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
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
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