceedings[1] (the ”Insolvency Law”). The Insolvency Law has been amended on October 2, 2018 by Government Emergency Ordinance no. 88/2018 for… Read moreAmendments in the field of insolvency in the pandemic context

RLWeek August 3-9, 2020: Law regarding public pension system amended. Provisions regarding subsidies for Romanian associations and foundations with legal personality amended. National electronic registry of workforce in Romania. Ministry of Internal Affairs’ driver’s permit procedure amended.

Law regarding public pension system amended. On Monday, the 3rd of August 2020, Law no. 163/2020 amending art. 65 (5) of Law no. 263/2010 regarding the unitary public pension system was published in the Official Journal of Romania, part I. … Read more<strong>RLWeek</strong> August 3-9, 2020: Law regarding public pension system amended. Provisions regarding subsidies for Romanian associations and foundations with legal personality amended. National electronic registry of workforce in Romania. Ministry of Internal Affairs’ driver’s permit procedure amended.

Taxing digital presence: do we need a digital services permanent establishment in the OECD model?

As part of BEPS Action 1 concerning the digital economy, the OECD identified two major trouble areas: (i) deciding which state should be able to tax, and (ii) developing allocation mechanisms[i]. Although Action 1 has not led to amendments to… Read moreTaxing digital presence: do we need a digital services permanent establishment in the OECD model?

Deloitte Romania advised the construction materials local leader, TeraPlast Group, in the sale of its steel division to the Irish group Kingspan

Deloitte Romania advised TeraPlast Group, the largest Romanian producer of construction materials, in the sale of its steel division to the Irish group Kingspan, global leader in insulation and building envelope solutions, which was already present on the Romanian market…. Read moreDeloitte Romania advised the construction materials local leader, TeraPlast Group, in the sale of its steel division to the Irish group Kingspan

Application of VAT exemption with deduction right for certain VAT exempted transactions

In the context of the adoption at EU level of the package containing the so-called “quick fixes” and in order to clarify certain aspects which raised questions among the business community, Order 2148/2020 issued by the Minister of Public Finances… Read moreApplication of VAT exemption with deduction right for certain VAT exempted transactions