Legal News
March 26, 2014 15:45
Earlier this week, the Department of Energy within the Ministry of Economy released a draft resolution through which the cogeneration tax paid by electricity exporters will be eliminated. By this initiative, the Government aims to stimulate electricity exports of domestic producers in an attempt to turn Romania into a major electricity supplier in Central and South-Eastern Europe regions....more »
March 18, 2014 09:20
Following the latest disputes in the green energy sector caused by uncertainty and lack of predictability concerning regulations, situation also affecting large industrial companies, Traian Basescu has eventually promulgated the law that approves the Emergency Government Ordinance no. 57/2013 and which includes amendments to the Law no. 220/2008 establishing the support-scheme for renewable energy producers. The new law was published in the Official Gazette of Romania on March 14....more »
February 27, 2014 15:32
When everything was supposed to get back to normal in the green energy market and the law approving the Emergency Governement Ordinance no. 57/2013 be eventually promulgated after both chambers of the Romanian Parliament rejected the re-examination call President Traian Basescu made, he requested the Constitutional Court (CC) to declare it unconstitutional. The grounds are the same as when he asked the Parliament to review it: it does not comply with the requirements of the EU Commission with respect to the prior informing needed before implementing such changes....more »
February 11, 2014 15:31
Both chambers of the Romanian Parliament rejected the request of the President Traian Basescu for re-examining the ordinance no. 57/2013 which sustains the law related to the support scheme for green energy producers. While yesterday the Senate decided to not consider Basescu’s suggestion, today, the Chamber of Deputies, the decision-maker in this case, took the same position, rejecting his call. ...more »
January 08, 2014 11:28
Romania’s President sent back to the Parliament the law with respect to the support scheme for renewable energy producers for re-examination, a press release of the Presidency announces....more »
December 17, 2013 11:21
Romanian Government will cut the quota of green certificates as per the support scheme for renewable energy producers, starting January 1, 2014, according to a Government Decision published by the Official Gazette of Romania. Hence, the wind energy producers will get 1.5 green certificates for each MW on energy supplied to consumers, whereas they currently receive two green certificates. The same decision stipulates, though, that the new established quota will be effective only by the end of 2017, as from 2018 on, there will be applied a new diminution by 0.25, thereby there will remain 1.25 green certificates per MW for wind energy....more »
November 21, 2013 11:39
Amendments to the Fiscal code starting with 1 January 2014By Theodor Artenie, Managing Director Schoenherr Tax Bucharest Government Emergency Ordinance no. 102/14.11.2013 (GEO 102/2013) was published in Romania’s Official Gazette no. 703 of 15.11.2013 and it amends the provisions of Law 571/2003 regarding the Fiscal code, as subsequently amended and supplemented.The most important amendments that will come into force starting with 1 January 2014 are:Title II – Profit tax ·         Taxpayers can now opt for a fiscal year different from the calendar year, in certain conditions. New provisions regarding the tax reporting and payment obligations are introduced accordingly.·         Revenues from dividends, sale of participation titles or liquidation of the companies in which taxpayers hold participations are non-taxable revenues, if the following conditions are met:o    The legal entity which is the source for the respective revenues (i.e. the legal entity which distributes the dividends, or the legal entity whose participation titles are sold or which is subject to liquidation) is established in Romania or in a state with which Romania has a double tax treaty in place; and...more »
November 04, 2013 11:46
Increasing productivity and improving cost efficiency are common objectives for most companies, being at the same time a real challenge given the sustainable development issues that must be considered as well as the stricter regulations imposed by the environmental law....more »
October 02, 2013 17:01
The OPCOM trading platforms will be available to foreign gas producers once the energy law no. 123/2012 will be modified. Romanian Government will send the Parliament a draft law in this regard, most likely in October, in order to upgrade it as per the EU Rules, according to Romanian Minister of Energy, Constantin Nita....more »
September 25, 2013 16:58
by Theodor Artenie, Managing Director Schoenherr Tax BucharestGovernment Emergency Ordinance no. 88/2013 regarding the adoption of fiscal-budgetary measures for fulfilling certain commitments agreed with international organizations and amending and completing certain normative acts, published in Official Gazette of Romania, Part I brings a series of amendments regarding the social health insurance contribution....more »
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