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While 2017 was characterized by various fiscal changes, experiments, and abandoned proposals, the tax landscape at the end of 2018 underpins the competitive edge of Romania in the region. Still, there are reasonable threats with regard to the predictability of the tax system, considering the current macroeconomic trends and the budgetary constraints faced by the Romanian government.

Joerg Menzer is a German citizen based in Bucharest, where he coordinates Noerr’s CEE practice for international clients. He specializes in M&A transactions and concentrates on structuring major foreign investments and business expansion projects in CEE.

The Deal:  In July 2018, CEE Legal Matters reported that Reff & Associates had advised Dutch shipbuilding group Damen on its take-over of Daewoo Shipbuilding & Marine Engineering Co Ltd.’s participation in Romania’s Daewoo Mangalia shipyard. DSME was advised by CMS. The yard, which was renamed the Damen Shipyards Mangalia, is now operated as a joint venture with the Romanian Government, with Damen assuming operational control. We reached out to both firms for more information.

In the context of the ever-changing labor market general framework, in 2018 Romania took decisive steps to align its legislation with the country’s economic landscape.

The Vouchers Directive, which regulates the VAT treatment of vouchers across the EU Member States, was agreed upon by the Council of the EU in 2016, and caught the attention of Romanian authorities, tax advisors, and businesses at the end of 2017. Together with other Member States, Romania must design and enforce an appropriate legal framework to ensure the application of the Directive starting in 2019.

Deloitte Legal has been registering impressive growth in the CEE region. CEE Legal Matters sat down with Andrei Burz-Pinzaru, Head of Deloitte Legal in Central Europe, to learn more about what fueled the development of Deloitte’s legal services function and what the firm’s plans are for the future.

Law firm spin-offs are a familiar phenomenon in CEE. To find out what challenges lawyers have to deal with when they leave established firms to start new ones in the current climate, CEE Legal Matters sat down with several partners who have done just that to get their perspectives on the process.

1999 was the year I started my career as an attorney, as a young graduate from the law school at Bucharest University, just accepted to the Bucharest Bar. Times then were so much different than today, and as 20 years have gone by, I look at what those years have meant for Romania and for me, and how much things have changed for the country I continue to live in and build my personal and professional life in.

Adina Calfa-Dudoiu is Legal Director at Rosia Montana Gold Corporation S.A., the gold mining project of Canada’s Gabriel Resources in Romania. Before joining RMCG in February 2017, she spent three years as Legal Director of UPC Romania, and another ten in private practice with CMS.

Of the five types of corporation that may be established under Romanian law, joint stock and limited liability companies continue to be the most common. Recent statistics show that almost 1 million companies are active in Romania, of which approximately 800,000 are limited liability or joint stock companies. Further, the number of limited liability companies is reportedly double that of joint stock companies.

We aim to analyze herein the implications of a long-term activity performed by a data protection officer (DPO) answering to questions including: Can the data protection officer, whether employed or outsourced, be sanctioned when it is established that the company is in breach of data processing rules? If yes - when, by what means and to what extent?

Romanian Knowledge Partner

Maravela & Asociații is an internationally recommended and repeatedly awarded Romanian law firm providing integrated legal, tax advisory and insolvency services in all areas of interest for businesses and public administration. 

Maravela & Asociații covers all major Romanian regions as well as the Republic of Moldavia, either directly or through carefully selected and closely coordinated correspondent offices. In addition, the firm has the infrastructure required to coordinate advice in multiple countries through highly reputed international networks of specialists ensuring high end services. 

Firm’s clients (multinational corporations, sound Romanian companies, private investors, public authorities and State companies) recommend Maravela & Asociații as “A reliable team providing a high standard of work.” (quote by Chambers and Partners), having consistently endorsed the outstanding quality of services provided, flexible approach, responsiveness as well as the friendly working climate. 

More client feedback and further information on Maravela & Asociații can be found at www.maravela.ro.

All News about Maravela & Asociatii can be found here.

 

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