VAT registration: Amendments related to the tax risk assessment
By Order of the ANAF President, has been modified the procedure for the assessment of the tax risk for taxable persons requesting the registration for value added tax purposes according to art. 316 par. (1) lit. a) and c) and par. (12) lit. e) of the Fiscal Code.
According to the press release of National Institute of Statistics, compared to 2017, in 2018 the turnover of market services rendered mainly to enterprises, in nominal terms, increased as gross series by 10.3%.
Continuă lectura „Turnover of market services rendered mainly to enterprises”
The European Securities and Markets Authority (ESMA) has published on 6th of February 2019 the MiFID II supervisory briefing on the supervision of non-European Union (EU) branches of EU firms providing investment services and activities. The supervisory briefing has been designed to assist national competent authorities (NCAs) in their supervision of the establishment by EU firms of branches in non-EU countries.
The European Central Bank published the Results of the December 2018 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD) on 31st of January this year.
Continuă lectura „European Central Bank – the results of SESFOD”
New fiscal and budgetary measures – O.U.G. 114/2018
O.U.G. no. 114/2018 regarding the establishment of measures in the field of public investments and fiscal-budgetary measures, the modification and completion of some normative acts and the extension of some terms published in the Official Gazette no. 1116 has a major impact on key areas such as energy security, the banking industry, the telecommunications industry, the long-term stability of private individuals’ accumulation in private pension funds, the construction industry, and interest rates on government securities.
The working group on euro risk-free rates, for which the European Central Bank (ECB) provides the secretariat, has published the paper “Guiding principles for fallback provisions in new contracts for euro-denominated cash products”.
The National Bank of Romania Board discussed and adopted the monetary policy decision, based on the data and analyses on current and future macroeconomic, financial and monetary developments submitted by the specialised departments, as well as on other available domestic and external information.
Continuă lectura „Current and future macroeconomic and monetary developments”
The European Investment Bank (EIB) is lending EUR 22.3m to Garanti Bank Romania to support businesses in Romania. EUR 5m of the loan amount is devoted to female entrepreneurs, matched by another EUR 5m from Garanti Bank. This transaction is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, or „Juncker Plan”.
Continuă lectura „First EIB loan tranche dedicated to female entrepreneurs”
Common EU rules on securitisation became effective on 1 January 2019 that will lead to more investment opportunities and increased lending to households and businesses according to European Commission’s press release.
EU agrees new rules on business insolvency
The EU is giving reputable bankrupt entrepreneurs a second chance, and making it easier for viable enterprises in financial difficulties to access preventive restructuring frameworks at an early stage to prevent insolvency.
