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Articles, Banking and Capital Markets

Bank details about the situation of taxpayers could be transmitted daily to the IRS

Thus, in accordance with Art. 61 of the Project, the credit institutions may be required to submit daily the operations with cash, in local or foreign currency, whose minimum limit represents the equivalent in lei of EUR 5,000, whether the transaction is carried out by one or more operations which seem to have a connection […]

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By : Jun 11, 2017 No Comment

laptop lawyer property law

Articles, Employment and Labour Law

The High Court of Cassation and Justice decided: dismissal is canceled if the employer has not given notice to the employee

Also, “the lack of mentioning in the decision to dismiss of the mention regarding the duration of the notice given to the employee is not sanctioned by nullity of the decision and the measure of dismissal when the employer proves that he gave notice to the employee with the minimum duration provided by art. 75 […]

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By : Jun 11, 2017 No Comment

laptop lawyer property law

Articles, Banking and Capital Markets

Change of the program “First House”, those who own a house through this program can purchase a bigger one

According to the new provisions, program beneficiaries who own a house purchased or built within the Program, can purchase a new house in the Program with cumulative fulfillment of the following conditions: a) new house to be purchased under the Program must have an usable area larger than the house originally purchased or built within […]

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By : Jun 11, 2017 No Comment

laptop lawyer property law

Articles, Banking and Capital Markets

Non-issuance of the fiscal receipt shall be punished with suspension of activity and sealing of the commercial space

If the competent control authorities order the suspension of activity of the economic operator at the working point, according to the provisions of the law, they also proceed to seal the unit. If sealing the unit of the economic operator cannot be done at the time of the offense, the control bodies conclude a protocol […]

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By : Jun 11, 2017 No Comment

Articles, Corporate Commercial and M&A

The transfer of shares of a company, possible only after a tax inspection

So, according to the new provisions, the transfer of 50% of shares in a company, performed in 12 month period since the company’s founding date, can be achieved and is opposable only after the tax inspection carried out by the specialized bodies within the National Agency of Tax Administration, tax inspection that will be made […]

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By : Jun 11, 2017 No Comment

Articles, Banking and Capital Markets

Starting with March 3rd, the banks will be required to display the card transactions fees on the ATM screens

Order came into force and takes effect starting on 03.03.2015. According to the provisions of the Order, payment institutions that provide services of accepting payment through debit cards and credit cards issued in Romania, at the ATM terminals located in Romania, are required to inform consumers of all fees, charges, expenses and any other type […]

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By : Jun 11, 2017 No Comment

laptop lawyer property law

Articles, Corporate Commercial and M&A

Companies may have a new unique identifying code. Law Project amending the laws on registration in the Trade Register

In accordance with the provisions of the respective Project, the National Trade Register Office as well as the County offices will be incorporated in the System of interconnection of Trade registers, which is a European system that will included all Trade registers from the Member States of the European Union. In order for this system […]

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By : Jun 11, 2017 No Comment

laptop lawyer property law

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

laptop lawyer property law

Articles, Employment and Labour Law

The risks of non-payment of social security contributions by employers

According to the said Order, it was approved the model, content, method of submission and management of the Declaration on payment obligations of social contributions and income tax records of insured persons. The nomenclature “subsidies/exemptions/reductions’” shall be amended and replaced by the Annex which is an integral part of the Order. In order to grant […]

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By : Jun 11, 2017 No Comment