By Order no. 2.048/2022 amending accounting regulations applicable to economic operators (“the Order”), published in Official Gazette no. 878/07.09.2022, the Romanian authorities have transposed into national law the provisions of EU Directive 2021/2101 of the European Parliament and of the Council of 24 November 2021 (“the EU Directive”) amending Directive 2013/34/EU as regards the disclosure of income tax information by certain undertakings and branches.
Poland: No Building Permit Needed for Construction of Single-Family Building Over 70 Square Meters
A building permit, according to Polish construction law, is the administrative decision authorizing the commencement and the carrying out of construction or the execution of building work other than construction of a building structure.
Guest Editorial: Adaptability in Times of Change
Adaptability in times of change is one of the most needed qualities in individuals, but societies at large also need to have it, to better take advantage of shifting times. Are the CEE region and its legal profession able to adapt to the changes it is facing?
Procurement Principles to Obtain Project Funding under the PNRR
Romania's National Recovery and Resilience Plan (PNRR), designed to ensure an optimal balance between EU priorities and Romania's development needs, provides significant opportunities for the private sector to benefit from financing to build and/or consolidate infrastructure capacity.
Did You Know: Ten-Year Banking/Finance Leaderboard in Hungary
Did You Know that a total of 15 partners have worked on multiple reported Hungarian Banking/Finance client matters in the ten years that CEE Legal Matters has been covering the market? The Banking/Finance leaderboard over the past decade is led by CMS Budapest Partner Erika Papp, who has worked on 14 reported Banking/Finance client matters in that time.
Hungarian DPA Imposes First Fine for Website Cookie Management
Until recently, news reports regarding cookies have only discussed the gigantic fines imposed by foreign data protection authorities (DPAs) on tech giants (Google, Amazon, Meta). For economic reasons, operators of simple websites are continuing to use their illegal practices without risk until the last possible moment.
Hungary: Introduction to the New Company Act
The procedural rules applicable to the registration of companies in Hungary have been largely unchanged since the entry into force of the present Company Act of 2006 (Act V of 2006 on Public Company Information, Company Registration and Winding-up Proceedings). Now, these long-established practices are about to change, as a new Company Act (Act XCII of 2021 on the Registration of Legal Persons and the Registration Procedure) is being introduced by the legislator.
Romania: Tax Exemptions for Digital Nomads
Following the legislative changes introduced at the beginning of 2022 concerning the long-term visa for digital nomads, the Romanian tax authorities have published Law no. 69/2023 in the Official Gazette no. 265 of 30 March 2023.
Romania: The Double-Edged Sword of ChatGPT in the Workplace
The business world is evolving at lightning speed, and technology is at the forefront of this change. One of the most significant technological advancements is the use of chatbots such as OpenAI's ChatGPT. Even though using ChatGPT might sound like a good idea and simplify workflows, its widespread use in the workplace can be a double-edged sword, raising concerns about the potential risks and legal issues that employers must take into account to safeguard their business.
Romania: Latest Changes to Vat Exemptions
Law 88/2023, which was published in Official Gazette no. 310 from 12/04/2023, contains important amendments to the Romanian Fiscal Code.
CEELM Deal of the Year Awards Banquet: And the Winner Is...
On the evening of April 25, 2023, the Deal of the Year Awards Banquet brought together, under the same roof, top-tier lawyers from Central and Eastern Europe's leading law firms and ILFs active in the region in Istanbul.
Noerr and CEE Attorneys Advise on Saint-Gobain Acquisition of Revco Hungary
Noerr has advised Saint-Gobain on its acquisition of plasters, paints, and coatings producer Revco Hungary. CEE Attorneys advised the sellers.
Noerr Advises SLR Gruppe on Acquisition of Sates
Noerr has advised Orlando Management portfolio company SLR Gruppe on its acquisition of Sates. Samak reportedly advised the seller.
Romania: New Tax on Sale of Agricultural Land
According to Law no. 17/2014 on the regulation of the sale of agricultural land located outside a built-up area (Ro. extravilan), an 80% tax applies to the sale of such land if it is sold before the expiry of 8 years from its purchase.
Romania: Tax Amnesty Law Regarding the Reclassification of Gift Vouchers as Salary
Law 43/2023 on the introduction of a tax amnesty for tax liabilities, including interest and penalties for late payment, calculated by the tax authorities following the reclassification of income from gift vouchers obtained by individuals from persons other than employers, from the category of income from other sources to the category of salary income, was published in the Official Gazette no. 163 on 24 February 2023.
Romania: R&D Tax Incentive – Body of Experts for Certification of R&D Activities
Following Order no. 3265/21453/2022, to which we drew your attention in early November 2022 here, the Minister of Research, Innovation and Digitization has approved the structure of the Body of Experts enrolled in the National Register of Experts for certification of research and development activity (REXCD).
Hungary: The Concept of Golden Shares and its Historical Roots in Hungarian Law
The entire concept of golden shares can be explained in one sentence: golden shares make the adoption of certain corporate measures as well as decisions on amending certain provisions of the articles of association of a company dependent on the “yes” vote of the holder(s) of the golden shares.
Poland: Advertising Medical Devices – The New European and Polish Regulatory Framework
Medical device manufacturers, importers, and distributors are advised to prepare for an important change in European and Polish laws on advertising for medical devices. Manufacturers do not always properly supervise their distributors in creating or revising promotional materials. This lack of oversight can lead to unexpected regulatory problems, especially under recent legal amendments. Preventive measures can help companies to avoid these problems.