Romania’s taxation system is not noted for its clarity and it does no harm to remind investors of the current position under Romanian law. So this week I thought as prudent Lawyers in Romania we would revisit some tax aspects. Starting with 2007 the Romanian tax system changed in respect of real estate transactions. The legislators sought to impose a
Romania has not been immune from the beginning of the World Financial Crisis from the fall-out of the world financial problems. Many companies have failed and have entered into a form of reconstruction or have gone straight to closure and liquidation. There are though a number of companies in the twilight world of suspension. Under Law 31/1990
One of the things that membership of the European Union entails is dealing with Value Added Tax (VAT). We, like all lawyers in Romania, are often asked about VAT and its impact and implications on business. One must always remember that VAT is a European Union community tax and is not therefore well known outside
Like many Romanian law firms we receive periodically requests in relation to property in Romania. This maybe in relation to claiming land and property which was originally owned by a relative who has died or from people who are the heirs and successors of people who have left Romania and seek to reclaim their property
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
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
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