The new legislative framework on public procurement and concession of works and services was published in the Official Gazette

The legislative framework, which repeals Government Emergency Ordonnance no. 34/2006, is comprised of the following laws: – Law no. 98/2016 on public procurement; – Law no. 99/2016 on procurement in the water, energy, transport and postal services sectors (sectorial procurement);… Read the rest more…

CMS: Implications of Romania’s new public procurement package on the energy sector

As previously reported, on 10 May 2016, the Romanian Parliament adopted a public procurement legislative package intended to transpose EU public procurement directives. The most important change in the legislative package is the exclusion of oil and gas exploration … Read the rest more…

Next generation of family business leaders ambitious to drive change but struggle with getting their voices heard

• Only 41% of next gens believe that their firm has a strategy fit for the digital world • 88% of next gens want to leave their stamp and do something special with the business • 70% of next gens … Read the rest more…

Romanian Legal Week: May 16-22, 2016

The establishment of the National Agency for Protected Natural Areas Law no. 95/2006 establishing the National Agency for Protected Natural Areas and amending the Emergency Ordinance no. 57/2007 concerning the regime of protected natural areas, conservation of natural habitats, wild … Read the rest more…

CMS: Romania, New Double Tax Treaties

On 18 March 2016, Romania ratified four double tax treaties (“DTT”) with Italy, United Arab Emirates, Norway and Bulgaria, which as of May 2016 have all been ratified by the corresponding country. The DTTs provide the following withholding tax relief:… Read the rest more…

CMS: Romanian Ministry of Energy publishes draft law on minimum crude oil reserves

On 28 April 2016, the Ministry of Energy published the Draft Law on the establishment and maintenance of a minimum level of crude oil and petroleum product reserves (“Draft Law”). The Draft Law is necessary to replace current … Read the rest more…

Romanian Legal Week: May 9-15, 2016

Amending and supplementing Regulation no. 17/2012 of the National Bank of Romania on certain credit conditions | Draft The National Bank of Romania launched for public debate, on Wednesday, 11 May, 2016, the draft of the Regulation for amending and … Read the rest more…

Deloitte Legal Dbrief. Drafting Intercompany Agreements on Intangibles in the BEPS Environment: From a Legal Perspective

REFF & ASSOCIATES, the law firm representing Deloitte Legal in Romania, is delighted to invite you Thursday, 19 May, 12:00 – 1:00 PM CEST to participate in the next Dbrief, focused on Drafting Intercompany Agreements on Intangibles in the … Read the rest more…

CMS: Romanian Courts decide on land access in favour of petroleum companies

For the last few years, Romanian landowners have unjustly prevented titleholders from conducting petroleum operations on blocks and land, claiming that the easement rights granted to titleholders under the Petroleum Law represent expropriation. The landowners’ denial of access has mostly … Read the rest more…

Employers will no longer have the possibility to suspend the individual employment contracts during the disciplinary investigation of employees

On 05.05.2016, the Constitutional Court ruled that art. 52 Para (1) letter a) of Law no. 53/2003 on the Labor Code (”Labor Code”), which regulates the employer’s right to suspend the individual employment agreement during the prior disciplinary investigation is … Read the rest more…

CMS: The Debt Discharge Law

A law which has proved controversial and been heavily criticised by the banking community in Romania as well as by the National Bank of Romania and European Central Bank, was published in the Romanian Official Gazette on 28 April 2016 … Read the rest more…

Romanian Legal Week: May 2-8, 2016

Commissioning pay back law published in the Official Journal In the Official Journal of Romania, part I, no. 330 from 28th April 2016 has been published Law no. 77/2016 regarding the commissioning pay back of some immovable assets in … Read the rest more…

Deloitte Legal Dbrief. Cross-Border Relocation of Companies within the EU: A Chance for Your Company? – Opportunities, Challenges and Potential Pitfalls

REFF & ASSOCIATES, the law firm representing Deloitte Legal in Romania, is delighted to invite you Wednesday, 11 May, 12:00 – 1:00 PM CEST to participate in the next Dbrief, focused on Cross-Border Relocation of Companies within the EU: … Read the rest more…

Romanian Legal Week: April 25 – May 1, 2016

HCCJ. The existence of the moral damage The High Court of Cassation and Justice has decided that, when determining the existence of the moral damage, it must be taken into consideration the character and the importance of the non-pecuniary prejudiced … Read the rest more…

New EU Data Protection Regulation has been approved

On 14 April 2016 the European Parliament approved the new General Data Protection Regulation. It replaces the current data protection directive, i.e. Directive 95/46/EC on the protection of individuals with regard to the processing of personal data and on … Read the rest more…

NOERR advised Nidec to acquire ANA IMEP S.A. from George Copos

The law firm NOERR advised Nidec Corporation (NYSE: NJ, “Nidec”) on the acquisition of approximately 94.8% of the shares of ANA IMEP S.A. (“IMEP”), a company owned by George Copos and having as main business activity the development, manufacturing and … Read the rest more…

Romanian Legal Week: April 18-24, 2016

The Superior Council of Magistracy. Notice regarding the renewal of Laura Andrei’s investiture with the function of Romania’s representative at the Joint Supervisory Authority of Eurojust The Plenum of the Superior Council of Magistracy gave its advisory notice regarding the … Read the rest more…

SCHOENHERR named Leading Law Firm in Austria and Romania by Chambers

SCHOENHERR has been recognized as “Austrian Law Firm of the Year” (2016) and “Romanian Law Firm of the Year” (2016) by the renowned legal publisher Chambers and Partners. For the first time, SCHOENHERR has been awarded with … Read the rest more…

CLIFFORD CHANCE appoints 24 new partners. Promotion round includes Bucharest partner, Ioana Țălnaru, specialized in Corporate M&A, Private Equity and Energy

Leading international law firm CLIFFORD CHANCE has today announced the promotion of 24 lawyers to its partnership, including Bucharest-based lawyer Ioana Țălnaru. With over 14 years of experience and a solid portfolio in the field, Ioana Țălnaru specializes in Corporate … Read the rest more…

BONDOC & ASOCIATII assisted E-Mag in relation to the acquisition of PC Garage

BONDOC ȘI ASOCIAȚII is one of the most active law firms in the market, including in the M&A area, assisting E-Mag, among others, in several transactions. In the recent time period, it has been working in some of the largest … Read the rest more…

CLIFFORD CHANCE BADEA: The new Covered Bonds Law – a financing alternative for credit institutions in Romania

Covered bonds bring several benefits for both issuers and investors – the possibility of obtaining high credit rankings and ensuring access to a large pool of potential investors (from the issuers’ point of view), more accessible investment thresholds, favourable regulatory … Read the rest more…

Romanian Legal Week: April 11-17, 2016

The Competition Council has authorized the takeover of Credit Europe Insurance Reinsurance by Ergo Austria International AG The Competition Council has authorized the merger through which Ergo Austria International AG takes over Credit Europe Insurance Reinsurance SA, according to a … Read the rest more…

The total number of cars in circulation in Romania increased by 21% after 2008, however most of the increase came from second-hand cars

• More than half of the national auto fleet is made up by cars older than 10 years; • The average age of the national auto fleet reached 12,9 years, 4,6 years older than the EU average; • The share … Read the rest more…

CLIFFORD CHANCE: Competition, a globalized theme amid increased complexity and internalization of antitrust enforcement

Competition investigations are getting ever more complex and interconnected, as more and more jurisdictions consolidate their regulatory framework, and related authorities work closer together at international level. As a result, companies see greater risks and regulatory requirements. The most recent … Read the rest more…

Legal 500: ȚUCA ZBÂRCEA & ASOCIAȚII has been recommended as a Top-Tier Firm in 10 practice areas

The Legal 500 EMEA edition has been recently released in London, providing researched coverage of 81 countries and over 2,700 ranked law firms. The following practice areas were covered in the editorial for Romania: Banking, finance and capital markets; Commercial, … Read the rest more…

WOLF THEISS has new partner for competition law

WOLF THEISS recruits new Partner Adrian Șter in 2016. This year, the local office of Austrian law firm WOLF THEISS expands its competition and state aid practice by adding new Partner Adrian Șter to its team. Adrian Șter graduated from … Read the rest more…

Deloitte: Romania dominates the NPLs market in the CEE

With loan portfolio sales increasingly recognised as an effective method of deleveraging, this continues to be a crucial element in banks’ strategies. In this context, the non-performing loans market (“NPLs”) in the region has gained momentum in 2015 and Romania … Read the rest more…

Ursus Breweries Receives Green Frog Award 2015 Distinction in the CEE competition | Czech-based Plzeňský Prazdroj Wins Competition

Deloitte Romania announces that Ursus Breweries has received a distinction in the 2015 Deloitte Central European Sustainability Report Award known as the Green Frog Award (GFA). The Ursus Report was distinguished among the best reports in the region out of … Read the rest more…

CMS: Romania – New rules for the assessment of shareholders and investors in non-banking markets

The Romanian Financial Supervisory Authority (“FSA”) recently adopted a new regulation addressing the criteria and procedure for the FSA’s assessment of acquisitions and shareholding increases in entities regulated by the FSA (the “Regulation”). The Regulation addresses … Read the rest more…

ONV LAW introduces new Managing Associate role

ONV LAW promotes 3 to newly created Managing Associate role, covering all 3 legal departments of the firm. ONV LAW introduced the new role with the appointment of Sînziana Bărbieru, Cătălina Lazăr and Magda Barbu-Preda as Managing Associates. “I would … Read the rest more…

CMS: Romania – First steps to national and European transportation interconnectivity

In order to simplify and accelerate the implementation of infrastructure projects included in the 2014-2020 Large Infrastructure Operational Programme approved by the European Commission, the Romanian Government recently adopted an emergency ordinance for projects related to the construction of roads, … Read the rest more…

Romanian Legal Week: April 4-10, 2016

NAFA increases the minimum debt amount to the budget that will be published The National Agency for Fiscal Administration increased the minimum amount of debt the budget that will be published on the institution’s website at the end of this … Read the rest more…

BONDOC & ASOCIATII Expands Its Team with Three More Lawyers

BONDOC ȘI ASOCIATII expands its team with other three lawyers, Oana Coanda, Alexandru Multescu and Diana Savu, to support mainly the activities of the Life Sciences, Compliance, Dispute Resolution and IT&C/Data Privacy practices.… Read the rest more…

Deloitte Legal Dbrief. Workforce-on-Demand: A New Era for Employment?

REFF & ASSOCIATES, the law firm representing Deloitte Legal in Romania, is delighted to invite you Tuesday, 12 April, 12:00 – 1:00 PM CET (Rescheduled from 16 March) to participate in the next Dbrief, focused on Workforce-on-Demand: A … Read the rest more…

CMS: Romania to speed up enforcement of DAB decisions related to trans-European transport infrastructure projects

On 18 March 2016, the Romanian government published Governmental Emergency Ordinance No. 7/2016 (“GEO 7”) in the Romanian Official Journal. GEO 7 applies to the trans-European railway, road, maritime and air transport infrastructure projects in Romania (“TETI … Read the rest more…

Order no. 1105 of 29 March 2016 for amending the 394 statement on transactions carried out on the national territory

ANAF Order no.1105/ 2016 for the amendment of Order no. 3769/ 2015 on the reporting of transactions carried out on national territory by persons registered for VAT purposes as well as the content of informative 394 statement was published in … Read the rest more…

Romanian Legal Week: March 28 – April 3

International Law – Romania is supporting the Republic of Moldavia in implementing the unique system for 112 urgent calls Raed Arafat, the state secretary of the Ministry of Foreing Affairs in Romania, affirmed that Moldavia will be supported by Romania … Read the rest more…

CMS: ECJ addresses meaning of “consumer” under the EU Unfair Contract Terms Directive

In a recent case, Horatiu Ovidiu Costea v. Volksbank Romania, the Court of Justice of the European Union (the “ECJ”) clarified the meaning of “consumer” under the EU directive on unfair terms in consumer contracts (Directive 93/13/EEC, the “Unfair Contract … Read the rest more…

A Survey regarding the Approach of the Romanian Courts to the Notion of Public Policy in the Context of Recognition and Enforcement of Foreign Arbitral Awards and in Proceedings for Setting Aside Arbitral Awards

Dr. Cosmin Vasile, Partner ZAMFIRESCU RACOȚI & PARTNERS and Violeta Saranciuc, Senior Associate ZAMFIRESCU RACOȚI & PARTNERS have published in Revista de Note și Studii Juridice (RNSJ) the article A Survey regarding the Approach of the Romanian Courts … Read the rest more…

Țuca Zbârcea & Asociații leads on Swiss media group Ringier’s acquisition of top Romanian online real estate portal

Dragoș Apostol Țuca Zbârcea & Asociații acted for Ringier, one of the largest international media groups operating in Romania, on the acquisition of a majority stake in Imobiliare.ro from Broadhurst Investments. Imobiliare.ro is Romania’s leading online advertising portal for real … Read the rest more…

Centre of Main Interests and Forum Shopping: Moving Insolvency Proceedings to a Friendlier Jurisdiction

CENTRE OF MAIN INTERESTS As a general rule, insolvency proceedings fall under the jurisdiction of the national courts in the state where the debtor’s head office is registered (“State of Incorporation“). Such jurisdiction is reasonably practical, as most … Read the rest more…

The OECD released the electronic support for the automatic exchange of information between jurisdictions as part of the Country-by-Country (CbC) reporting

As part of Action 13 issued by the OECD in the final BEPS Package released last year, Guidance on the Implementation of Transfer Pricing Documentation for Country-by-Country Reporting, the CBC XML scheme was developed, providing the electronic standardized format in … Read the rest more…

Decision regarding the automatic exchange of information adopted by the Romanian Senate

Considering that The European Council has welcomed OECD’s ongoing efforts made to develop a global standard for automatic exchange of financial information, on the 21st of March 2016, the Romanian Senate adopted the Decision on the Proposal for a Council … Read the rest more…

Neil McGregor works with The Ministry of Justice on Romania’s new Anti-corruption Strategy, as BRCC representative

Following the launch of consultations by the Romanian Ministry of Justice on Romania’s new Anti-corruption Strategy, Neil McGregor, managing partner of McGregor & Partners and Vice-Chairman of the British Romanian Chamber of Commerce (BRCC) met senior officials in the Ministry … Read the rest more…

BONDOC & ASOCIATII Obtain an Important Confirmation in Administrative Litigation Area: Nullification of Documents Issued Based on Provisions of Government Ordinances Declared Unconstitutional in Other Cases

The Administrative and Tax Litigation Division of the High Court of Justice ordered the nullification of some administrative documents, namely claw-back payment notifications, issued in 2012, prior to the Constitutional Court’s Decision no. 39/2013, whereby the provisions of Government  Emergency … Read the rest more…

PwC Romania launches this year’s edition of the PwC Career-Boosting Game

Up to 150 students and graduates will be selected through this programme. PwC Romania launched this year’s edition of the PwC Career-Boosting Game an innovative approach to the recruitment and selection process based on the gamification concept, which proposes the … Read the rest more…

Romanian Legal Week: March 21-27, 2016

The Superior Council of Magistracy – reestablishment of tutelage courts at the request of the Chamber of Notaries Public Bucharest Commission no. 1 of the Superior Council of Magistracy, Independence and accountability of justice, the streamlining of its activity and … Read the rest more…

Corporate compliance conference

TRACE International, Wolf Theiss, the US Embassy in Romania and EY Romania hosted the Corporate Compliance Conference on 24 March 2016 in Bucharest. The event provided participants with an invaluable opportunity to learn the latest practices to effectively … Read the rest more…

CMS: Romanian Competition Council makes Eight Recommendations to Increase Competition on the Romanian Fuel Market

In a recent press release, the Romanian Competition Council (“RCC”) set forth the following recommendations for stimulating competition on what it deems to be a very concentrated fuel market: 1. Creation of a database and a web/mobile application… Read the rest more…

Transitional norms of the Union Customs Code regarding electronic systems were published

The Union Customs Code (“UCC”), which will enter into force starting May 1st, 2016, provides exclusive electronic processing of information. The transitional norms were published given the non-availability of electronic systems necessary for the exchange of information between customs authorities … Read the rest more…

Norms regarding access to EMCS-RO system have been simplified

EMCS system used in all EU Member States allows for an administrative document to be submitted in electronic format (e-DA), the tracking of movements and discharging of operations with excisable products under excise duty suspension as well as online submission … Read the rest more…

Romanian Legal Week: March 14-19, 2016

Directive (EU) 2016/343 of the European Parliament and of the Council of 9 March 2016 on the strengthening of certain aspects of the presumption of innocence and of the right to be present at the trial in criminal proceedings The … Read the rest more…

BIRIȘ GORAN Advises Adamamerica on Purchase of Phoenix Tower

BIRIȘ GORAN is pleased to announce that its client, Adamerica, has successfully closed its acquisition of Phoenix Tower, a 10,000 sqm office tower located on Calea Vitan in Bucharest, Romania. BIRIȘ GORAN advised Adamamerica on all aspects of the purchase … Read the rest more…

Deloitte Legal Dbrief. European Insolvency Law Reform: Be Ready for the Future!

REFF & ASSOCIATES, the law firm representing Deloitte Legal in Romania, is delighted to invite you Tuesday, 22 March, 12:00 – 1:00 PM CET to participate in the next Dbrief, focused on European Insolvency Law Reform: Be Ready … Read the rest more…

Authorization procedure for temporary storage spaces and those used in free zones

A procedure has recently been published for authorizing warehouses and perimeters for the temporary storage of non-Community goods in the customs territory of Romania, between the time they are presented to customs and when they are assigned a customs destination. … Read the rest more…

Romanian Legal Week: March 7-14, 2016

The Competition Council has approved the merger between Nextebank S.A. and Carpatica Commercial Bank S.A. The Competition Council has approved the acquiring of control over Carpatica Commercial Bank S.A. and the entities it controls it by Nextebank S.A. Nextebank S.A. … Read the rest more…

How concerned do you need to be about emerging markets?

Once again the global economy faces a dangerous cocktail of risks including slowing growth in China, a strong dollar, and low commodity prices. But this time, the emerging market economies look the most vulnerable, while advanced economies are still struggling … Read the rest more…

Talent feels@home at Deloitte to Bring over 60 Graduates

DELOITTE ROMÂNIA launches Talent feels@home at Deloitte recruitment campaign with the aim to attract over 60 graduates. The campaign will take place in Bucharest, Iasi, Cluj-Napoca and Timisoara and targets young talents aspiring for a career in tax and audit … Read the rest more…

Romanian Legal Week. February 29 – March 4, 2016

The High Court of Cassation and Justice. Limits of Journalist’s freedom of expression HCCJ has decided that, according to the jurisprudence of European Court of Justice, journalists are protected by Article 10 of the Convention, when they are in the … Read the rest more…

PwC. IPO Watch Europe 2015

The London IPO pipeline still contains attractive investment opportunities, but increases in the number of postponed or cancelled deals are expected in 2016 as companies battle against market volatility and challenging market conditions, according to PwC’s latest IPO Watch. … Read the rest more…

Deloitte Legal Dbrief. New EU Public Procurement Directive: Keeping up with the Changes

REFF & ASSOCIATES, the law firm representing Deloitte Legal in Romania, is delighted to invite you Wednesday, March 2, 2016, between 12.00 to 1 pm (CET) to participate in the next Dbrief, focused on New EU Public Procurement Directive: … Read the rest more…

Romanian Legal Week: February 22-28, 2016

The National Anti-corruption Directorate presented its 2015 activity report LIVE@JURIDICE A meeting in which The National Anti-corruption Directorate presented its 2015 activity report took place on Thursday, 25.02.2016. The full video is available here. Laura Codruţa Kovesi, chief prosecutor … Read the rest more…

Clarifications regarding movement of goods under suspension of excise duties and treatment of shortages

The Court clarified the scope of article 10 (4) of Directive 2008/118, which deals with situations where excisable products moving under a suspension regime have not arrived at their destination and no irregularity has been detected during the movement. Contrary … Read the rest more…

Biriș Goran Attorneys won for Farmec a new stage in the lawsuit with ANAF

BIRIȘ GORAN law firm announces the successful closure of a new stage in the lawsuit between Farmec SA and ANAF. On 18 February 2016, the litigation team headed by Mihai Nusca obtained in court the annulment of the taxation decision … Read the rest more…

Romanian Legal Week: February 15-21, 2016

The law on postal voting was adopted by the Government The Romanian Government approved on Thursday, 18th February 2016, a decision stipulating that, starting with the parliamentary elections from this year, the Romanian citizens who have voting rights and their … Read the rest more…

Deloitte Legal launched Dbriefs. UPDATE: Recorded webcast

18 februarie 2016: The recorded webcast here. * 17 februarie 2016: Deloitte Legal launched Dbriefs, live webcasts, to help you gain insights on key legal trends and critical issues affecting your global business operations. REFF & ASSOCIATES, … Read the rest more…

Restrictive measures regarding possession and release for consumption of ethylic alcohol and intermediate products in bulk

According to the Methodological Norms of the Tax Code, the sale of ethylic alcohol and alcoholic beverages, subject to marking, in containers exceeding 3 litres capacity is considered as bulk sale. Release for consumption in bulk and bulk possession of … Read the rest more…

Cases in Which Taxpayers May Be Declared Inactive by Tax Authorities

Following the amendment of Law No. 207/2015, regarding the Code of Civil Procedure, with effect from 1 January 2016, any taxpayer, either a natural or a legal entity, or an entity without legal personality, shall be declared inactive, … Read the rest more…

Recent changes in the Competition law

In the Official Gazette it was published the Law No. 347 of 23 December 2015 approving the Government Emergency Ordinance No. 31/2015 amending and supplementing the Law No. 21/1996 (hereinafter referred to as “the Law”) bringing major changes to the … Read the rest more…

The amendment of Decision regarding the establishment of State aid scheme to support investments | Draft

The Ministry of Public Finances has issued Thursday, 4th February 2016, the Project of amending and supplementing the Decision of the Government no. 332/2014 regarding the establishment of State aid scheme to support investments that promotes regional development by creating … Read the rest more…

Amendment of the Code of Civil Procedure

Law No. 134/2010, regarding the Code of Civil Procedure, has been amended under Government Emergency Ordinance No. 1/2016, particularly inasmuch as enforcement proceedings are concerned. The Constitutional Court has recently found that the initiation of enforcement … Read the rest more…

Form “Summary statement regarding intra-Community deliveries / acquisitions / services” |Draft

The National Agency for Fiscal Administration has issued for public debate on Monday, the 1st of February 2016, the Order Draft for the approval of the template and content of Form “Summary statement regarding intra-Community deliveries / acquisitions / services”.… Read the rest more…

Joinder of claims governed by two Civil Procedure Codes

High Court of Cassation and Justice has decided that after joinder of two claims, there are not two lawsuits concerned, but only the one, which is on the register of the court that was primary invested and that should apply … Read the rest more…

The Declaration regarding the sums resulting from the adjustment / the amendment of the adjustments / VAT regularization form | Draft

The National Agency for Fiscal Administration launched a public debate on Monday, 1 February 2016, concerning the Order Project for the approval of the model and the content of form 307 (“Declaration regarding the sums resulting from the adjustment/ the … Read the rest more…

Administrative act issued with abuse of power

The High Court of Cassation and Justice has ruled that a public authority with monitoring, prevention and control responsibilities in a certain domain of activity, considering the preponderant position that it exercises by dint of prerogatives of public power that … Read the rest more…

PeliFilip assisted Banca Transilvania in the acquisition of a performing loans portfolio from Bank of Cyprus

PeliFilip assisted Banca Transilvania, one of the most important players of the local banking sector, in the acquisition of a performing loans portfolio granted by Bank of Cyprus to retail clients in Romania. The completion of this transaction is scheduled … Read the rest more…

Tougher conditions for employers imposed by recent changes to the Law on the social dialogue

Law no. 1/2016 amending and supplementing Law no. 62/2011 on the social dialogue (“Law on the social dialogue”) was published in the Official Gazette no. 26 of 14 January 2016 and entered into force on 17 January 2016. The most … Read the rest more…

Changes regarding the notification of personal data processing

The Decision of the National Supervisory Authority for Personal Data Processing (the “Authority”) no. 200/2015 (the “Decision”) was published in the Official Gazette no. 969/28.12.2015. The change in the legal regime regarding the notification of the Authority The main amendment … Read the rest more…

Romania aligns with European standards in terms of VAT treatment of moulds and production equipment

In the automotive industry and manufacturing sector, contracted goods are often produced using equipment, moulds, tools, etc. made available to suppliers by the buyers of goods. The ownership always belongs to the contracting companies and they do not charge any … Read the rest more…

Significant legislative amendments regarding transfer pricing

The National Agency for Fiscal Administration (“ANAF”) published today, the 2nd of February 2016, the Order no. 442/2016 regarding the values of transactions, the deadline for the preparation, the content and conditions for the request of the transfer pricing file … Read the rest more…

Union Customs Code – First set of transitional measures

Customs authorizations with limited validity that were obtained based on the current customs legislation and which are valid on 1st of May 2016 will still remain valid after this date. Therefore: customs authorizations with limited validity (e.g. Inward processing) will … Read the rest more…

Noerr further consolidates its top position in the M&A market

Bucharest, 01 February 2016 – Noerr has clearly consolidated its top position in the German market for mergers and acquisitions in 2015. This is shown by the current rankings published by the leading financial news services Mergermarket, Bloomberg and Thomson … Read the rest more…

Lawyr.it launches a new Open Call for submissions

Lawyr.it, the only student-powered legal publication focused on Central Eastern Europe, has launched a new open call for the eleventh edition of their magazine. Law students presently enrolled in a university (irrespective of degree – LL.B., LL.M. or PhD) … Read the rest more…

Deductibility of consumables

The High Court of Cassation and Justice decided that, in accordance with art. 21 para. (1) of Law no. 571/2003 regarding the Fiscal Code, for determining taxable profit, only expenditure incurred in order to achieve taxable income are treated as … Read the rest more…

Conditions that must be met in order for an agreement to be regarded as being an administrative one

The High Court of Cassation and Justice of Romania ruled that, according to the provisions of article 2 paragraph (1) letter c), the second thesis of the Law no. 554/2004 of the Contentious Administrative, there are two conditions which should … Read the rest more…

Form VAT deduction|Draft

The National Agency for Fiscal Administration has issued for public debate on Monday, the 25th of January 2016, the Order Draft for the approval of the template and content of Form (300) “VAT deduction”. :: Order Draft :: Addendum 1… Read the rest more…

Amendments to Competition Law no. 21/1996

Law no. 347/2015 approving Government Emergency Ordinance no. 31/2015 amending and supplementing Competition Law no. 21/1996 (”Competition Law”) was published in the Official Gazette no. 973 dated December 29, 2015. We have listed below the main amendments to the law … Read the rest more…

Țuca Zbârcea & Asociații assisted McDonald’s in the sale of the Romanian subsidiary

Țuca Zbârcea & Asociații assisted McDonald’s in a complex transaction finalised on 22 January 2016 whereby the shares of McDonald’s System of Romania, Inc., a Delaware company which owns its Romanian subsidiary were sold to Premier Capital SRL, a subsidiary … Read the rest more…

Clifford Chance Badea: 2016 Predictions in Competition

For Competition, 2015 was an extremely intense year in Romania as well, with a very active regulatory authority, a record number of investigations and infringement decisions, as well as important changes in the legislation. “The local competition landscape reflects, mostly, … Read the rest more…

Is it legal to access your employees’ communications? European Court says “yes, but only in exceptional cases”

On 12 January 2016, the European Court of Human Rights (the “Court”) issued its judgment in the case of Bărbulescu v Romania, pursuant to application no. 61496/08. In this decision, the Court ruled that, although there is privacy at the … Read the rest more…

Transitional measures regarding the guarantee letters for covering excise duties payments – deadline March 31st 2016

Under the new provisions, the guarantor must be a bank registered in the European Union and European Economic Area, which is authorized to operate in Romania (i.e. through a branch). What does it mean for you? If you carry out … Read the rest more…

Biriş Goran Assists Vastint Romania in Major Land Acquisition in Bucharest, Romania

Bucharest, 25 January 2015. Biriş Goran is delighted to announce that it assisted its long-standing client, Vastint Romania (member of the Inter IKEA Property Division), in a 48-hectare land acquisition in the Gheorghe Ionescu-Sisesti road area of Sector 1, … Read the rest more…

Mergermarket recognizes WOLF THEISS as the leader in M&A rankings in Romania, Austria, Slovenia and Croatia

Bucharest, 25 January 2016 – Wolf Theiss is the top legal adviser for 2015 in M&A transactions in several countries, according to Mergermarket, the leading independent data service provider for Mergers & Acquisitions in Europe. In Romania, Croatia and Slovenia, … Read the rest more…

Ionescu și Sava legal advice regarding the currency used for valid payments between residents

After seeing time and again questions on the correct currency to be used for payments between residents, Ionescu si Sava consultancy team recommends Romanian residents to include in sale or services contracts a provision according to which payment under the … Read the rest more…

Țuca Zbârcea & Asociații, named National Champion for Romania in the European Business Awards 2015/06, the largest awards program in Europe

One of the most prestigious competitions for the European business community has announced its National Champions, with Țuca Zbârcea & Asociații being selected as a Romania champion alongside 9 other business entities. It is for the first time that a … Read the rest more…

Claim regarding the compensation for loss of profit

The High Court of Cassation and Justice decided that in order to establish the pecuniary equivalent of the damage caused by the unilateral termination of an agreement, such damage should cover the actual losses, lost profit, and the repair should … Read the rest more…

New thresholds for public procurement and concession contracts

The European Commission has set new thresholds regarding the value of public procurement and concession contracts which entered into force on 1 January 2016. Therefore: 1. The Commission delegated Regulation (EU) 2015/2170 of 24 November 2015 amended the Directive 2014/24/EU … Read the rest more…

Țuca Zbârcea & Asociații, designated „Gold” by WTR 1000

Țuca Zbârcea & Asociaţii came first in the “Enforcement and Litigation” table of this year’s WTR 1000 which identifies the leading law firms specialising in Intellectual Property Now in its sixth year, the WTR 1000 shines a spotlight on the … Read the rest more…

Deloitte. Order for the approval of the domestic supplies and purchases list (394) regarding transactions carried out on the national territory

In the Official Gazette no. 11 dated 7th January 2016, Order no. 3769/ 2015 was published governing the reporting of operations carried out on national territory by persons registered for VAT purposes. It applies starting 1st April 2016 (i.e. for … Read the rest more…

Credit agreement. Effects of the jurisdiction clause

The High Court of Cassation and Justice decided that, considering the clause inserted in the mortgage loan, according to which, in case an amicable solution is not possible, the dispute shall be submitted to the competent court, under the law, … Read the rest more…
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