Romanian Taxes

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The Twilight Zone

Romania has not been immune from the beginning of the World Financial Crisis from the fall-out of the world financial problems. Many companies have failed and have entered into a form of reconstruction or have gone straight to closure and liquidation. There are though a number of companies in the twilight world of suspension.  Under Law 31/1990 [...]

By | June 16th, 2014|Categories: All posts, Romanian Business, Romanian Law, Romanian Taxes|0 Comments

Comments Regarding VAT Reclaims

One of the things that membership of the European Union entails is dealing with Value Added Tax (VAT). We, like all lawyers in Romania, are often asked about VAT and its impact and implications on business. One must always remember that VAT is a European Union community tax and is not therefore well known outside [...]

By | June 9th, 2014|Categories: All posts, Romanian Taxes|0 Comments

Some Issues concerning Romanian Property

Like many Romanian law firms we receive periodically requests in relation to property in Romania. This maybe in relation to claiming land and property which was originally owned by a relative who has died or from people who are the heirs and successors of people who have left Romania and seek to reclaim their property [...]

A Legal Impact at Christmas

Christmas comes but once a year as does the New Year. These are important times for Romania and Romanians as well as for the Ministry of Finance. Each year the Ministry passes an Ordinance whereby they change certain taxes and procedures in Romanian law and which will come into force on 1st January of the [...]

Employment – Pitfalls

Romania has one of the most employee friendly legal regimes in the EU. One hears about the problems in terms of restructuring and employee removal in France and Italy but Romania comes very close behind. For all employers the question of employee protection and employees rights becomes important as a company develops or needs to [...]

2014 and Onwards

In 2014 Romania will celebrate seven years as a member of the EU. At this stage I am not sure what celebrations the Romanian Government has planned, but they will sure do something. Many of the restrictions that were imposed in the Accession Treaty when Romania joined the EU will be lifted. These restrictions were [...]

Until the Pips Squeak

When the last PNL government fell in 2012 the incoming Government lead by Victor Ponta was caught by surprise. He was catapulted into the position as Prime Minister and was the youngest Prime Minister in the EU. He had little or no experience of macro or micro economics. On becoming Prime Minister he made a [...]

Enhanced debt recovery in Romania

Debt recovery in Romania has caused problems for foreign investors over many years.  I would estimate that questions concerning debt recovery are the third most common request that we receive.  Recoveries of debts in Central Europe including Romania were a byword for Byzantium thinking.  One hears of cases that have been running for at least [...]

They have done it again

One of the quirks of Romanian legislation incorporated in the Constitution is the use of Emergency Ordinances.  The intention originally was for them to be used when Parliament was not sitting and allowed the Government to pass "emergency" legislation which would then be ratified by Parliament later when they were in sitting. Over the last 20 [...]

Treaty Obligations Broken?

The Romanian Finance Authorities are a law unto themselves. This is no more apparent than in the field of the prevention of Double Taxation.  Treaty obligations do not necessarily apply in all cases and my comments below deal only to payments made to companies based in the EU. We are often asked by clients why [...]