Guvernul acordă bonificații pentru plata unor obligații fiscale și prorogă unele termene de depunere prin OUG 69/2020 adoptată recent

Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Ordonanța de urgență nr. 69/2020 prin care Guvernul acordă bonificații pentru plata unor obligații fiscale, prorogă unele termene, precum și alte măsuri…

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COVID 19: Brief guidance for employers during the state of alert

Starting with 15th of May 2020, the state of emergency was replaced with the state of alert in Romania. Therefore, while the legislative context in continuous change is still imposing protective measures, the Romanian Government is looking to gradually relax the lockdown measures.   1. Measures impacting employment relationships  (i) Employees must consent for telework.…

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(Română) Concordatul preventiv – mecanism de salvgardare a companiilor afectate financiar de Covid-19

Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Autori: Mihai Popa, Deputy Managing Partner și Diana Dobromir, Senior Associate   Epidemia cauzată de coronavirus a provocat tulburări majore pentru economia…

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EDPB Adopts Further Covid-19 Guidelines on Geolocation and the Processing of Health Data

On 21 April, within its Plenary Session, the European Data Protection Board (EDPB) adopted two essential guidelines on the major data processing activities performed in the context of the Covid-19 pandemic: Guidelines 04/2020 on the use of location data and contact tracing tools in the context of the COVID-19 outbreak  (Guidelines 04/2020) and Guidelines 03/2020…

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Covid-19: Economic measures covering the banking and financial sector

Covid-19: Economic measures covering the banking and financial sector. Facilities in relation to loans granted by credit institutions and non-banking financial institutions to certain categories of borrowers The National Bank of Romania (the “NBR”) issued a press release on 24 March 2020, pursuant to which the current regulations allow the borrowers, banking and non-banking institutions,…

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The statement regarding the ultimate beneficial owner of a company in the context of the state of emergency in Romania – clarifications regarding the obligation to submit it

According to Law no. 129/2019 for the prevention and combating of money laundering and terrorism financing, as well as for the amendment and completion of some normative acts (“Law 129/2019“), companies have the obligation to submit, at the moment of registration, annually or whenever a change occurs, a statement regarding the actual beneficial owner of…

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New measures impacting certain categories of workers and professionals during the emergency state

Through the Military Ordinance no. 8/2020 published in the Official Gazette no. 301 on 10th of April, 2020, there were instituted a new series of measures to prevent the spread of COVID-19, which directly envisage certain categories of workers and/or professionals, as presented below.   (i) Exceptions from the circulation restriction during the emergency state…

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Coronavirus Legal Updates – Digitalization of Romania

In the context of the COVID-19 epidemic, the Government of Romania has come to support its citizens and public institutions, through the Authority for Digitalization of Romania, in partnership with Aurachain, the Association for Advanced Technologies – ATA, BitHat Solutions and Telekom Romania by launching a digital platform, namely “https://aici.gov.ro/”. The objective of the newly…

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Coronavirus: One Stop Shop for helping companies to request a Certificate for Situation of Emergency (CSE)

As the new Coronavirus continues to threaten our lives, the nation-wide heavy restrictions continue to disrupt our livelihoods and businesses need to address the economic challenges they face: significant pressure on their workforce, business partners, supply chains, revenues.  As part of the Romanian’s Government plan to aid heavily hit businesses during the economic near shutdown,…

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(Română) CORONAVIRUS: UPDATE – NORMELE DE APLICARE VIZÂND FACILITĂȚILE ACORDATE DE GUVERN ANUMITOR CATEGORII DE DEBITORI, CONFORM OUG NR. 37/2020

Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. În Monitorul Oficial nr. 285/06.04.2020, Guvernul a publicat H.G. nr. 270/02.04.2020 prin care a aprobat normele de aplicare a prevederilor OUG nr.…

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Coronavirus: Discounts for certain tax payers and VAT exemptions for companies importing medicines and protection equipment are the most recent implemented fiscal measures

In order to stimulate the payment of the outstanding fiscal obligations and taking into account the need to provide medicines, protective equipment, other medical devices or equipment and sanitary materials that can be used to prevent, limit, treat and combat COVID-19, the Romanian Government has adopted the Government Emergency Ordinance no. 33 from 26.03.2020 regarding…

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(Română) CORONAVIRUS: FACILITĂȚILE ACORDATE DE GUVERN ANUMITOR CATEGORII DE DEBITORI PRIN OUG NR. 37/2020

Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Guvernul a adoptat Ordonanta de Urgență nr. 37/2020, publicată în Monitorul Oficial, Partea I nr. 261 din 30 martie 2020, aceasta intrând…

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CORONAVIRUS CONSUMER PROTECTION: PRICING ISSUES AND REFUNDS FOR TRAVEL CANCELLATIONS

Consumer protection authorities are on high alert: Companies under intense scrutiny on pricing issues  As consumer demand for various products increases, fueled by the Coronavirus outbreak, so could prices.  The National Authority for Consumer Protection stressed that they are closely monitoring the Romanian market and that they created special teams to prevent any actions that…

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Coronavirus: Real Estate Update

1. Urgent legal measures requiring enforcement in the construction field Having in view the constraints and economic implications expected to affect the construction field as a result of the current COVID-19 pandemic crisis, the Employers’ Federation of Building Companies – FPSC – has requested the Romanian Government to undertake urgent legal measures for the benefit…

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CORONAVIRUS: CERTIFICATES REGARDING THE STATE OF EMERGENCY. HOW CAN COMPANIES OBTAIN THEM?

CORONAVIRUS: CERTIFICATES REGARDING THE STATE OF EMERGENCY. HOW CAN COMPANIES OBTAIN THEM?   In these unprecedented, difficult times, the Romanian Government and businesses are working together to address the economic challenges of the strict containment restrictions put in place to limit the spread of the Coronavirus.  As part of the Government plan, the Ministry of…

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Coronavirus: Government aids small and medium enterprises (SMEs) with multiannual program

Coronavirus: Government aids small and medium enterprises (SMEs) with multiannual program According to the Government Emergency Ordinance no. 29/2020 regarding certain economic and fiscal-budgetary measures, the Ministry of Public Finance will implement a multi-annual program for supporting the SMEs in order to mitigate the effects of the COVID – 19 spread, by guaranteeing loans and…

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(Română) Coronavirus: operatorii economici a căror activitate este afectată vor putea beneficia, la cerere, de Certificate de Situaţie de Urgenţă, eliberate de Ministerul Economiei, Energiei şi Mediului de Afaceri

Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. Activitatea multor operatori economici este afectată în contextul pandemiei SARS-CoV-2. Conform prevederilor unei noi Hotarari de Guvern, acestora li se pot elibera,…

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(Română) Aspecte legale de interes pentru companiile din România în contextul răspândirii rapide a virusului COVID-19

Sorry, this entry is only available in Romanian. For the sake of viewer convenience, the content is shown below in the alternative language. You may click the link to switch the active language. București, 12 martie 2020  Dată fiind rapiditatea răspândirii virusului COVID-19 inclusiv în România, este important ca profesioniștii locali să aibă în vedere…

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Mușat & Asociații advised EBRD on the Euro 16 million financing to TeraPlast Group, to support its expansion in Romania and the CEE region

Leading Romanian law firm Mușat & Asociații acted as legal counsel to the European Bank for Reconstruction and Development (EBRD) on a Euro 16 million facility granted to TeraPlast Group, one of the leading Romanian producers of materials for installation, construction and design markets.   The senior loans granted by EBRD will finance the implementation of…

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Mușat & Asociații Promotes Nine Lawyers in New 2020 Round, Including One Partner

Bucharest, 21 January 2020  Mușat & Asociații announces the promotion of nine lawyers across the firm’s Mergers & Acquisitions, Healthcare & Pharma, Taxation and Litigation & Arbitration practice areas, effective as of January 2020. The promotions come as a recognition of their constant contribution to the success of the projects they advised on and of…

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Iulian Popescu speaks on Energy Prospects in The Black Sea Region up to 2030 panel at the Power & Energy Tech Exhibition and Conference Vision 2030 – PETEC 2019

Iulian Popescu, Deputy Managing Partner and head of Musat & Asociatii’s Energy & Natural Resources practice, spoke at the Power & Energy Tech Exhibition and Conference Vision 2030 – PETEC 2019 on 2 December 2019. The role of natural gas and renewables in a fast-evolving energy market towards achieving the 2030 Agenda and the Sustainable Development Goals was the main theme…

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Mușat & Associații advises Spectrum Brands Unit on the $2 billion sale of its lightning business to Energizer

Bucharest, 18 January: Mușat & Asociații is part of the legal team advising Spectrum Brands Unit, a $5 billion consumer products company, in connection with the $2 billion sale of its global battery and portable lightning business to Energizer Holding Inc., one of the world’s largest manufacturers of primary batteries and portable lighting products. The…

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Mușat & Asociații alongside Spectrum Brands Holdings at the completion of the sale transaction of the battery division and the lighting equipment to Energizer for $2 billion

Spectrum Brands Holdings Inc. has successfully completed the sale of its battery and lighting equipment business to Energizer Holdings Inc., once all the necessary conditions and regulations have been fulfilled. The agreement worth $2 billion in cash was completed in early January 2019. As imposed by such a large transaction, the involved parties received first-class…

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The criminal law team of Mușat & Asociații law firm obtains the final acquittal of Ludovic Orban in a corruption file

The criminal law team of Muşat & Asociaţii law firm has definitively won the litigation before the High Court of Cassation and Justice, where Ludovic Orban, the chairman of the main opposition party has been accused by the DNA (the National Anticorruption Directorate) of committing the offence of using his influence for obtaining some undue…

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Mușat & Asociații alongside the investment fund Penta Investments in the largest transaction of 2017 in the pharmaceutical industry

Bucharest, 11 January 2018: Mușat & Asociații advised Penta Investments, a Central European investment fund, on the acquisition of A&D Pharma by Dr.Max, one of the biggest pharmacy chains in CEE, owned by Penta Investments The value of the transaction has not been disclosed by the parties involved and shall be completed after the approval…

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Muşat & Asociaţii: “Reverse charge – an efficient fiscal measure to reduce VAT evasion”

Reverse charge is an exceptional procedure simplifying the collection and deduction of value added tax (VAT), aspects raising various issues in day-to-day accounting practice, having significant implications at the cash-flow level of companies. “Applying reverse charge for certain types of activities represents a necessity having 2-way benefits. On the one hand, it significantly contributes to…

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Musat & Asociatii assists Farmexim during an investigation closed by the Competition Council without the levying of any sanctions

Musat & Asociatii has successfully represented Farmexim, one of the leading pharmaceuticals importers and distributors on the local market, during an extensive investigation which involved all the major distributors in Romania. The investigation was initiated by the Competition Council following the decision of pharmaceuticals distributors to stop the delivery of medicines to pharmacies and hospitals…

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Musat & Asociatii offered assistance in connection to the 15% sale offer of Transelectrica’s shares on the stock market

The secondary sale of a 15% stake package in Transelectrica was a long-awaited moment on the market, by both investors and international financial institutions. Musat & Asociatii was directly involved in this high-profile project, advising the Office of State Privatization and Industry (OPSPI) ever since the project’s commencement in March 2011. Our mandate included the…

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Muşat & Asociaţii: July 1st brings an increase in social security charges payable by freelancers

The New Fiscal Code brings forth important amendments concerning the applicability of social security charges applicable to agreements concluded with freelancers, the most important of which aims directly at the applicability of the full quota to revenues which are not subject to withholding taxes. “A full quota of 31.3% for social security contributions, approximately 20%…

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Musat & Asociatii leads the IFLR rankings in Mergers and acquisitions, Banking and Project finance

Muşat & Asociaţii continues to lead the IFLR 1000 (International Financial Law Review 1000) rankings in Mergers and acquisitions, Banking and Project finance, being also recommended for its activity in Capital markets. “IFLR 1000 rankings are one of the most renowned and appreciated world-wide and our constant presence in the top tier honours us and…

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Miruna Suciu (Muşat & Asociaţii): Financing is more accessible in the field of hydro energy

Methods of improving the hydro energy potential, solutions of promoting the production of electricity from hydro sources, as well as the opportunities and obstacles in promoting hydro energy from a technical, economic, financial and legal point of view, were some of the themes discussed during the “Renewable Energy Resources – Capitalizing the Hydro Energy Potential…

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The lack of a consistent strategy in the forestry industry blocks major investments

Muşat & Asociaţii and the Forest Owners Association of Romania PROFOREST have recently organized the roundtable “Sustainable Forestry – a Green Challenge?”, which brought into discussion current issues concerning the Romanian forest industry and development opportunities of the forest sector on the local market. „A large number of corporations with a vast experience and proven…

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Musat & Asociatii continues its tradition of supporting law school students by Business Law Career Day programme

Musat & Asociatii continues its tradition of promoting and supporting the training of young professionals by Business Law Career Day programme aimed at organizing annual meetings with law school students in order to bring into light useful aspects concerning the vocation of the future graduates. The first discussions with the students have recently taken place…

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Musat & Asociatii, winner of “Romania Law Firm of the Year” at the “Chambers Europe Awards for Excellence 2011” ceremony

Musat & Asociatii has been distinguished by the renowned legal guide Chambers Europe with the prestigious award “Romania Law Firm of the Year” at the “Chambers Europe Awards for Excellence 2011” ceremony, due to its remarkable performance on the local legal market in the past year. The award follows another noteworthy recognition recently received by…

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The Credit Bureau and Muşat & Asociaţii organized the seminar “Processing Risk Information within The Credit Bureau. Projects and Legal Solutions”

The Credit Bureau and Muşat & Asociaţii organized the seminar “Processing Risk Information within The Credit Bureau. Projects and Legal Solutions”, which brought into discussion the operational and regulatory aspects of risk information processing. The event gathered more than 50 representatives of the banking system and addressed key issues related to the Credit Bureau system,…

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Musat & Asociatii sponsored the first edition of “Masquerade Charity Ball”, organized by S.O.S Satele Copiilor

Committed to its tradition of more than 20 years in supporting, by means of sponsorship, genuine social initiatives, Musat & Asociatii sponsored the first edition of the Masquerade Charity Ball, organized by S.O.S Satele Copiilor. The charity ball took place on 9th of April, at Bragadiru Palace, gathering more than 100 notable cultural figures, businessmen…

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Anca Buta Muşat, awarded for the second consecutive year in Competition by International Law Office

Anca Buta Muşat, Partner with Muşat & Asociaţii, has been distinguished for the second consecutive year with International Law Office (ILO) Client Choice Awards, due to her long-established expertise in competition law, being the sole Romanian Lawyer awarded in this practice area. “Musat & Asociatii’s competition practice has seen a continuous development in recent years,…

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