Art. 29 of Law no. 350/2001 regarding the town development and town planning was amended by Law no. 221/2011 published in the Official Gazette no. 852/2011 [in Romanian, Lege nr. 221 din 29 noiembrie 2011 pentru modificarea alin. (2) al art. 29 din Legea nr. 350/2001 privind amenajarea teritoriului şi urbanismul]. Law no. 221/2011 provides that the town planning certificate […]
Monthly Archives: December, 2011
New criteria for VAT purposes registration
Order no. 2795/2011 of the Minister of Public Finance, regulating the criteria for VAT purpose registration, was published in the Official Gazette no. 824 of November 22, 2011 [in Romanian, Ordin nr. 2795 din 10 noiembrie 2011 privind stabilirea criteriilor pentru conditionarea inregistrării in scopuri de TVA]. Order no. 2795/2011 repeals Order no. 1984/2011, provading a new registration procedure and […]
New VAT regulations as of 1st January 2012
Government Decision No. 1135 of 9 November 2011 for the amendment of the Government Decision No. 759/2007 on the rules of eligibility of the incurred expenses within the operations financed by operational programs (published in the Official Gazette no. 849 on the 30of November 2011) (“GD no. 1135/2011“), and the Council Regulation (EU) No 904/2010 of 7 October 2010 on […]
Can you get fired because of Facebook?
The number of employees dismissed because of inappropriate messages posted on Facebook is growing in the U.S. and Western Europe. Will we see similar cases in Romania? Daniel Cirstea, a partner at Dragne & Asociatii, answered that question for realitatea.net: yes, but only in certain situations: "To the extent that, through their posts on social networking sites, the employees fail [...]
Environment protection rules amended in line with EU law
Law no. 211/2011 regarding waste management was published in the Official Gazette no. 836 of November 25, 2011 [in Romanian, Lege nr. 211 din 15 noiembrie 2011 privind regimul deşeurilor] and it transposes the provisions of Directive 2008/98/EC of the European Parliament and of the Council of November 19, 2008 regarding waste. The most important provisions refer to: the waste […]
Applications of insolvency on a strong upward trend
2011 saw an increase in applications for insolvency filed by creditors, compared with 2010. Applications by debtors also increased. “If before the economic crisis debtors were quite reluctant to request the opening of proceedings, fearing their commercial images to be affected, they now see this action as a life preserver, which gives them a chance to restructure the debt and […]
New provisions on the credit institutions liquidity requirements
Regulation no. 25/2011 issued by the National Bank of Romania, regarding the credit institutions liquidity requirements [in Romanian, Regulamentul nr. 25 din 8 noiembrie 2011 privind lichiditatea institutiilor de credit] was published in the Official Gazette no. 820 of November 21, 2011 and shall entry into force at January 1, 2012. Regulation no. 25/2011 provides the minimum liquidity level applicable […]
New law for incriminating of the usury activities
The usury activities are prohibited in Romania under the Law no. 216 of 16 November 2011, published in the Official Gazette no. 827 of November 22, 2011, Part I [in Romanian, Legea nr. 216 din 16 noiembrie 2011 privind interzicerea activitatii de camatarie]. According to Law no. 216/2011, the usury practise constitutes a crime which may be punished with 6 […]
Amendments to the bankruptcy procedure of credit institutions
The bankruptcy procedure of credit institutions was amended by Law no. 207/2011 regarding the approval of Government Emergency Ordinance no. 37/2010 as published in the Official Gazette no. 817 of November 18th, 2011. The latter amends and supplements the Government Ordinance no. 10/2004 regarding the bancrupcy of credit institutions [In Romanian, Legea nr. 207 din 15 noiembrie 2011 privind aprobarea […]
Amendments to Law no. 255/2010
Law no. 205/2011 for amending and supplementing Law no. 255/2010 regarding the expropriation for public utility required for developments of national, county and local interest (the “Law”) was published in the Official Gazette no. 813 of November 17th 011 – Part I, [in Romanian, Legea nr. 205 /2011 pentru modificarea si completarea Legii nr. 255/2010 privind exproprierea pentru cauză de […]