The Montenegrin Secretariat for Development Projects published on their official website the Decision on Selection of Agents for the CBI program, which states that only 3 out of 22 applications were successfully submitted. The Secretariat selected the following three companies:…
The Romanian Government has adopted an emergency ordinance on 9th of November 2018 which provides for the amendment of the Labour Code. The changes introduce the definition of a minimum differentiated salary, dependent on the length of the work and…
Romania is one of the largest markets in Central and Eastern Europe with over 21 million people. Attractively located between the EU, Balkans and CIS (Commonwealth of Independent states), Romania also has a maritime door via the port of Constanta…
Romania has recently amended its classification of occupations and published it in the Official Gazette dated April 4, 2017. The National Occupations Classification (known as COR) is a legal act which defines the six digit codes assigned to each job…
The winter 2017 Economic Forecast published by European Commission argues that the economies of all EU Member States are expected to grow in 2017 and 2018, even if the growth forecasts are surrounded by higher-than-usual uncertainty. The EC expects euro…
Starting with 1st of January 2017, standard VAT rate will become 19% instead of 20%. This reduction of VAT following the previous decrease in 2016 from 24% to 20% for standard VAT rate together with reduced rates of 9% and…
Companies using secondment as a method of employee mobility should be familiar with the provisions of Government Emergency Ordinance no. 28/2015 (GEO no. 28/2015) for amending and supplementing Law no. 344/2006 regarding the secondment of employees in the framework of…
Romania/December 2015 During recent years, Romania has achieved significant macroeconomic development, further sustained by programs and arrangements with the IMF, European Union and the World Bank. Per IMF’s reports following the visit in October 2015, the key priorities should focus…
Romania/October 2015 The new Romanian Fiscal Code introduces a number of amendments which impact companies in a wide range of tax aspects. Below we discuss some of the introduced changes. The categories of entities exempted from corporate income tax is…
Romania/September 2015 The Romanian Government has recently imposed new procedures for VAT registration, in an attempt to prevent VAT fraud and limit the registration of companies that are set-up exclusively as VAT vehicle purposes. Starting with February 1, 2015, companies…