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
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.
When I first came to Romania there was very little to purchase in the shops. Goods were in short supply and often of poor quality. There were very few imports. Shops would display articles and then refuse to sell them to you, as they would then have nothing else to display. This actually happened to me
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 employee rights becomes important as a company develops or needs to
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
One of the major problems in Romania is keeping up with the changes in law. How do we do this many Clients ask? How do we keep up to date? As an emerging economy the laws are updated often without notice (Government Emergency Ordinances), or an important law is blocked in Parliament, and then suddenly passed
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