Environmental legal aspects related to Asset Deals
In case of transactions related to facilities or activities for which an environmental permit is applicable, the environmental legal aspects often play a significant role. We will discuss below the fundamental correlations.
NEWSFLASH - New entry restrictions in Romania due to Covid-19
NEWSFLASH - New entry restrictions in Romania due to Covid-19 As expected, the state of alert in Romania was extended by further 30 days, starting from 11.02.2021. The legal basis is the Government Decision No 35/ 2021. The National Committee for Emergency Situations (CNSU) adopted Decision No. 9/2021 re. the new entry restrictions on 11.02.2021 and Decision No. 11/ 2021 re. the updated list of risk areas on 19.02.2021. In addition to these restrictions, particularly relevant are the obligations of providers of international transport services from these areas to Romania. Please find more details here.
Non-resident employers and Romanian employees – practical aspects
Foreign companies ask themselves quite often weather they can hire Romanian employees for certain activities in Romania without actually having an establishment in Romania.
Privacy Shield invalidated – What now? – sequel
As already described in a previous article, the European Court invalidated the Privacy Shield on July 16 2020 in the so-called Schrems II Judgment II. This agreement related to data protection in the context of data transfers from Europe to the US had been made following the prior invalidation of the Safe-Harbor program.
Advance pricing agreements on the transfer prices
One of the fiscal areas which is most sensitive and prone to significant tax adjustments is related to the transfer prices (i.e. prices applied within the transaction carried out with affiliated persons). This is mainly due to the size of the transactions carried out between affiliated persons (usually between the non-resident parent company and its Romanian subsidiary), and to improper setting of the transfer prices themselves.
Actions for damages in case of infringements of the competition law
On the 14th of October, regulations on the right to compensation of any individual who has been the victim of the infringement of the competition law entered into force in Romania.
Europe seeks more efficient measures for preventing insolvency
On the 26th of June 2019, the Directive (EU) 2019/1023 (“Restructuring Directive“) regarding insolvency procedures was published; it came into effect on 16.07. Member states had to implement this directive in their national legislation by 17.01.2021.
NEWSFLASH - Tax amendments at the beginning of 2021
NEWSFLASH - Tax amendments at the beginning of 2021 A number of relevant fiscal amendments have been enacted in the final period of the year through Law no. 296/2020 amending and supplementing the Fiscal Code (Law no. 227/2015), subsequently modified by the Emergency Ordinance no. 226/2020. Please find more details here.
Labor Law Update 2021
At the turn of the year, we would like to provide an overview of the most recent changes of relevance in practice in the field of Labor law in Romania and to provide an outlook for 2021.
Advance pricing agreements on the transfer prices
One of the fiscal areas which is most sensitive and prone to significant tax adjustments is related to the transfer prices (i.e. prices applied within the transaction carried out with affiliated persons). This is mainly due to the size of the transactions carried out between affiliated persons (usually between the non-resident parent company and its Romanian subsidiary), and to improper setting of the transfer prices themselves.