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Legislative Newsletter August 2016

Order no. 2011/2016 of the President of the National Agency for Fiscal Administration approving the Procedure for registration, upon request, for VAT purposes, according to the provisions of art. 316 (2) of Law no. 227/2015 on the Fiscal Code, as well as the model and the content of certain forms was published in the Official Gazette, Part I, No. 589 of 3 August 2016.

  • This Oder brings under regulation the procedure of re-registration, upon request, for VAT purposes, pursuant to the annulment of the initial registration;
  • The model and the content of several forms are approved (e.g. “Decision concerning the registration for VAT purposes, according to the provisions of art. 316 (12) of Law no. 227/2015 on the Fiscal Code, such as further amended and supplemented”).

Order of the President of the National Agency for Fiscal Administration no. 2012/2016 approving the Procedure for amending, ex officio, the fiscal vector on the VAT, as well as the model and the content of certain forms was published in the Official Gazette, Part I, No. 592 of 3 August 2016.

  • This normative act brings under regulation the procedure of ex officio registration on VAT purposes;
  • When a taxpayer meets the conditions for registration for VAT purposes and such did not request the registration, it is notified by the fiscal authority, thus having the obligation to be present at the headquarters of the fiscal authority in order to submit the declaration for recording/filing of documents for registration for VAT purposes or to submit documents ascertaining that it does not have the obligation to be registered, within maximum 15 days as of the date of the notification receipt;
  • A challenge may be filed with the fiscal authority against the decision of ex officio registration for VAT purposes, within 45 days as of communication of such decision.

Order no. 838/2016of the minister of economy, commerce and business environment approving the Procedure for implementing the de minimis aid scheme provided by START Program for developing entrepreneurial abilities among young people and facilitating their access to funding was published in the Official Gazette, Part I, No. 595 of 4 August 2016.

  • START program for developing entrepreneurial abilities among young people and facilitating their access to funding is a program intended to motivate and stimulate the setting-up and development of small and medium enterprises;
  • The main objective of the de minimis scheme is stimulating the setting-up of new small and medium enterprises, improving the economic performances of the existing ones, increasing the potential to access the funding sources and developing the business competences of the entrepreneurs with the purpose of involving them in private economic structures.

Order no. 839/2016 of the minister of economy, commerce and business environment approving the Procedure for implementing the de minimis aid scheme provided by the Program for stimulating the setting-up and development of microenterprises by start-up entrepreneurs was published in the Official Gazette, Part I, No. 597 of 5 August 2016

  • By this program, certain facilities are granted to newly set-up micro-enterprises, led by debutant business persons, which for the first time carry out economic activity by means of a start-up limited liability company (Romanian SRL-D), the details and the conditions for granting these facilities being provided;
  • This normative deed includes the eligibility criteria to register start-up limited liability companies, as well as the conditions to be met by the debutant entrepreneur in order to fit into the Program.

Order no. 2328/2016 of the President of the National Agency for Fiscal Administration amending Order no. 3.769/2015 of the President of the National Agency for Fiscal Administration on declaring the deliveries/services and acquisitions carried out on the national territory by the entities registered for VAT purposes and on approving the form and the content of the informative statement on deliveries/services and acquisitions carried out on the national territory by the entities registered for VAT purposes was published in the Official Gazette, Part I, No. 601 of 8 August 2016

  • According to this this normative deed, form (394) – “Informative Deed on the deliveries/supplies and acquisitions performed on the national territory by the persons registered for VAT purposes” is submitted with the competent fiscal authority until, inclusively, the 30th of the month following the reporting period.

Order no. 1376/2016 of the minister of public finance on the types of fiscal receivables that may be paid by credit cards using the online system, by means of the National Electronic Payment System, was published in the Official Gazette, Part I, No. 614 of 10 August 2016

  • This Order approves the type of fiscal receivables that may be paid by credit cards using the online system (e.g. the social insurance contribution owed by the employer; the social security contribution for labor accidents and occupational diseases).

Order of the President of the National Agency for Fiscal Administration no. 2393/2016 establishing the criteria for conditioning the registration for VAT purposes, approving the Procedure on the registration for VAT purposes, according to art. 316 (2) e) of Law no. 227/2015 on the Fiscal Code, of the taxable entities, companies, with business registered office in Romania, set up according to the Companies Law no. 31/1990, subject to registration with the Trade Register, and approving the procedure for ex officio annulment of the registration for VAT purposes, according to art. 316 (11) h) of Law no. 227/2015 on the Fiscal Code, of taxable entities, companies, with business registered office in Romania, set up as per the provisions of Companies Law no. 31/1990, subject to registration with the Trade Register, which do not account for the intention and the capacity to carry out economic activities involving operations within the VAT applicability area, was published in the Official Gazette, Part I, No. 629 of 17August 2016

  • By means of this normative deed, certain regulations on the criteria for conditioning the registration for VAT purposes are introduced , as well as on re-registration for VAT purposes further to annulment of the registration due to the fact that the taxable person did not justify the intention and the capacity to carry out economic activities, and on ex officio annulment of the registration for VAT purposes due to the failure to justify the intention and the capacity to carry out economic activities.

Order no. 919/2016of the Minister of Health supplementing annex no. 1 to Order no. 810/2015 approving the maximum prices of the medicinal products used/traded by the health services and medicinal products providers which have a contractual relationship with the Ministry of Health, the health insurance houses and/or with the county and Bucharest public health departments, included in the National Catalogue of Medicinal Products for Human Use Authorized for Marketing in Romania and their generic reference prices was published in the Official Gazette, Part I, No. 589 of 3 August 2016

  • This normative deed introduces a new position within annex no. 1 to Order no. 810/2015 approving the maximum prices of the medicinal products used/traded by the health services and medicinal products providers which have a contractual relationship with the Ministry of Health, the health insurance houses and/or with the county and Bucharest public health departments, included in the National Catalogue of Medicinal Products for Human Use Authorized for Marketing in Romania and their generic reference prices.

Order no. 921/623/2016 of the Minister of Health and of the President of the National Health Insurance House amending and supplementing appendix no. 2 to Order no. 1.605/875/2014 of the Minister of Health and of the President of the National Health Insurance House approving the calculation method, the list of trade names and the settlement prices of the medicinal products granted to sick persons as part of the national health care programs, and the calculation method of such was published in the Official Gazette, Part I, No. 603 of 8 August 2016

  • This normative deed supplements and amends appendix no. 2 to Order no. 1.605/875/2014 of the Minister of Health and of the President of the National Health Insurance House approving the calculation method, the list of trade names and the settlement prices of the medicinal products granted to sick persons as part of the national health care programs and the calculation method of such (e.g. as regards the “National Program for diabetes mellitus”, “Pharmaceutical treatment of persons suffering from diabetes mellitus”, positions 120 and 122 are repealed).

Government Decision no. 552/2016 amending and supplementing the annex to the Government Decision no. 720/2008 approving the List of international non-proprietary names corresponding to medicinal products which the insured persons benefit of, with or without personal contribution, based on medical prescription, within the health insurance system, as well as of international non-proprietary names corresponding to the medicinal products which are granted under the national health insurance programs was published in the Official Gazette, Part I, No. 607 of 9 August 2016

  • This normative deed amends the positions included in the sub-lists of the annex to the Government Decision no. 720/2008 approving the list comprising the international non-proprietary names corresponding to medicinal products which the insured persons benefit of, with or without personal contribution, based on medical prescription, within the health insurance system, as well as the international non-proprietary names corresponding to the medicinal products which are granted under the national health insurance programs.

Order no. 931/2016 of the Minister of Health amending and supplementing the technical Norms for carrying out the public national health programs for the years 2015 and 2016, approved by Order of the Minister of Health no. 386/2015 was published in the Official Gazette, Part I, No. 625 of 16 August 2016

  • An important amendment introduced by this order concerns the budget for the public national health programs approved for the year 2016.

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Partner Ionut Bohalteanu is a registered member of the Romanian Chamber of Tax advisers – the foremost member institution for tax advisers in the country. A highly respected tax adviser, he is equally proficient providing standalone tax advice, or on the tax elements of a large transaction. Most of his clients are international and come to him for standalone tax advice, as evidenced in the work matters detailed here.
Our team provides innovative solutions to real estate issues for overseas and domestic clients alike. Able to assist with evert stage of a property deal, there are strong synergies between our real estate, corporate and banking and finance practices. Our comprehensive knowledge of the Romanian property market has served our clients well and we are natural choice for any company in possession of, or seeking to acquire, real estate assets in the country.Please click here to see what our recent experience includes.
Partner Silvia Sandu is one of the foremost privacy and data protection experts in Bucharest, amply demonstrated by the experience detailed here.
BSMP has acted in some of the most important inbound Romanian transactions for international clients as well as in some of the most important domestic deals. Equally efficient on the buy or sell-side, our experience includes negotiating mergers, demergers and joint ventures with particularly robust expertise in the regulated sectors, particularly energy, where our knowledge of the complicated Romanian regulatory regimes comes into its known.The firm has also acted in the privatization of some of the most important Romanian companies with partner Ionut Bohalteanu being a recognized leader in the field.Please click here to see what our experience includes.
Partner Silvia Sandu is a leading healthcare and pharmaceuticals lawyer, having assisted a host of multinationals with their Romanian operations for a number of years.Please click here to see what her experience includes.
The firm’s energy expertise is market leading and it is one of our core sector focuses. We have acted for a raft of multinational companies in some of the most important inbound Romanian energy transactions. Our diverse sector experience has seen us leading on major oil and gas, power and renewables projects, as well as in developing, niche fields such as mini hydro power plants and solar technology. We are able to assist our energy clients with the full life-span of a project from inception to completion, and with post-completion issues including disputes.Please click here for a summary of our team’s first-class recent experience.
Our employment client roster is comprised almost entirely of multinationals, for whom we have achieved success in a huge range of matters from cross-border redundancies and unfair dismissal claims to resolution of non-compete and high-level confidentiality issues. Practice head Silvia Sandu also has some of the foremost life sciences sector expertise in the market, as demonstrated below.Please click here to see what recent mandates include.
Our dispute resolution practice, led by Gabriela Mina, is steadily carving a reputation as one of the most sought after teams in Bucharest through a string of high-profile successes for international clients and a caseload which includes some of the most high-profile domestic disputes.Please  click here to see what the team’s recent cases include.
The highly regarded international experience of partners Ionut Bohalteanu and Daniela Milculescu, co-heads of the corporate and commercial department, make our firm a natural choice for any company with business interests in Romania. Our sector experience is vast, covering multiple areas from high-end energy instructions for European and Chinese multinationals, to major Romanian mandates in the FMCG, real estate and technology sectors among others. Our work is most often very high-value in nature, particularly by Romanian standards, and we have acted on transactions up to €50m.We assist our clients with all aspects of corporate and commercial, as demonstrated  here .
Competition is a strongly developing practice at the firm, and one in which we are carving a robust reputation for high-level advice to international clients on issues of crucial importance to their operations. Our sector expertise is vast including, among others, the FMCG, software and pharma industries. Our experience is equally wide-ranging covering competition issues as diverse as identification of risk, assistance during investigations by the competition authorities, applications for state aid schemes and training on competition matters (including simulated dawn raids).Please click here to see some illustrations of what the calibre of our practice includes.
Capital markets is one of our firm’s core practice areas. Some of the biggest banks and companies operating in Romania have turned our team , led by Ionut Bohalteanu and Daniela Milculescu. Indeed, we count the Bucharest Stock Exchange itself as one of our clients in an ample demonstration of the high esteem in which our capital markets expertise is held. Equally proficient acting for banks, companies or international investment funds, our lawyers provide clients with one of the most adept offerings available in the market.Please click here to see what our recent experience includes.
Led by Daniela Milculescu, our banking and finance practice is one of the premier offerings in Bucharest. On the lender-side our experience has few equals in the market with a client roster which includes some of the largest banks operating in the region. Our expertise covers the full spectrum of the banking and finance space from big-ticket syndicated loans, acquisition finance and restructuring, to the feasibility of new banking products, asset finance and regulatory advice.Please click here to see recent illustrations of our market-leading capabilities.