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Muşat & Asociaţii appoints four new partners
Bucharest, 31st of January - Muşat & Asociaţii promoted four new partners - Alina Elena Popescu, Monia Dobrescu, Ionuţ Bohâlţeanu and Iulian Popescu, each of whom have extensive expertise in their areas of practice. Muşat & Asociaţii’s number of partners is now 16.
For more information please visit www.musat.ro
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If the Romanian taxation system were under any sign, it would surely not have been Libra this year. Hence, the unbalanced practice of abrupt or disputed changes to the tax legislation persisted in disregarding the principles set forth in art. 4 of the Romanian Fiscal Code, whereby (i) the code is to be amended solely based on a law, (ii) the amending law must be advocated for, as a rule, six months prior to its entry into force, and (iii) any amendment to the code will enter into force starting the 1st of January following the year it was adopted.- Musat & Asociatii
Disputes in Romania are settled in court in the vast majority of cases, under procedures regulated mainly by the new Civil Procedure Code (CPC). The CPC entered into force on 15 February 2013, has carried out a systemic and extensive overhaul of the Romanian dispute resolution model. With a specific focus on acceleration of trial proceedings, the new regulation has reformed both the schedule and the content of proceedings taking place in various phases of the lawsuit, while attempting to clarify many of the controversies raised by interpretable provisions in the former regulation.
Initiated late November 2013 and adopted by the Romanian Parliament on 17.12.2013 (to be published upon the President's confirmation), the law regarding purchase of agricultural lands by non Romanian EU Citizens is setting the ground rules expected for the past 7 years, since Romania's accession to EU.
Before 1989, when the Communism regime fell, mineral resources in Romania were exploited by state-owned companies. Although these exploitations were advertised as big economic successes of the communist governments, in reality, most of them were using outdated technology and some caused significant pollution in the mining perimeters. Moreover, in the context of Romania's negotiations to join the European Union, some of the mining exploitations had to be shut down as they were far from being compliant with the European environmental standards.
September 2013 - Projects, Energy and Natural Resources. Legal Developments by Buzescu Ca. More articles by this firm.
In the Legal Insights edition of 18 March 2013, we presented the potential changes to the Romanian renewable energy scheme, resulting from an unofficial working draft Government Emergency Ordinance (GEO) circulated on the market. This Tuesday (2 April 2013), a draft Government Emergency Ordinance on the amendment of Law no. 220/2008 was officially published on the website of the Ministry of Economy. The public is invited to submit comment within the next 30 days, to the e-mail address email@example.com .
Romania seems to be one of the most attractive CEE jurisdictions for renewable energy investments, due to the generous support scheme which generated increasing enthusiasm over the past few years. Implemented in 2005, the support scheme for renewable energy (RES) consisting of tradable green certificates (GCs) combined with mandatory acquisition quotas was improved in 2008 and subsequently in 2010, but was only applicable as of mid-2011, upon state aid clearance from the European Commission (EC).
Although its stability over time represents the essence of the Romanian Constitution (the “Constitution”) and of any constitution, such fundamental law within the Romanian legal system should at the same time, at any moment, represent both a frame of reference for the Romanian social, political and economical life and a reflection of such. Given the accelerated changes within the society, in order for the Constitution to be brought in line with the overall social, political and economical evolution and perspectives, a procedure for its revision and also the limitations in what regards the possibility for the Constitution to be revised are established by this fundamental law itself. .
Government emergency ordinance no. 8/2013 for the amendment and supplementation of Law no. 571/2003 regarding the Fiscal Code and the regulation of certain financial and fiscal measures (published in the Official Gazette no. 54/23.01.2013) enters into force starting from 1 February 2013. GEO 8 introduces a number of important amendments and supplementa-tions in the fiscal legislation. We shall further present some of the amendments related to di-rect taxation, respectively to social insurance.
1. Background The Romanian Competition Law no. 21/1996 (the " Law ") has been adopted and amended on various occasions so that it reflects the evolution of the competition law provisions in the EU. On 6 July 2010 the Law has been substantially amended, introducing among other institutions the commitments procedure for anticompetitive practices. Previously, the commitments were available only in merger cases under the form of remedies. The commitments procedure has been detailed in RCC guidelines issued in December 2010 (the " Guidelines "), which have been amended at the end of year 2012.