romanian finance

/Tag:romanian finance

Thoughts on the current Romanian Economy

Romania was a very different country when I came in 1990 to today. In fact, Romania has come not only a long way since 1990 but has come a further long way in the last twelve to eighteen months both in economic as well as political and social terms which I can attest [...]

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 [...]

Influence Peddling under Romanian Law

One of the most frequent questions we are asked is regarding corruption and influence peddling in Romania and how this is dealt with under Romanian law. Unfortunately, Romania does figure in a number of corruption indices and in a high position. The question that is being asked is why, and how does it affect business. [...]

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 [...]

Moving into the Electronic Age

One of the major areas of complaint in Romania is bureaucracy, and the filling in of countless meaningless forms. This can occur in the area of general taxation, but especially in relation to dealing with the Romanian customs authorities. For some time now, as those of you who have to deal with the authorities know, [...]

Issuing Promissory Notes

The whole basis of the Romanian economy changed in 1989 and this brought about a profound effect on the way that business was done in Romania. Many foreign investors forget that only since 1989 has Romania had a capitalistic economy.  This has been a blessing and a curse but one of the major impacts has [...]