April 02, 2015 16:41
The tax on "special" constructions, lowered by 0.5% as of 1 January 2015, is now expected to be repealed beginning 1 January 2016. Meanwhile, tax authorities decided – the tower of a WTG is subject to taxation....more »
March 23, 2015 16:20
Since the beginning of 2015, a number of legislative changes were enforced regarding the VAT registration of Romanian companies established in accordance with Company Law no. 31/1990....more »
March 20, 2015 12:19
An updated regulation on the licensing regime in Romania's power sector was recently adopted by ANRE, the national regulatory authority. On 17 March 2015, Order no. 12/2015 on the Regulation for granting licenses and authorizations in the electricity sector ("Order 12"), effective as of publication, was published in the Romanian Official Gazette no. 180/2015 and repeals the former regulation, ie Order no. 48/2013. ...more »
February 24, 2015 14:11
By Iulia Simion, Senior Lawyer at WOLF THEISS Rechtsanwälte GmbH & Co KG. In 2014, Law no. 17 (the "Law") was enacted. The Law enforced new prerequisites for the sale of agricultural land located outside the built up area of the citie...more »
January 26, 2015 17:47
"Biometric data", as defined in Opinion no. 4/2007 on the concept of personal data, which was established under Directive 95/46/EC on the protection of individuals with regard to the processing of personal data and on the free movement of such data, refers to biological properties, physiological characteristics, living traits or repeatable actions that are both unique and measurable. The biometric data of an individual may be provided, inter alia, by fingerprints, retinal patterns, facial structure, voices, but also hand geometry, vein patterns or even some deeply ingrained skill or other behavioral characteristic, such as a handwritten signature, the manner of speech and even walking....more »
January 26, 2015 10:25
The transactions of 2014 have confirmed the optimistic expectations from the beginning of the year, which forecasted an increase of the M&A market based on the slight economic increase from the first part of the year. With two of the largest transactions (i.e. divestment of the Lafarge / Romcim assets as part of the conditions required by the Lafarge-Holcim merger clearance by the European Commission and sale of the Enel assets in Romania) still pending at the end of 2014, last year has nevertheless proven to be one of the most prolific in M&A transactions until the beginning of the economic crisis....more »
January 12, 2015 14:57
By Adriana Radu, Head of Telecom, Media and Technology Team and Oana Apopei, Attorney at Law at Schoenherr & Asociatii Government Emergency Ordinance no. 77/2009 on organization and exploitation of games of chance ("GEO 7...more »
October 22, 2014 12:36
The Law no. 121/2014 on energy efficiency (“the Law”) which transposes the 2012/27/EU Directive of the European Parliament and of the Council of October 25, 2012 on energy efficiency into national law and creates the legal framework for the development and implementation of the national policy in the field of energy efficiency was published in the Official Gazette no. 574/2014. The Law aims to increase energy efficiency in Romania, targeting a reduction by 19 percent of energy consumption by 2020. In this regard, the Energy Efficiency Department is set up under the National Energy Regulatory Authority (ANRE), the body being responsible for drafting legislative proposals, promoting the development of energy services market, monitoring the implementation of the national plan for energy efficiency and cooperating with various authorities involved in the process....more »
October 21, 2014 13:59
As frequently happens, application of provisions as regards customs law may prove difficult for both the Romanian authorities and taxpayers. Recently, the president of the National Agency for Fiscal Administration (ANAF) has adopted a series of new rules on access to the NCTS-RO transit application in view of modernizing and facilitating the submission of customs declarations. The said rules have been enforced by the Order no. 2783/2014 published in the Official Gazette of Romania on September 12 and effective since September 15, 2014. ...more »
October 16, 2014 15:19
The Romanian real estate market shows signs of recovery, especially due to the significantly increased number of office projects and of transactions with agricultural lands. Also, the market is safeguarded from the immobility of the residential segment by retailers which are continuously expanding. Separately, the trend to acquire lands for future developments, as a result of the currently accessible prices which render the acquisitions profitable, is particularly noteworthy. Moreover, banks have started to create their own real estate management vehicles, while various small and medium sized investment funds allocate capitals between euro 20 and 50 million for the acquisition of assets from banks, within enforcement or insolvency proceedings....more »
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