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A new year has begun, and the build-up of tax responsibilities and pressure has peaked and is now close to the point of reset and restart. But what does 2020 hold in store for companies active in Romania in terms of anticipated tax changes? And how can they get ready for and adapt to such amendments?

Clifford Chance Badea has advised a consortium of BNP Paribas, Citigroup Global Markets Limited, Raiffeisen Bank International AG, Societe Generale, and Unicredit Bank AG on the EUR 3 billion sovereign bond issuance by the Romanian Ministry of Finance on external markets. The Romanian Ministry of Finance was advised by Filip & Company.

Reff & Associates has successfully represented a consortium of construction companies, led by the Spanish firm Viales Y Obras Publicas SA Cuenca, in an international commercial arbitration regarding the construction of road infrastructure based on a FIDIC contract.

BPV Grigorescu Stefanica has advised Iveco Defense Vehicles, part of the CNH Industrial group of companies, on its sale of over 2900 high mobility trucks to the Romanian Ministry of National Defense for a total value of over EUR 700 million.

Filip & Company has advised RCS & RDS and Digi Communications N.V. on issuing two series of senior secured bonds with a total value of EUR 850 million. The lead arrangers included Citibank, ING Bank N.V., and UniCredit Bank S.A., and were advised by Clifford Chance Badea and Cleary Gottlieb Steen & Hamilton.

Schoenherr lawyers Pawel Halwa and Thomas Kulnigg have been promoted to Equity Partner as part of the firm's annual promotion round, and lawyers Constantin Benes, Leon Kopecky, Guenther Leissler, Laurenz Schwitzer, Manuela Zimmermann, Georgiana Badescu, Madalina Neagu, and Milos Lakovic have been promoted to Contract Partner.

The interest of foreign investors in acquiring real estate in Romania has grown significantly since the January 1, 2014 expiration of the country’s prohibition against EU citizens and businesses acquiring agricultural land. Land is available at competitive prices, compared with many other European countries, and other advantages include the facts that Romania holds an important share of the European crop land due to its grain production, has a favorable position within export routes, has high-quality soil, and has a climate suitable for a wide range of agricultural investments.

In The Corner Office we ask Managing Partners across Central and Eastern Europe about their unique roles and responsibilities. The question this time around: What was the most useful or valuable piece of software or new technology your firm has acquired in the past five years?

Reff & Associates, the Romanian member of Deloitte Legal, has opened a new regional office in Cluj-Napoca, Romania, coordinated by former Nestor Nestor Diculescu Kingston & Petersen Senior Associate Olguta Lazar.

Romanian Knowledge Partner

MPR Partners | Maravela, Popescu & Roman 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. 

MPR Partners | Maravela, Popescu & Roman 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 MPR Partners | Maravela, Popescu & Roman 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 MPR Partners | Maravela, Popescu & Roman can be found at www.mprpartners.com.

All News about MPR Partners | Maravela, Popescu & Roman can be found here.

 

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