Legal Bulletin – Cybersecurity

Establishing a framework for cybersecurity of networks and IT systems in the civilian national cyberspace The Emergency Ordinance establishing a framework for cybersecurity of networks and IT systems in the civilian national cyberspace (the “Ordinance”) was published in the Official Journal of Romania, Part I, No. 1332 of 31 December 2024. The legislative act entered into force on the same date, with the exception of a small number of provisions which entered into force after the publication of the Ordinance in the Official Journal of Romania. The Ordinance imposes a number of new cybersecurity rules on important and critical activity sectors, incident reporting and management mechanisms and a number of sanctions for non-compliance with the obligations set out in such legislative act. The purpose of the Ordinance is to reduce…Read More →

Fiscal Bulletin - New fiscal and budgetary measures to ensure Romania's long-term financial sustainability

Law no. 296/2023 on some fiscal and budgetary measures to ensure Romania's long-term financial sustainability was published in the Official Gazette no. 977/27.10.2023. Relevant highlights: Tax measures: • Minimum turnover tax; • Additional tax for credit institutions; • Additional tax for companies operating in the oil and gas sectors; • Microenterprise tax; • Income tax; • Social security contributions; • Special tax on immovable and movable property of high value; • VAT; • Excise duties. Measures to strengthen financial and fiscal discipline: • General implementation of RO e-Invoice system • Implementation of RO e-Seal system. Measures to ensure tax compliance: • Measures to prevent and combat illegal economic activities; • Strengthening financial discipline and combating tax evasion; • Elimination of the possibility to pay half of the minimum fine. To…Read More →

Legal Bulletin - ECJ Ruling on the Register of Beneficial Owners

The European Court of Justice (“ECJ”) was called to render a preliminary ruling on the compatibility between Article 30 par. (5) of Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (“AMLD IV”) which grants free access to information in the Register of beneficial owners to any member of the general public and the provisions of the Charter of Fundamental Rights of the European Union concerning respect for private and family life (Article 7) and protection of personal data (Article 8). Article 30 par. (5) of AMLD IV initially provided that access to the Register of beneficial owners is granted to any person or organisation that can demonstrate a legitimate interest. This provision was later amended by…Read More →

Legal Bulletin - Commercial Law

Legal Bulletin - Gambling Law

Fiscal Bulletin - Important amendments brought to the Fiscal Code

Legal Bulletin - Commercial Law - Preventing and Combating Money Laundering

Legal Bulletin - Consumer Protection - The “New Deal for Consumers” Initiative

Legal Bulletin - Competition Law - Unfair trading practices in business-to-business relationships in the agricultural and food supply chain

Fiscal Bulletin - CJEU Ruling on the Concept of Fixed Establishment for VAT Purposes