New fiscal measures in the context of the economic difficulties caused by the COVID-19 epidemic: corporate income tax and VAT for certain imports

In the context of the economic and financial difficulties caused by the spread of the COVID-19 virus, the Romanian Government has adopted the Emergency Ordinance No. 33/2020 regarding certain fiscal measures and the amendment of certain normative acts, published in the… Read moreNew fiscal measures in the context of the economic difficulties caused by the COVID-19 epidemic: corporate income tax and VAT for certain imports

COVID-19 in international commercial contracts. CISG and UNIDROIT perspective

The outbreak of COVID-19 (“coronavirus”) has undoubtedly impacted the business relations at global level, leading to important consequences caused by the nonperformance of international commercial contracts. The contractual partners often invoke the outbreak to excuse their non-performance, either as force… Read moreCOVID-19 in international commercial contracts. CISG and UNIDROIT perspective

PwC survey on the impact of COVID-19 on businesses: 37% have fully or partially interrupted activity, 27% will definitely apply for technical unemployment

37% of companies surveyed have fully or partially interrupted their operations after declaring the state of emergency due to COVID-19 pandemic and 20% have reduced their activity, according to the PwC Romania HR Barometer conducted by PwC Romania at the… Read morePwC survey on the impact of COVID-19 on businesses: 37% have fully or partially interrupted activity, 27% will definitely apply for technical unemployment

Arbitration as an Alternative to Court Proceedings in Time of COVID-19 Pandemic

The pandemic generated by COVID-19 brought the whole world to a halt. From boutiques shops to airline companies, most businesses are affected by the pandemic. However, as with every rule, there are some exceptions. Some companies, mostly those related to… Read moreArbitration as an Alternative to Court Proceedings in Time of COVID-19 Pandemic

The implications of the measures related to the state of emergency in the insolvency procedure

1. The general and legal context In view of the evolution of the international epidemiological situation caused by the spread of Coronavirus, which determined the pandemic declared by the World Health Organization, on March 11, 2020, the Decree no. 195/2020… Read moreThe implications of the measures related to the state of emergency in the insolvency procedure

Measures to mitigate the negative impact of COVID-19. Deferral of loan payments

The National Bank of Romania (“NBR”) together with the Romanian Government have responded swiftly to the economic shock created by the COVID-19 pandemic by announcing several measures aimed to alleviate the adverse impact of COVID-19 on individuals and small &… Read moreMeasures to mitigate the negative impact of COVID-19. Deferral of loan payments

Romanian competition watchdog issues new guidance on cooperation during the crisis

In a further attempt to mitigate the effects of the COVID-19 outbreak, Romanian Competition Council (RCC) issued a press release providing further guidance on business practices for companies during the COVID-19 pandemic (see here for our reporting on the first guidance)…. Read moreRomanian competition watchdog issues new guidance on cooperation during the crisis

Romania adopts new restrictions for limiting the spread of coronavirus at healthcare units

On 23 March 2020, the Romanian Department for Emergency Situations (DSU) issued Order No. 74527/2020, which implements measures to limit the spread of the coronavirus at healthcare units. This Order was passed after more and more hospitals in Romania reported… Read moreRomania adopts new restrictions for limiting the spread of coronavirus at healthcare units

Romanian health authorities to prioritise approval of COVID-19 clinical trials

In response to the COVID-19 pandemic, the Romanian National Agency for Medicines and Medical Devices (ANMDM) announced that it will prioritise approval of clinical trials of those medicines earmarked for treatment of coronavirus infections. Depending on the number of applications… Read moreRomanian health authorities to prioritise approval of COVID-19 clinical trials