Category: Banking and Capital Markets

It entered in force the Ordinance no. 9/2016 on amending and supplementing Law no. 449/2003 regarding the sale of goods and associated guarantees

According to the Ordinance, compared to the old regulation, was introduced a new provision regarding “the guarantee of legal compliance” which is the legal protection of the consumer resulting from operation of law in relation to non-compliance, representing the legal obligation of the seller to the consumer as without requesting additional costs, to bring the […]

It was approved the Order on the procedure for declaring inactive taxpayers

According to the Order, the taxpayers / payers declared inactive will have the VAT registration cancel by default, starting with communication of the decision of declaring the inactivity. Taxable persons who had canceled the registration for VAT due to their declaration of tax inactivity, at the reactivation will request the registration for VAT to the […]

Preliminary ruling on the nature of the consumer loan. Ruling of the EUCJ

1.     Must it be held that, pursuant to Article 4(1)(2) (investment services and activities), Article 4(1)(17) (financial instruments) and Annex I, Section C, point (4) (forward currency contracts, derivative instruments) of Directive [2004/39/EC] (1) (‘the directive’), the offer of an (exchange rate) transaction to a client which, under the legal form of a foreign currency denominated loan agreement, consists […]

laptop lawyer property law

ANPC has won in the first instance in front of the Bucharest Court the case regarding possible abusive clauses with the Romanian Bank

According to the press release, the case was submitted to the court based on the certified minutes which indicated the existence of possible abusive clauses in the contracts of personal loans, bank credit mortgage agreements, and mortgage loan agreements, respectively clauses regarding: 1.     Monitoring fee “Percentages calculated on the monthly balance of the loan is […]

laptop lawyer property law

What is the deadline for replacing the cash registers with paper rolls?

These provisions are contained in the Emergency Ordinance No. 91/2014 on amending and supplementing the Government Emergency Ordinance No. 28/1999 regarding the obligation of operators to use fiscal electronic devices, published in the Official Gazette, Part I no. 966 of 30.12.2014 and consolidated on 23.07.2015. Under the provisions of this ordinance, “electronic cash registers appliances […]

The tax record certificate was amended, starting on 03/09/2015

This Ordinance repealed the previous regulation regarding the fiscal record certificate, respectively Government Ordinance no. 75/2001 on the organization and functioning of the fiscal record certificate, bringing important changes to it. Tax record is a means of recording and tracking the compliance with fiscal discipline, accounting and financial by taxpayers, which keeps track of individuals, […]