Romanian Legal Week: September 19-25, 2016

Government emergency ordinance regarding the civil auto insurance for the damages caused to the third parties through cars and trams crashes In the Official Journal of Romania Part one, no. 723 from 19th of September has been published the … Read the rest more…

Romanian Legal Week: September 12-18, 2016

CCR. Unsolved civil action in case of cease of criminal law suit as a result of the prescription of criminal liability Tuesday, 13th September 2016, Constitutional Court Plenum debated the constitutional challenge of the disposals of Article 25 Paragraph 5 … Read the rest more…

New regulations on fire safety and civil protection authorizations applicable starting from 1 September 2016

The Order of the Ministry of Internal Affairs (“MIA”) no. 129/2016 approving the Methodological Norms on fire safety and civil protection authorization procedures (“Order no. 129/2016”) entered into force upon its publication in the Official Gazette of Romania no. 675, … Read the rest more…

Romanian Legal Week: August 29 – September 4, 2016

Amendment of normative acts on foreigners In the Official Gazette of Romania, Part I, no. 670 of 31 August 2016 was published the Government Ordinance no. 25/2016 amending and supplementing certain enactments on foreigners. The new ordinance amends Government Ordinance … Read the rest more…

Deloitte Romania’s Corporate Finance Team Combines with Filipescu Visa to Strengthen Practice

In an extremely dynamic business environment, Deloitte Romania has further invested in its growing Financial Advisory practice by combining its Corporate Finance team with well-known financial advisors and one of the most experienced independent consultancy companies FILIPESCU VIȘA. The … Read the rest more…

Romanian Legal Week: 22-28 August, 2016

The completion of the Law on the Tax Code The Ministry of Public Finance has launched in public debate on Tuesday, 23rd August 2016, the draft of the Emergency Ordinance on the completion of Law no. 227/2015 regarding the … Read the rest more…

Implementation of Common Reporting Standards (CRS)

On 24 August 2016, the Ministry of Public Finance published the Order for implementing and applying procedures of the CRS. The new legislative act provides the actions/procedures for meeting the obligations provided by the Romanian Fiscal Procedure Code (article 62, … Read the rest more…

Romanian Legal Week: August 15-21, 2016

HCCJ. What must be proved in case of a penalties clause that is part of a share sale and purchase agreement The High Court of Cassation and Justice has ruled that the court of appeal correctly stated that the penalties … Read the rest more…

Significant changes brought to Law no. 10/1995 on construction quality

Law no. 163/2016 for amending and supplementing Law no. 10/1995 on construction quality (“Law 163/2016” or “Amending Law”) was published in the Official Gazette no. 561 dated 25 July 2016 and will enter into force on 24th of August 2016. … Read the rest more…

Romanian Legal Week: August 8-14, 2016

The Government issued the methodological requirements concerning the adoption law The Government approved on 10.08.2016, during its session, the methodological requirements concerning the adoption law. The latter was previously modified and amended at the beginning of the year. The new … Read the rest more…

Submission deadline changed for form 394

Starting with the reporting period for July 2016, the legal deadline for submitting form 394 (the local sales and purchases list) is changed to the 30th of the month following the reporting period. If the reporting period is the calendar … Read the rest more…

Deloitte Grows Digital Practice in Romania

In a move to offer solutions to meet ever changing needs of the market, Deloitte Romania is expanding its consulting practice by further focusing on Digital Transformation. Experienced consultant Cosmin Costea of Costeaconsulting.com with a strong background in digital business … Read the rest more…

Romanian Legal Week: August 1-7, 2016

European funds for SMEs in agriculture The European Investment Bank (EIB) has provided on 29 July 2016, a loan of 15 million euro to the company Agricover Credit IFN for the purpose of financing small projects implemented by SMEs in … Read the rest more…

CMS: Enactment of offshore regulations in Romania

On 28 July 2016, the “Law on the Safety of Offshore Oil Operations” (the “Offshore Law”) was published in the Official Gazette. The Law establishes the minimum requirements necessary to prevent major offshore related accidents and limit their … Read the rest more…

CMS: Romanian Energy law amendments affect electricity trading

On 28 June 2016, the Romanian Parliament adopted the “Law Amending and Supplementing the Romanian Energy and Natural Gas Law” (the “Law”). The Law modifies the legislative framework for electricity trading on the Romanian energy market. Despite the … Read the rest more…

Starting 1 August 2016, the reduced 9% VAT rate is applicable for specific goods /services used in the agricultural industry

Under Order 1155/ 868/2016, the reduced 9% VAT rate applies for the following categories of goods: – Fertilizers; – Pesticides; – Seeds and other agricultural products for seeding or planting. The Order specifically includes the NC codes for each of … Read the rest more…

Romanian Legal Week: July 25-31, 2016

The completion of the Regulations regarding the fees for the services of notaries public| Draft The Ministry of Justice has launched in public debate Thursday, on 28th of July 2016, the Draft of the Order of the Minister … Read the rest more…

APS acquire €1,3 billion NPL portfolios in Romania assisted by ȚUCA ZBÂRCEA & ASOCIAȚII

ȚUCA ZBÂRCEA & ASOCIAȚII assisted APS Holding a. s. (APS) to achieve the successful completion of the acquisition of two portfolios of non-performing loans (NPL) with the nominal value of €1.33 billion in Romania. The team of lawyers at ȚUCA … Read the rest more…

Deloitte, REFF & ASSOCIATES Assess Competiveness of Food Processing, Construction Industries

Deloitte Romania together with REFF & ASSOCIATES, the law firm representing the international network of law firms Deloitte Legal in Romania have conducted a report assessing the competiveness of the food processing and construction industries, two sectors that have … Read the rest more…

BONDOC & ASOCIATII assisted Mid Europa Partners on the Romanian law aspects pertaining to their acquisition of the full control over Waberer, one of the largest road freight transport operators in Europe

BONDOC & ASOCIATII assisted Mid Europa Partners, the leading private equity firm focused on Central and South Eastern Europe, in acquiring full control of the leading CEE road freight transport company Waberer’s International Nyrt (“Waberer’s”or the”Company”), by acquiring the shares … Read the rest more…

CMS: Romanian FSA withdraws Carpatica Asig SA’s licence and commences bankruptcy procedures

On 27 July 2016, the Board of the Romanian Financial Supervisory Authority (“FSA”) analysed the status of the Romanian insurance undertaking Carpatica Asig SA, considering several audit and assessment reports. The outcome of the FSA analysis was the … Read the rest more…

CMS: Romanian Competition Council Adopts Guidelines on Anti-Competitive Practices in Public Tenders

The Romanian Competition Council (the “RCC”) recently published new guidelines on detecting and preventing anti-competitive practices in public procurement procedures (the “Guidelines”). The issuance of the Guidelines is further evidence of the RCC’s focus on anticompetitive … Read the rest more…

Romanian Legal Week: July 18-24, 2016

HCCJ. Breach of the ”tantum devolutum quantum apellatum” and ”non reformatio in pejus” principles The High Court of Cassation and Justice has decided that the appeals court did not respect the ”tantum devolutum quantum apellatum” principle and the one that … Read the rest more…

OECD releases guidance on the implementation of Country-by-Country reporting. Deloitte launched CDX tool

OECD’s guidance on the implementation of CbC reporting The OECD/G20 BEPS Project set out 15 key actions to reform the international tax framework and ensure that profits are reported where economic activities are carried out and value is created. One … Read the rest more…

Romanian Legal Week: July 11-17, 2016

Raluca Prună participated in the informal meeting of the Justice and Home Affairs Council Raluca Prună, the Minister of Justice, participated between 7-8 July, in the informal meeting of the Justice and Home Affairs Council which took place in Bratislava. … Read the rest more…

Customs guarantee treatment for special customs procedures or free zones

Amongst the new orders which transpose the provisions of the new Customs Code of the Union ( “CVU”) in the national legislation, we mention: – Technical norms for the authorization of special regimes; – Technical norms on the use of … Read the rest more…

Deloitte EMEA 360° Boardroom Survey: Agenda priorities across the region

Company boards appear to be adopting a more optimistic outlook for growth and competitiveness in the short to medium term compared to the recent past according to the first edition of the Deloitte Survey “EMEA 360° Boardroom Survey: Agenda priorities … Read the rest more…

Elimination or reduction of the tariff duties on certain codes of the Combined Nomenclature

By signing the Agreement on Information Technology (“ATI”), the European Union granted tariff concessions for products used in the Information Technology industry. By the EU Decision no. 971/2016, ATI agreement has been extended to a wider range of products. In … Read the rest more…

Significant amendments on the legal framework regarding the Romanian consumer financing market

The Romanian National Authority for Consumer Protection (“NACP”) recently published on its web site a legislative proposal to amend of the legal framework relating to credit agreements between Romanian based financial institutions and consumers (i.e. private individuals) (“… Read the rest more…

Alina Bilan, partner ONV LAW, talked about practical measures to unlock infrastructure projects in Romania, at the launching of CCIFER’s White Book of Constructions

Alina Bilan, partner ONV LAW, talked about practical measures to unlock infrastructure projects in Romania, at the launching of CCIFER’s White Book of Constructions, on July 7th, 2016. Alina focused on how to improve public procurement process and accelerate … Read the rest more…
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