Govnet

Sonaca Aerospace gets 8.5 million Euro loan from EBRD for Romanian plant

Belgian aerospace company Sonaca signed an 8.5 million Euro loan with the European Bank for Reconstruction and Development for the expansion of the production facility on Romania. The plant, located in Cluj county, will produce wing components for aircraft manufacturers such as Airbus and Embraer. The new plant will be completed in two years.

Sonaca Aerospace company, is an 80 year old group operating in the areas of development, manufacturing, assembly and testing of aerospace metallic and composite structures and their associated systems, managed to also get state aid funds totaling 5,4 million EUR in mid September 2015, in order to open the new facility in Romania.

General

NNDKP announces a strategic alliance with Transfer Pricing Services

NNDKP and TPS announces a strategic partnership in a time when intra-group transactions have become one of the "hottest" areas of taxation.

Started as an initiative of the G8 and further developed by the OECD, the Action Plan against BEPS will determine the most likely changes in tax legislation concerning the business models of groups of companies, focusing on the economic content of transactions and prices that of transactions between affiliates.

General

Undeclared incomes of wealthy Romanians discovered by ANAF

Following a campaign to track down undeclared income of wealthy Romanians, the National Agency for

Fiscal Administration (ANAF) found almost 87 million lei that will be

subject to taxation. The 336 individuals checked, each with

an estimated wealth of over 20 million euro per person were unable to

prove the legit source and taxed money.

General

The 2016 budget, the first challenge of the new government

Romania's budget for next year drafted by the former Ponta government is built on a deficit of 2.95 percent of GDP and 2.8 percent in cash, based on an economic growth of 4.1percent , fueled by mainly by consumption and investments, while GDP was estimated at 746.6 billion lei. The annual average inflation is forecast at 0.5 percent and the average rate at 4.44 lei / euro.

General

In 2014 there were twice as Many Postal Parcels Processed as in 2013

According to the Statistical data report on the 2014 postal services marketpublished by ANCOM, 2.3 times more postal parcels were processed in Romania last year, compared to 2013, 90% of which were processed by private providers. The total postal traffic kept a moderately growing trend in 2014, registering an increase by more than 10%, i.e. exceeding 600 million items. Out of these, over 95% were processed by the universal service provider and by other ten large volume private operators