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Category: Romanian Taxes

Why Issue a Promissory Note

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Nicholas Hammond
vineri, 26 noiembrie 2021 / Published in News, Romanian Business, Romanian Law, Romanian Taxes
Issue a Promissory Note
The Romanian economy changed in 1989 and this brought about a profound effect on the way that people lived their lives and business was done in Romania. Many foreign investors forget that only since 1989 has Romania had a free market economy. This has been a blessing and a curse. One of the major impacts
company liability in Romaniainternational taxationpromissory noteromanian financeRomanian tax lawyerromanian taxation

The importance of knowing the tax legislation

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Hammond Partnership
luni, 15 iunie 2020 / Published in News, Romanian Law, Romanian Taxes
the importante of knowing the tax legislation
Tax law is a branch of public law. Fiscal legal reports are born in the process of collecting taxes or their administration. The administration of taxes and duties is a legal notion used by the tax procedure code, whose legal coverage is much wider, considering not only the collection, but also the tax registration, the

Tax Update, All Change – Perhaps?

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Hammond Partnership
vineri, 17 noiembrie 2017 / Published in Employment, Romanian Law, Romanian Taxes
The Romanian Government has done what very few Governments in the past have done and that is that they have united both employers and Unions in a common cause.  They have done this by implementing the measures set out in Emergency Ordinance 79/2017 (“Ordinance “). This Ordinance was published on 10th November 2017 and has

Transfer Pricing in Romania

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Hammond Partnership
luni, 27 februarie 2017 / Published in Romanian Business, Romanian Law, Romanian Taxes
Transfer pricing is becoming more and more of an issue in Romania.  Although not a member yet of OECD Romania has tried in many cases to follow the rules of the OECD.  A number of recent treaties against Double Taxation follow the OECD recommended format. One of the areas in which the OECD has been

Ash Is The Future of Smoking

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Nicholas Hammond
marți, 16 februarie 2016 / Published in News, Romanian Business, Romanian Law, Romanian Social Issues, Romanian Taxes
  In the 1930’s smoking was seen as the “in” thing to do. The social and economic pressure was such that no-one knew or cared about the consequences of smoking. This was also true in the 1950’s and early 1960’s. My own feeling is that it was a case of lack of knowledge of other
fines for smokinghealth services of RomaniaRomanian Gambling IndustryRomanian integration into EU and EuropeRomanian law no. 349Romanian State BudgetTAROM

What Tax Will You Pay on Company Incorporation

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Nicholas Hammond
luni, 01 februarie 2016 / Published in News, Romanian Business, Romanian Law, Romanian Taxes
One of the current most challenging issues on the incorporation of a company in Romania is the immediate tax impact on the company and its profitability. The majority of Romanian companies were incorporated with the minimum capital of two hundred (200) RON. This means a minimum capital of approximately forty-five (45) Euros. This is still
Art 48.5 Romanian Fiscal Codebusiness in Romaniacompany liability in Romaniaissues on incorporation of Romanian companylarge capital investmentlimited liability companyNational Bank of RomaniaRomanian Fiscal Coderomanian taxationthin capilisation rules for Romania

Closer to Europe

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Nicholas Hammond
luni, 24 august 2015 / Published in Employment, Romanian Business, Romanian Law, Romanian Taxes
Succession The 17th August may not have been a very important day for many people and lawyers in Romania, but it will have had an impact on them. For Romanian family lawyers and those involved with tax planning, succession with cross border aspects have often given rise to complex structures. The law of succession varies
EU Regulation No 650/2012European Certificate of Successionlawyers in RomaniaRomanian family lawyersstampswill in Romania

Closer to European Taxation Norms

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Nicholas Hammond
marți, 05 mai 2015 / Published in Romanian Business, Romanian Law, Romanian Taxes
The Romanian Government is presently trying to change the current Financial Code and issue a new Romanian Financial Code.  The reasons for the changes appear to as much political as economic, and indeed a number of economists have criticized the Government for what they see as obvious electioneering. The reduction in certain taxes will certainly
Emergency Ordinance no. 6/2015European taxationincome from independant activities in RomaniaRomanian Financial CodeRomanian non-resident legal entitiesRomanian resident tax payers

Romania and the Junker Plan

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Nicholas Hammond
marți, 20 ianuarie 2015 / Published in Romanian Business, Romanian Social Issues, Romanian Taxes
The recent announcement by the European Union Commission of the Junker plan will have an important impact on Romania. It is clear to all businessmen that the economies of Eastern Europe still need much work done upon them even after seven years in the case of Romania of EU membership.  The same comments ap0-ply to many

International Marriages

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Nicholas Hammond
miercuri, 10 decembrie 2014 / Published in Romanian Business, Romanian Law, Romanian Social Issues, Romanian Taxes
Family law in Romania for non Romanians is one of the more complicated areas of law, especially if you come from a common law country. This is I believe why we are often asked to give advice on inheritance law in relation to unions between Romanian and non-Romanian citizens. This is why one of the changes introduced in 2011
international marriages
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