Advisory Newsflash

Welcom to KPMG in Romania Advisory newsflashes' page.

European Parliament adopts Commission's proposals on social security

The European Parliament recently adopted a proposal from the EU Commission which makes amendments to the modernized Social Security Coordination Regulation .

Amendment of Law 506/2004 on the processing of personal data and the protection of privacy in the electronic communications sector

Emergency Ordinance no. 13/2012, which amends and brings additions to Law no. 506/2004 was published in Official Journal of Romania.

Amendments to Company Law no. 31/1990

The Ordinance has been adopted as a result of the infringement procedure initiated by the European Commission against Romania, the pre-litigation phase.

New guidance on the application of Art. 52 of the Fiscal Code (Law no. 571/2003)

This Order aims to clarify the payment method for income tax.

ANCOM Initiates Consultation Process on Proposed Regulations for MVNOs in Romania

ANCOM has initiated a public consultation process for Mobile Virtual Network Operators (MVNOs).

Building business value in a changing world

Expect the Unexpected: Building Business Value in a Changing World

Changes to social security legislation

The agreement covers both Romanian and Israeli law in relation to old age and survivors’ insurance, invalidity insurance and child insurance.

New Draft Order on Individuals’ Tax Residence and taxation in Romania on Worldwide Income

The Draft details the forms which must be filed with the tax authorities for individuals to benefit from Article 40.

Labor legislation updates

New amendments to public procurement legislation

Government Emergency Ordinance no. 34/2006 regarding the award of public procurement contracts.

Developments in legislation on the status of foreigners in Romania

Foreigners who are not citizens of the EU, EEA or Switzerland who hold a Romanian residence permit, and who have family members who are citizens of these countries may work in Romania under the same conditions as EU/EEA/Swiss citizens.

The deadline for registering or updating information included in REVISAL has been extended

The deadline for registering or updating information included in the General Employees Register REVISAL has been extended.

Changes to legislation on the promotion system for electricity produced from renewable sources

Government Emergency Ordinance no. 88/2011 („GEO 88”) on the promotion system for electricity produced from renewable sources has been published in the Official Journal of Romania.

Amendment of the Public – Private Partnership Law

The Public-Private Partnership Law (in effect since October 2010) has been amended under Government Emergency Ordinance.

Trusts and Administration of the Property of Others under the New Civil Code

Trusts (Fiducia) Trust is a new concept introduced under the New Civil Code, regulated under Title IV of Chapter III.

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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.