More drastic sanctions for infringements of overtime regulations are expected
On 18th September, a draft amendment to the Romanian Labour Law was approved by the Chamber of Deputies. Its only purpose is to introduce much more drastic sanctions for any employer in Romania not observing the regulations on overtime. For the law to come into force, it has to be approved by the President and published in the Romanian Official Gazette.
New declaration of beneficial owner mandatory for all companies
New declaration of beneficial owner mandatory for all companies. The new Romanian anti- money-laundering legislation obliges all companies or subsidiaries which are registered with the Romanian Commercial Register, but also associations and foundations, to disclose their beneficial owner. As the form for the declaration of the beneficial owner at the Commercial Register has been published, during the next months, action is required for all businesses registered with the Romanian Commercial Register. Please find the special announcement here.
Veronica Visinescu analyses the effects of insolvency proceedings in the context of public procurement procedures in the Romanian Magazine on Public Procurement
Veronica Visinescu analyses the effects of insolvency proceedings in the context of public procurement procedures in the Romanian Magazine on Public Procurement The latest edition of the Romanian Magazine for Public Procurement (Revista de Achizitii Publice) contains an article by Veronica Vişinescu, responsible for the public procurement practice within STALFORT Legal. Tax. Audit. The article analyses the effects of the opening of insolvency proceedings against operators during various phases of a public procurement procedure, as well as during the performance of a public procurement agreement. Please find the article in Romanian language here; you can visit the magazines website under following link.
Legal Update –presentation by STALFORT Legal. Tax. Audit. at the AHK on 01.10.2019
Legal Update –presentation by STALFORT Legal. Tax. Audit. at the AHK on 01.10.2019 In October 2019, the member’s meeting of the Romanian-German Chamber of Commerce (AHK Romania) is dedicated to “Legal Updates”. During the event, Christian Weident, leader of the employment practice of STALFORT Legal. Tax. Audit. will report on the current movements within the Romanian employment legislation. The event will take place on 01.October 2019, 18:00 h, at the Hotel Caro in Bucharest. Please find details here.
Thoughts on the first data protection sanctions in Romania
Just before the summer holiday, the Romanian Data Protection Authority caused intense tumult by imposing the first three data protection sanctions against Romanian companies based on the GDPR. Subject to these fines were a bank (UniCredit, €130,000), a hotel (World Trade Center Bucharest, €15,000) and a consultancy company (Legal Company & Tax Hub SRL, €3,000), which was, ironically, offering advice on data protection issues.
Tax burden on wages – synthesised comparison
Romania has a minimum wage set by law. Each year, it is set by a separate legal norm. For 2019 there are two different minimum wage levels: 2,080 RON and 2,350 RON. For the higher wage, the key elements are the necessary level of education for the role, and the employment period.
Recent changes regarding salaries and taxation in the construction sector
As already reported, Emergency Ordinance no. 114/2018 (“EO 114”) caused quite a stir in the construction industry, as it came up with a drastic increase of the minimum salary and tax exemptions for affected employees. The changes were frequently look at as having a destabilizing effect; for many companies it was problematic to adapt to the new economic context. At the end of July, the government brought a new change with regard to salaries and taxes.
Contractual penalties in employment contracts ineffective for good
Within each and every legal relationship, the situation may arise in which the parties do not fulfill their obligations, this leading to them (for instance) being liable for compensation. When it comes to the liability of the employee to the employer, many employers want to impose contractual penalties in the case of certain breaches of duty. This practice had been controversial for a long time in legal opinions and case law, but since 12th July 2019 it has been excluded following a decision by the Supreme Court .
Building Permit no longer needed for on-roof photovoltaic installations
On 27th June 2019, a law came into force stating that inter alia the construction of on-roof photovoltaic systems no longer requires a building permit under Romanian law.. For potential electricity producers, providers and producers of system engineering, and assemblers, this is good news in general.
New regulations on the restructuring of companies with real estate property
About a year ago we reported on new regulations on mergers (fuziuni) and spin-offs (divizari) of companies with real estate property, where the transfer of ownership as a result of a merger or spin-off was supposed to be registered in the land register based on a ‘reorganisation certificate’. At the end of May, new regulations were introduced. Like the previous changes, the new provisions bring anything but clarity.