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Category: Banking and Capital Markets

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Articles, Banking and Capital Markets

Procedure to manage and monitor the medium taxpayers

Thus, according to the Order, Tax authorities competent to manage medium taxpayers are county government public finance and Bucharest Regional Public Finance by Tax Administration of medium taxpayers, for: legal entities taxpayers who are tax resident in the county or Bucharest jurisdiction, where appropriate; secondary offices set up by medium taxpayers, who are tax resident […]

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By : Jun 11, 2017 No Comment

Articles, Banking and Capital Markets

The Project of the Tax code could reduce the flat tax

Also, taxpayers engaged in night bars, nightclubs, discotheques, casinos or sports betting, including legal entities performing such income under a contract of association, and where the income tax due for activities under this item is lower than 5% from the respective incomes shall be obliged to pay tax at the rate of 5% of these […]

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By : Jun 11, 2017 No Comment

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Articles, Banking and Capital Markets

Law project on consumer credit agreements secured by real estate

The Project is intended to create a complex and comprehensive legal framework regarding credit agreements secured by real estate consumer. The project aims both in the national legislation transposing the provisions of Directive 2014/17 / EU regulation and market specific issues and practice. Also, intermediaries must take into account a wide range of products from […]

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By : Jun 11, 2017 No Comment

laptop lawyer property law

Articles, Banking and Capital Markets

New law project on Tax Code modifications -the tax on buildings will be modified

This tax will be determined depending on the destination of the buildings – residential and non-residential buildings, differently from the present legislation providing tax assessment according to juridical personality of the owner: individuals or legal persons. Thus, for residential buildings, the tax rate will be between 0.08% – 0.2%. For individuals the basis for the […]

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By : Jun 11, 2017 No Comment

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Articles, Banking and Capital Markets

What is ROBOR and EURIBOR indexes ?

Banks borrow one another to cover their liquidity needs of the moment or to sterilize liquidity and additional available. The need for liquidity can occur when a bank recorded a higher number of loan applications from customers, or in certain periods when the National Bank of Romania (BNR) requires minimum liquidity requirements in the system. […]

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By : Jun 11, 2017 No Comment

laptop lawyer property law

Articles, Banking and Capital Markets

What legislative solutions exist for the Swiss franc crisis?

This draft ordinance amending the Fiscal Code, respectively GEO no. 46/2014 on amending and supplementing Law no. 571/2003 regarding the Fiscal Code, published in Official Gazette no. 475 of 27 June 2014 requires restructuring of loans as follows: – the restructuring will be given to those who do not register delays in payment or those […]

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By : Jun 11, 2017 No Comment

Articles, Banking and Capital Markets

The Swiss franc reached a historic value of 4.32 lei.

More and more customers are choosing the court actions to freeze the exchange rate at the time of concluding the loan agreements According to Mediaxaf, “The three largest banks in the system display a course of 4.5700 lei / franc (BCR), 4.4080 euro / franc (BRD) and 4,700 euro / franc (BT), Bancpost had shown […]

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By : Jun 11, 2017 No Comment

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Articles, Banking and Capital Markets

The economic operators are required to use electronic fiscal marking devices

The obligations imposed by this ordinance addresses to economic operators cashing in whole or in part, with cash or using credit cards / debit cards or cash substitutes, the retail value of the goods delivered and services made directly to the population. They are obliged to use electronic fiscal marking devices and issue tax receipts […]

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By : Jun 11, 2017 No Comment

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Articles, Banking and Capital Markets

The banks are required to prove the execution of pre-contractual obligations of informing and verification of borrower creditworthiness

By Decision C-449/13 CA Consumer Finance SA / Ingrid Bakkaus and others, dated 18 December 2014, the Court of Justice of the European Union found that “the Directive does not specify whose incumbent to prove that the creditor has executed the obligations of informing and verification of trustworthiness, so this is a problem of internal […]

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By : Jun 11, 2017 No Comment

Articles, Banking and Capital Markets

The most important changes of the Fiscal Code starting with January 2015

Under the Project, the most important changes concern: income tax, VAT, excise duties and other special charges, income from independent activities, financing of health spending and the extension of deadlines. Regarding the income tax, the Project provides inter alia: 1. Elimination from the Fiscal Code, for taxpayers who derive income from independent activities, rental and […]

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By : Jun 11, 2017 No Comment