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Through Innovation, a High Performance Culture, Integrity and a mission of “Cutting Through Complexity”, KPMG in Romania is ready for what we face in today’s and tomorrow’s world.

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The Romanian IFRS Institute is a resource dedicated to the implementation process of IFRS, providing useful information about the global financial reporting framework for CFOs, members of the Board, leaders and shareholders of companies.
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Welcome to KPMG in Romania Newsflashes' page.

According to a press release published last week in Hungary, starting from 1 July 2013 a new road toll will be introduced in Hungary.

Procedure for the implementation and administration of a fiscal group

Order no. 607 dated 29 May 2013, to approve the Procedure for the implementation and administration of a fiscal group, as well as to approve model and content of certain return, has been published in the Official Journal of Romania no. 345.

Legislative changes with a significant impact on renewable energy projects

Government Emergency Ordinance 57/2013 to amend Law 220/2008, on the establishment of the promotion system for the production of energy from renewable sources, has been published in the Official Journal of Romania (nr. 335/7.06.2013).

Continuous progress on sustainability reporting and external assurance of reports

The publication “Carrots and Sticks (Sustainability reporting policies worldwide – today’s best practice, tomorrow’s trends)” is a result of expert inputs from four core partners.

Higher thresholds for direct public procurement

The Draft law sets forth a number of measures whose main purpose is the adoption of an appropriate legal framework aimed at streamlining and simplifying the public procurement system.

New rules for territorial-administrative units in financial crisis

Government Emergency Ordinance no. 46/2013 on the financial crisis and insolvency of territorial-administrative units has been published in the Official Journal of Romania no. 229 of 24.05.2013.

New rules on inspection of beneficiaries financed from external non-refundable funds

Government Emergency Ordinance no. 47/2013 on measures in the field of structural funds with an impact on direct beneficiaries financed from external non-refundable funds.

Provisional anti-dumping duties on imports of solar panels originating in or consigned from China

Thus, starting from 6 June 2013 and until 5 August 2013, a provisional anti-dumping duty of 11.8% will apply on imports of solar panels originating in or consigned from China, regardless of the vendor.

Legislative changes regarding penalties for late payment and payment schedule adjustments of tax liabilities

We list below the most important changes made to the Fiscal Procedure Code and to GEO 29/2011.

More flexible short-stay visa regime for Chinese nationals travelling to Romania for business purposes

On 3 April 2013, the Romanian Government approved a Memorandum, which eases the visa regime for Chinese nationals travelling to Romania for business purposes.

Changes to the entry value of fixed assets

Government Decision to establish the minimum entry value of fixed assets has been published in the Official Journal of Romania.

Law approving GO 8/2013 published

We list below the most important changes that the law makes to the Fiscal Code and to the Fiscal Procedure Code.

Law approving GO 8/2013 adopted

The law has been passed by the Chamber of Deputies in its capacity as a decision making chamber and it brings important changes and additions to the original text of the Ordinance.

Social indicators modified

The value of meal tickets and crèche tickets have been indexed by Orders of the Ministry of Labor.

New rules on financial recovery, bankruptcy, voluntary dissolution and liquidation of insurance companies

Law no. 139/2013 on financial recovery and bankruptcy of insurance companies has been published in the Official Journal of Romania no. 260

© 2013 KPMG Romania S.R.L., a Romanian limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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.

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