Presently, a legislative proposal has been placed on the agenda, focusing on measures aimed at streamlining governmental operations. This comprehensive proposal encompasses various modifications, one of which pertains to an amendment to the personal income tax act (“PIT Act”).

On 26 September, the Romanian Government approved by way of Law No. 296/2023 (the “Law”) important fiscal measures intended to reduce the budget deficit and ensure long-term financial stability. After multiple debates, the Law was published in Official Gazette No. 977 of 27 October 2023.

On 1 October 2023, the amendments of the new Land Registry Act entered into force and as a result, the Act will enter into force only on 1 October 2024, instead of the date of 1 February 2024 already postponed from the initial date of 1 February 2023.

Karanovic & Partners has advised Burger King on entering the market of Bosnia and Herzegovina and the opening of its first restaurant in Sarajevo.

Starting from 1 January 2024, the Council Directive (EU) 2022/2523 of 14 December 2022 on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union (hereinafter: Directive) will start to apply.

Bucharest's Suciu Popa has entered a strategic partnership with accounting and financial consultancy Vulpoi & Toader Management.