Extending the commitment period for offers in public procurement law – duty or option?
Context In public procurement procedures, bidders are often requested by the contracting authority to extend the initial commitment period of their offers. This request is generally due to the fact that the contract cannot be signed within the initial commitment period given the existence of repeated disputes over the award procedure.
New mandatory salary increases for certain areas of activity
The Romanian Government’s surprise Emergency Ordinance (“EO 114”), which came into force on 1st January 2019, is having an unwelcome effect on important economic sectors, notably the construction industry.
Legal surprises at the turn of the year – follow-up
Last week, we reported about the fiscal changes, some of which are far-reaching, which came into force on 1st January 2019 by means of a highly debated and heavily criticized Emergency Ordinanace (“EO 114”).
Tax surprises at the turn of the year
In Romania, it has become common to take tax-payers by surprise with legislative changes at the end of the year. 2018 was no exception. On 29th December a new Emergency Ordinance (“EO 114“) was published, which came into force on 1st January 2019.
Real Estate Law: Important news on condominiums
On 28 September 2018 a new law (the law) came into force, providing new regulations relevant in practice for properties jointly owned by several persons.
Additional places of business, in practice
A company’s business can require the execution of permanent activities outside the company’s headquarters. In such cases, the Romanian Tax Procedure Code identifies the existence of additional places of business (sedii secundare). In practice, one must observe the following important aspects.
Minimum wage raised by law. Besides, certain employers might have to raise salaries voluntarily
It is almost a tradition that every year, the Romanian minimum wage is raised by Government Decision. In view of the raise for 2019, the Government issued two legal acts having effects on several levels.
Offshore-Law – new opportunities in sight?
On 17 November 2018, the controversial so-called offshore law came into effect after it was highly debated.
Taxes and Finance: the usual changes at the end of the year
As usual at the end of the year, the Romanian Financial Administration is working intensely on regulatory changes in the finance and tax field. We will discuss below some of those changes – although they will probably not be the last this year.
Extension of investments at AHK the regional event in Brasov on 27.11.2018
This year’s last regional event of the AHK , the German- Romanian Chamber of Commerce, will take place on 27.11.2018 in Brasov, one of the hot spots of the Romanian economy.