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
During the property bubble in Romania a number of investors bought properties using a local company. This was because a local company could own land even if the shareholders were foreign. This was so even if even for the purchase of an apartment which included the implied purchase of an undivided share in the land