JW Marriott Viennese Ball - special offer for NRCC members
Join us for the 11th Viennese Ball in Bucharest!
JW Marriott Bucharest Grand Hotel has the pleasure to invite you to the 11th edition of Vienna Ball by JW Marriott to take place March 12th at the somptuous Parliament Palace. Vienna Ball is a magnificent event organized under the high patronage of the Austrian Embassy in Romania and Municipality of Vienna, with the remarkable participation of Schönbrunn Festival Orchestra directed by Mr. Guido Mancusi.
With the help of our partners, sponsors and participants, the Viennese Ball is proudly supporting the community by supporting the causese of United Way Romania and SOS Satele Copiilor. For that reason, each of the 10 stunning editions of the Ball were just as many occasions for the city elite to get together in the spirit of elegance and good will alike.
NRCC members enjoy 25% discount for tickets booked and paid until February 29th.
Visit www.BalulVienez.com for more information.
Valentine's Day at Hilton - special offer for NRCC members
Treat the one with love and benefit from 10% extra discount, an exclusive benefit for NRCC members!
Dinner in Roberto’s
What could be more precious this Valentine’s Day than to spend some pleasing moments with your partner, while enjoying a scrumptious romantic candlelit dinner in our elegant Roberto’s? Indulge in a 3 course menu for two and enjoy a bottle of Prosecco on the house. Live music and the most attentive service will transform your evening into an unforgettable one.
Reservations & more details here - https://www.facebook.com/events/207456286271644/
Lazy Sunday Brunch, more romantic than never
Our Lazy Sunday Brunch becomes more romantic on Valentine’s Day with a drop of love and a complimentary bottle of Prosecco offered for your table of two. And if you don’t have time to relax with a brunch, you could surprise your partner with something sweet: two cakes for home at the price of one.
Reservations & more details here - https://www.facebook.com/events/1672759846345331/
We speak brunch, Valentine's style
Live music, kids’ corner, peaceful atmosphere and the best brunch options in the city.Spend special moments with your loved ones and enjoy live stations, free-flowing drinks, the sweetest of desserts and the authentic taste of “pura cucina italiana”.
Reservations & more details here - https://www.facebook.com/events/1066332223387261/
COS, leading specialist in workplace consultancy, design and fit-out, estimates a turnover increase ...
COS, leading specialist in workplace consultancy, design and fit-out, estimates a turnover increase of 25% in 2016.
2nd of January, 2016 – COS is expecting a 25% increase in 2016, compared to 2015
COS (Corporate Office Solutions), the first fully integrated office design & build specialist in Romania, recorded a 16.2 million Euros turnover in 2015, with an increase of 2% compared to last year. The increase marks an all time high sales record for the company in its 18 years on the Romanian market. The estimated result by the end of the year is 20 million Euros, with a 25% increase, compared to 2015.
“Since 2014, The Romanian office furniture and fit-out market is experiencing accelerated growth. 2015 confirmed it and we look at 2016 and 2017 to keep doing so. The potential detected allows us the ambition to reach 20M Euros of sales this year. The delivery of a large number of Class A office space in 2016, along with the wish of many companies to relocate in new facilities and the entry of new comers in Romania offer this larger potential. Firms in the IT&C sector keep growing fast, as well as BPOs, and it generates a great dynamic for our sector.“ says Christophe Weller, Managing Partner COS.
Expansion plans for Bucharest and Iasi
COS is planning to grow its team in Bucharest and expand in the longer term in Iasi.
"In 2016, we need to increase our sales team by adding at least three new persons in Bucharest and an agent located in Iasi. We have a showroom in Cluj since September 2014 and the local team has also grown to 4 persons, which is a good number to cover the Transylvania area. Next, we should set an office in Timisoara and, in the longer term, in Iasi." says Christophe Weller.
In 2015, the COS offices in Bucharest and Cluj were involved in major projects such as: TELUS International new HQ at AFI Park, Schneider Electric, RINF and CITR offices at Greencourt Bldg, EON HQ in Targu Mures, HELLA Electronics in Timisoara, Yardi HQ, Yonder HQ and Lohika in Cluj, Oracle offices in Iasi and Bucharest. Major projects were also completed for Microsoft and Accenture.
The Romanian market embraces the global trends in office interior design
"As part of our efforts to keep our clients informed and offer them innovative solutions, we continuously follow new research in workplace design from our partners - global leaders in the office furniture industry." says Christophe Weller.
Among the global current trends which are already applying in Romania, there are three must-haves for performant office spaces in 2016:
Office design must pay attention to acoustics
Irritating noise in the open space can come from all kinds of sources: air conditioning, ringtones, traffic, nearby construction, obsolete sound-masking systems and—especially—from other people’s voices.
Work environments need to be created with acoustics in mind, not only design. Without effective acoustical solutions, experts say, the negative impacts of day-to-day noise in many office environments can be significant, causing rising blood pressure and the release of stress hormones leading to negative outcomes such as anger and exhaustion.
Office design must encourage people to focus
Steelcase, global leader in the office furniture industry, has developed research that shows that 49% of people have trouble easily focusing at work. Over the course of their day, this leads to an average loss of 86 minutes of work due to distractions. The solution is a variety of workplace environments where users can choose their best place depending on task, mood and personality. Companies need to optimize their real estate to give employees greater choice and control over how and where they work.
Office design must promote physical activity
Steelcase's recent research has found that moving throughout the day helps people stay cognitively sharp. Companies can install standing-height furniture built for collaboration or individual work and provide ergonomic chairs designed for mobility. As numerous studies have found, going on walks stimulates creativity, and so does simply standing up.
"The workplace is now considered as a key element in developing and retaining talents and boosting employee engagement. Companies are fully aware that the office space needs to be offering well-being to the employees, in order for them to perform better and feel happy at work." says Christophe Weller.
Corporate Office Solutions (COS) is a leading specialist in workplace consultancy & design, fit out, M&E works, project management and office furniture supply, for office interiors. Founded in 1997, COS has continuously developed its range of services, becoming the first fully integrated office design & build specialist in Romania. COS has now two offices in Bucharest and Cluj-Napoca. Since foundation, COS holds the sole local authorized dealership of Steelcase, global leader in the office furniture industry. COS is also representing Interface, worldwide leader in modular carpet. During 18 years of operations, COS has delivered professional services and adequate products to more than 1,500 companies that needed to create or transform their workspaces.
Alexandra Banu – Marketing & PR Responsible
NRCC Colectiv Fundraising Campaign
The story #Colectiv
One of the greatest tragedies Romania has witnessed in the 21st Century took place on the 30th of October 2015, when a fire broke out during a rock concert at Colectiv club in Bucharest. More than 300 people were caught in deadly inferno, but not all were lucky to escape it. In the aftermath, the entire country mobilized: from individuals, to companies, mass-media, NGOs and public authorities joined forces in order to support the families of the deceased and to save the injured, who were struggling for their lives.
Estuar is one of the NGOs that launched an impressive fundraising & psychological counselling campaign dedicated to #Colectiv victims and their families. By the end of 2015, during the 2 months of campaign, Estuar collected approx. 300.000 euro from individual donors, concerts organized in cities from Romania, actions deployed in Bristol, London, Oslo and corporate donations from companies. More details are available here.
“In January 2016, over 100 people still need services of medical recovery and psychological counselling so their return to daily life happens in best conditions. That is a hard and long-term process, so there is a real need for the community members to involve and support their fellows.” Amedeea Enache, Executive Director, Estuar.
“From the last 10 years, The Netherlands Romanian Chamber of Commerce has the mission to support the Dutch-Romanian business community, being one of the most active bilateral chambers of commerce. For us, that means creating business opportunities for our members, being at the same time, connected and sensitive to the needs of the people living in the communities we operate in. It’s a responsibility we truly believe in, this is why we concentrate our resources and efforts to streamline our activities and involvement. Therefore, NRCC decided to support the victims of #Colectiv tragedy. Now, 3 month since that terrible night, the attention for the story has somewhat diminished, but it doesn't mean that the victims and their families are all fine, we have not forgotten them. For that, we are working with a trustworthy partner, Estuar, which will make sure the collected funds by means of our campaign will be correctly allocated.” declares Mr. Sebastiaan (Bas) van Hese, President of NRCC.
The fundraising campaign will focus on the most important aspect, the victims’ medium and long term needs, in this way supporting Estuar to offer in 2016 free important services such as:
1) socio-medical service – analyzing the needs of the victims and supporting costs of medical interventions and consumables (compression gloves, kinesiotherapy, cicatrizing creams, plastic surgery etc.);
2) psychological service – specialized counselling for the victims, family and friends of the victims;
3) psychiatric service - specialized counselling for the victims, family and friends of the victims;
4) educational and psychological service for the children of the victims- kindergarten and afterschool for the children of the victims.
NRCC will actively promote the cause towards members, partners and related / befriended Dutch-Romanian business organizations, using all existing communication channels: website, social media, newsletter, events.
How can NRCC members help?
“When you walk alone you go fast, when you walk together you go far.” Every contribution counts and for sure together, the Dutch-Romanian business community, can make a huge difference.
- donations in bank accounts (different currency – please mention NRCC_Colectiv)
- donations by PayPal - please mention NRCC_Colectiv
- donations by SMS (only in Telekom network);
- donations by means of Law on Sponsorship (32/1994), with no negative impact to the bottom line: directing up to 20% of the profit tax due, but no more than 0,5% of the turnover (limit increased from 0,3% starting with January 2016);
- donation from the employees of your companies – the 2% form.
For other suggestions on how we can better support this cause, please contact us at firstname.lastname@example.org.
ESTUAR FOUNDATION BANK ACCOUNTS
Opened at Banca Comerciala Romana, District 5, Bucharest
LEI - RO45 RNCB 0064 0048 9646 0001
EURO - RO64 RNCB 0076 0048 9646 0029
USD - RO10 RNCB 0076 0048 9646 0031
ESTUAR FOUNDATION PAY-PAL ACCOUNT
Account ID - VQKGP9J7MTA9E
ESTUAR FOUNDATION SMS DEDICATED NUMBERS
0900 900 426 – 2 euro/call
0900 900 428 – 10 euro/call
An interview with Sebastiaan (Bas) van Hese
Since January 2016 , Mr. Sebastiaan (Bas) van Hese, Director of Fokker Engineering Romania, is the new President of NRCC.
1. Although you may be well-known among the Dutch-Romanian business community, we still would like to ask you to introduce yourself.
Definitely. Most members call me Bas, which is short for Sebastiaan. I was born in 1982, in The Hague, The Netherlands. I’ve lived my life with a conscious effort to push myself and explore the world around me. As a child, I lived 5 years in Saudi Arabia with my family, which gave me a passion for travelling and meeting new cultures, something I continued doing while living in Mexico, Canada, the US and now 3 years in Romania. I graduated at the University of Technology in Delft before starting to work at Fokker in 2009. I have been part of the NRCC board since the beginning of 2015 and I ran for President because I want to fulfill the extraordinary potential of the NRCC and Romania itself in terms of growth and development. Besides, I feel no greater privilege than representing the countless ideas, objectives and dreams of our members as President of this community. When I have some free time, which is not often, I love to spend my time in the ocean, which is where I find modesty, feeling the immense power of our nature.
2. You are working in the aerospace industry, one of the most innovative sectors. Please share with us some insights.
The dream to fly has long been shared between Romania and The Netherlands. Two countries, both with a rich aerospace tradition, gave birth to legendary aviation pioneers. Aurel Vlaicu and Anthony Fokker both built in 1910, independently from one another, their countries’ first powered aircraft. Whereas Aurel Vlaicu met a tragic end, when he heroically attempted to be the first pilot to cross the Carpathian mountains flying his Vlaicu Nr. II, Anthony Fokker lived to see his dream transform into the world’s largest aircraft manufacturer by the late 1920’s. A century later, the global aerospace industry has evolved into an industry that has become enormously profitable and has had a significant impact on our lives and our business world. In the last 20 years, the amount of passengers has tripled to around 3 billion per year, while the price of flying has decreased with 30% in the same period. It is a high-technology industry characterized by constant innovation, driven by intensive partnerships between research centers, universities and organizations. Affordability drives technological development as manufacturers are innovating designs, materials and engines to lower the price per seat as much as possible. As innovation for The Netherlands and Romania is crucial for long-term success, our task forces on Creative and High-Tech industries are great facilitators for our members to cooperate, learn from each other and influence policy and regulations.
3. You took over the presidency in an important moment: in 2016, the chamber celebrates 10 years of activity. What do you consider now to be the main directions for a stronger growth of NRCC?
From now on, we will grow the presence of the NRCC by deploying structural activities in other Romanian cities like Brasov, Constanta and Cluj. Cities where a large base of Dutch companies is operating. Furthermore we will strengthen our member engagement through a series of growing dedicated events, transferring knowledge through our monthly knowledge centers and develop further our successful member driven sector-taskforces. Our members can expect an extra touch to these initiatives because of our 10 year anniversary. All comes down to build an even stronger and active community, as the success of every business depends on a community of people working together. Alone we can make a difference, but together we make change.
4. What are biggest challenges you think Romania will face in the next 5 years? How can NRCC contribute?
I believe the biggest challenges for Romania will be to maintain economic growth and labour availability while dealing with a declining population and low labour participation. Secondly, Romania will need to raise the quality of its educational system, increase knowledge sharing between educational institutes and companies, and aligning the future needs of employers with the curriculums at schools and universities. Thirdly, Romania should improve the business environment by increasing support towards innovative research and development, easing access to finance, combat corruption in its public procurement and reduce administrative burdens on SME’s. Finally, a more obvious challenge for Romania is the improvement of its infrastructure to capitalize on its favorable geographical location. The NRCC contributes by playing an influential role addressing the interests of our large membership base towards the governmental sector and lobbying for real change. Instruments we use are the ‘Coalitia pentru Dezvoltarea Romaniei’, our extensive network of corporate and individual members and our member-driven sector-specific taskforces, which stimulates discussion between and active participation of our members. We actively facilitate and grow the trade between Romania and The Netherlands in many ways, attracting new investment to Romania, for example by outlining benefits and challenges on developing business in Romania in our ‘Nearshoring Guide’, issued once every 2 years.
5. In one sentence, how would you promote Romania to the Dutch companies?
Besides being a beautiful, friendly and safe country to visit, Dutch companies will find that Romania has a very favorable geographical location, lying at the crossroads between Europe and Asia, possesses highly skilled workers with excellent foreign language skills, low corporate taxes and low business operational costs, not only limited to salary.
6. Last but not least: do you have a special message for NRCC members?
It is an extraordinary privilege to act as President of this active and thriving community. For the support and ideas I have received from so many members of our chamber I am grateful. I look forward to get into an even more active interaction with all of you during our events to further improve your experience of being a NRCC member. At the start of this celebrative year for us, I invite all of you to participate in this year’s countless exciting events, grow our community by bringing in potential members, conduct business with each other and don’t forget to have fun!
Romanian Ethics & Compliance Forum (RECF) - special offer for NRCC members
On February 11th, 2016, Centre for Advanced Research in Management and Applied Ethics is organizing the first edition of the Romanian Ethics & Compliance Forum (RECF), a preamble to the official launch of European Ethics & Compliance Association and 2016 European Ethics & Compliance Forum. The Forum is hosted by Unicredit Bank, at its Bucharest headquarter located in 1F Expozitiei Blvd. (next to Hotel Pullman Bucharest/World Trade Center).
The event will bring together around 150 Romanian and foreign professionals from Ethics & Compliance, Legal Compliance, Anti-Corruption, Anti-Money Laundering, Fraud Prevention, Risk Management, Internal Control and Internal Audit, Human Resources and other departments. The first edition is about “Managing Integrity Effectively” and has four panels:
• “Corruption and Fraud Prevention in Business”
• “Due Dilligence and Ethics & Compliance Metrics and Reporting”
• “Challenging the Organizational Culture”
• “Managing Business Integrity Risks Effectively”
This edition will host 18 keynote speakers:
▪ Bogdan Chirițoiu (Competition Council)
▪ Adrian Baboi Stroe (Ministry of Justice)
▪ Cornel Călinescu (Ministry of Justice)
▪ Neil Farquhar (Bureau Van Dijk)
▪ Oana Raluca Bănăţeanu (Siemens Romania),
▪ Neil McGregor (McGregor & Partners; British Romanian Chamber of Commerce)
▪ Charles Vernon (Vernon | David)
▪ Mihai Popa (Bayer Romania)
▪ Cornelia Preda (AbbVie Romania)
▪ Doru Bulată (Transfond)
▪ Virgil Tacu (Omniasig)
▪ Raluca Vasilache (Țuca Zbârcea & Asociații)
▪ Magda Calangiu (BRD Societe Generale),
▪ Dan Zaharescu (ARPIM)
▪ Cristian Ducu (CARMAE)
▪ Livia Zamfiropol (DLA Piper România)
▪ Ioana Laeș-Ichim (DLA Piper România)
▪ Dragoș Birlog (Unicredit Bank)
At the end of the conference, all participants will receive the first issue of Ethics & Compliance Magazine and a 10% discount for 2016 European Ethics & Compliance Forum, which will take place on November 10-11, 2016, in Bucharest.
NRCC members will receive a substantial discount when registering on the conference website using the code RECF16NRCCO1:
• The fee for one participant is 167 Euro (40% off, the Late Registration Fee - 279 Euro)
• The fee for two or more participants from the same organisation is only 103 Euro/participant (The Early Bird Fee for groups)
The employees of the members of NRCC that want to participate independent of the chamber, will receive the Early Bird discount for large groups, which is 90 Euro/registrant. In this case, the invoice will be issued for the person that register for the event, not for a legal entity. Those interested in joining the event this way, should register using the individual registration form from the conference website and mention the following discount code RECF16NRCCO2.
KLG Europe awarded Best Managed Company 2015
KLG Europe belongs to one of the best manged companies in the mid-sized and large companies in the Netherlands.
The award is part of the ‘Best Managed Companies’ program that Deloitte organizes in cooperation with ING for the Eight consecutive year and for the second time with ING. For this, Deloitte assessed the strategy, business operations and the results of KLG Europe. KLG Europe was also awarded as best managed company in 2013 and 2014.
KLG Europe stands out because of their good balance and high quality score. The family company offers a total logistics solution, and seeks to provide added value for all its customers. The continuity and balance at KLG Europe is guaranteed by motivated employees and a strong management team.
Kees Kuijken, CEO KLG Europe says: "At KLG Europe we act in a manner that characterizes us. It is the result of our tradition, values, background and our perspective on the role of logistics, and the new environmental challenges within our industry. Every employee in our team is trained in taking responsible decisions for the benefit of our customers and the company. Our employees also understand the way their performance and commitment affects the overall business performance. Our management structure makes it possible to act quickly under all circumstances, allowing us to offer high-quality services.”
In addition, Kees Kuijken believes that the program is very valuable for the development of the company. “The feedback we receive from Deloitte on our business, provides guidance for the future in expanding our services and maintaining our quality standard.”
A new President for NRCC
January 2016 - The Board of Directors of the Netherlands Romanian Chamber of Commerce (NRCC) is pleased to announce a new President in the person of Mr. Sebastiaan (Bas) van Hese, Director of Fokker Engineering Romania.
Mr Sebastiaan van Hese, born in 1982 in The Netherlands, is the current Director of Fokker in Romania since 2013. He obtained a Master's degree from the University of Technology in Delft and finalized a graduation track at the Rutgers University in New Jersey, USA. After graduation he began his career in 2009 at Fokker Technologies, a Dutch leading global aerospace company, in a fast-track program for future leaders. During 7 years with the company, he has served in a variety of project operations, business development and management positions. He has built up an international management profile with exposure to Netherlands, Mexico, USA, Canada and Romania. On May 1, 2015, he was elected to the NRCC Board of Directors.
Mr Maurits Dohmen, Executive Director of NRCC declares: “We are delighted with the appointment of Mr. Van Hese. The board strongly believes that the global & senior management experience and the vast network Mr. Van Hese brings as well as his commitment towards the NRCC, will contribute and match the ambition of the NRCC in growing a stronger presence. On behalf the Board of Directors, I would like to thank Mr. Robin Van Rozen for his outstanding contribution in developing the NRCC business community and wish him a lot of success in his new position: Vice-president and General Manager Philips Personal Health UK & Ireland.”
“I am honored to be appointed President of the NRCC. My intentions are, together with the NRCC Board and Executive team, to keep enforcing the current strategy which aim is to grow the presence of the NRCC. We start this year deploying structural activities in Brasov, Constanta and Cluj, cities where a large base of Dutch companies is operating. We will strengthen our member engagement through a series of dedicated events, transferring knowledge through our monthly knowledge centers and develop further our successful member driven sector-taskforces. The NRCC understands that the success of every business depends on a community of people working together. Alone we can make a difference, but together we make change" said Mr. Van Hese.
ELECTRONIC ARCHIVING OF ACCOUNTING DOCUMENTS
As of January 1st, 2016, accounting documents can be kept not only on paper, but also in electronic format, pursuant to the Order of the Minister of Public Finance no. 2634/2015 (published in Official Journal no. 910 of December 9, 2015). Furthermore, the said Order also contains provisions regarding the conditions that have to be complied with by accounting software. All these changes are presented to you below.
CONDITIONS APPLICABLE TO ELECTRONIC ARCHIVING
Even if electronic keeping and archiving of accounting documents were already provided by the law, it was not clear whether electronically archived documents also had to be kept on paper. Consequently, a significant number of companies were archiving their accounting documents on paper.
Pursuant to Order no. 2634/2015 (point no. 36 of Appendix 1), accounting documents have to be archived by companies on paper on in electronic format. If the accounting books are kept via accounting software, accounting documents can be archived in electronic format for the whole duration imposed by the law, provided that the said documents can be printed at any time, if requested by the inspection authorities or if printing is needed due to the economic operator’s activities.
Furthermore, archiving of accounting documents can also be entrusted to companies specialized in document archiving. These companies must be authorized to supply archiving services.
Moreover, in accordance with the abovementioned Order, accounting documents can be kept not only at the economic operator’s tax residence or secondary offices, but also at its registered office (which can differ from the tax residence).
CONDITIONS APPLICABLE TO ACCOUNTING SOFTWARE
Accounting software used by economic operators in order to keep their accounting documents must comply with certain conditions:
- Ensure strict compliance of the electronic data processing results with the applicable regulations in force;
- Each piece of information recorded in the accounting books must also figure in an accounting document;
- Ensure data preservation for a period of time, in compliance with Law no. 82/1991 on accounting;
- Guarantee data confidentiality and protection (by passwords, identity codes for access to information, ensure software and data backup);
- Allow printing of financial statements and synthetic documents necessary for the entity’s operational management;
- Comply with the regulations in force applicable to data security and data processing reliability.
We hope this information was useful to you and we wish you a Merry Christmas and a Happy New Year!
GRUIA DUFAUT Law Office
LAWYERS (PARIS & BUCHAREST)
Litigation regarding renewable energy investments
Wolters Kluwer organizes on 10 December a seminar on Litigation regarding renewable energy investments. Full details about this event can b found here
A special Christmas Offer
Sunday Brunch at Athene Palace Hilton Bucharest
NRCC members benefit from 10% discount!
Netherlands “supplies” highest number of foreign investors in Romania
The National Trade Registry Office (ONRC) informs that the number of companies with foreign capital participation reached 203,099 at the end of September. This represents a growth of 3 per cent year-on-year. Since the start of the year, the number of companies with foreign capital has grown by 2.2 per cent. In what concerns the value of the registered capital subscribed, the more than 200,000 companies totalled EUR 41.8 bln.
The rankings of the investors’ countries of origin are topped by Netherlands with over EUR 8.4 bln invested in 4,730 companies. Netherlands is followed by Austria, with approximately EUR 4.7 bln in 7,004 companies, Germany (EUR 4.6 bln in 20,992 companies), Cyprus (EUR 3.5 bln in 5,687 companies) and France (EUR 2.4 bln in 8,262 companies).
445 foreign capital companies were inducted into the National Trade Registry in September, most of them in the Bucharest-Ilfov region (193). Almost 40 per cent of the total companies registered in September are active in the auto parts, wholesale and retail sectors (NINEOCLOCK)
A new edition of INDAGRA, the most important agri-food fair in Romania, took place between the 28th of October and the 1st of November at Romexpo.
Dutch participation was stronger than ever with 60 Dutch companies active in agri-food business grouped in three collective stands: Holland Dairy House, Holland Fruit, Holland House of Horticulture.
At the official opening of the Indagra Fair, Dutch Ambassador Stella Ronner-Grubačić shortly met President Klaus Iohannis and Minister Daniel Constantin.It was an excellent opportunity to renew the willingness of the Netherlands to share expertise and knowledge for more local production.
DAVID Intercar: 10th anniversary with special offers
DAVID Intercar is happy and proud to announce its 10th anniversary! We will celebrate this with you, by having a special anniversary discount: in November you get 10% discount. Since 2005 we have been at the service of many international and domestic clients, and we are accredited for transfers and transport within Romania by NATO. We thank our clients for the great collaboration!
Optimize your meeting days: ‘Driver for One Day’
In the last months we tested the Driver for One Day concept, and with great success among our customers. Our customers were very satisfied, as they could now increase of the number of business meetings in and around town. A full working day of eight hours you have a driver with first class car at your disposal. The driver knows the directions, speaks English and has proven customer service skills. Optimize your day by planning more meetings. You can book this service at http://davidintercar.ro/driver-for-one-day.
Partnership with LOT Polish Airlines
DAVID Intercar has signed an exclusive partnership with LOT Polish Airlines. Thanks to the new, exclusive partnership between LOT Polish Airlines and DAVID Intercar, you are not only able to fly fast and comfortably to Bucharest, but you can continue your journey on the ground. Simply visit http://davidintercar.ro/airport-transfer to book your ground transport with David Intercar. Being a LOT Polish Airlines passenger, you will receive a 10% discount.
Contact us 24/7
We are ready at any time (you can call us 24/7) to provide you our client-driven services, from airport transfers to guided multiple day tours and logistics solutions for international events. We invite you to visit our website to see all our services and our range of cars which include also busses.
Make your visit efficient, stress-free and enjoyable by choosing DAVID Intercar!
Launch of Tax@Hand application
Deloitte Romania announced the launch of Tax@Hand, a mobile app containing fiscal information, news, opinions, specialized articles and other resources developed by the company’s consultants.
The app, highly interactive, with news, tax information and perspective articles, and links to Deloitte International Tax Source, containing tax rates for 65 jurisdictions and more, can be tailored to the user’s needs, who can select only topics and geographies of interest and choose a preferred language. It offers real-time notifications, the option to save articles for later and access to professionals with specialized expertise worldwide.
The app, available on iOS, Android and Blackberry platforms is offered for download free of charge.
Discover NRCC member REGUS!
Mazars Romania receives, for the second year in a row, the Grand CECCAR National Prize for the best ...
The Body of Expert and Licensed Accountants of Romania (CECCAR) designated Mazars Romania as the winner of “The Grand Special National Prize 2015” for the best practice in the accounting field. Mazars receives this award for the second year in a row.
Dino Ebneter, Partner, Head of Accounting & Payroll Outsourcing Mazars: “It is a great joy to receive this award for the second time, in 2015, when we celebrate 20 years of Mazars in Romania. It is an extremely valuable confirmation that Mazars’ work, our people’s professionalism and accomplishments are aligned to the highest standards of the accounting profession. Our thanks go to CECCAR for the honor of announcing us again as the winner of this award. The reconfirmation of our work’s value at this level, the highest in Romania, is a recognition of our professional team members’ value.”
Mazars’ Financial - Accounting advisory support is part of the Outsourcing business line, along with the Payroll and HR services. The other business lines provide solutions and services in audit, financial advisory and tax advisory. In 2015, Mazars celebrates 20 years of activity on the Romanian market.
In 2013, Mazars merged with Adevaris and has consolidated the market position in top 5 firms specialized in audit, tax advisory, accounting & payroll outsourcing.
There’s a better player in town: Business Lease launches its operations in Romania
- Business Lease has acquired in December 2014 Fleet Management Services, active in the Full Service Operational Leasing and Car Fleet Management sector;
- Romania is the fifth country in the CEE region that Business Lease has entered;
- “Same Cars, Better Care” – the Business Lease approach for the Romanian Full Service Operational Leasing market;
- Business Lease makes significant investments in its operations in Romania.
Business Lease, an expert in Full Service Operational Leasing and Mobility Services, has entered the Romanian market through the acquisition of Fleet Management Services.
After a period of transition and investments in the total organization and company, it announced the official launch of its Romanian operations at the inauguration of its new offices in Bucharest today.
Business Lease Group - established in the Netherlands in 1989 - considers Central and Eastern Europe as its second home market and is already a leading player in the Czech Republic, Slovakia, Poland and Hungary.
Business Lease offers outstanding services for any car brand or type at an appealing Total Cost of Mobility (TCM) and manages in Europe a total contract portfolio of 42,000 objects, serving large as well as small and medium-sized enterprises with customized solutions. Romania is the fifth country in the CEE region that Business Lease entered with the acquisition of the largest independent local Full Service Operational Leasing and Car Fleet Management provider in Romania, Fleet Management Services.
Better Care for its customers and a total service approach in mobility are key for Business Lease. “A car is a car – but people make the difference”. Supported by state of the art systems and workflows, Business Lease’ employees are able to work in an efficient way, offer excellent quality and provide customers the total Care they need.
“Business Lease came to Central Europe in 1996 and since then we rolled out our operations and developed Full Service Operational Leasing in the whole region. In these almost twenty years we managed to build up a loyal customer portfolio with international, regional and local companies who all had one thing in common: seamless mobility and peace of mind in the operations of their car fleet.” explains Philip Aarsman, the Managing Director of Business Lease Romania.
“The decision of entering Romania is a direct consequence of a strong demand by our customers and has been taken after a thorough analysis of the local market, which we can help develop as well as we did in other countries” Philip Aarsman adds.
The access strategy for the Romanian market - by acquiring a strong local company - differs from the one used in other countries where Business Lease built Greenfield operations.
“Although we used different terminology, we noticed immediately that we share the same business principles which are in line with the customer proposition of Business Lease of Care and Quality” adds Philip Aarsman. “This strategy enabled us to make a head start of our Romanian operations“.
At takeover Fleet Management Services had a portfolio of over 120 customers with a total contract portfolio of 3.000 contracts, with a split of about 800 Full Service Operational leasing contracts and 2.200 contracts for Car Fleet Management services. The financial figures reported for last year stated revenues of 4 million euros.
“In the first half of this year we were able to keep all existing customers on board and to increase our number of Full Service Operational Leasing contracts by over 15% with new customers such as Piraeus Bank and Wolters Kluwer. “
“Internationally, Business Lease works with several international companies with a regional presence in Central and Eastern Europe. One of these companies is General Electric, who became our new customer in Romania also”, Philip Aarsman says.
Long term investments
Following the takeover, the first part of 2015 was dedicated to the transition process and implementing new projects resulting in significant investments in its Romanian operations. The focus was set on implementing a new ERP (ICT) system, business processes, and a new office building in the main business district of Bucharest, employee trainings and a strong partner’s network offering high quality services.
“This year we focus on implementing our international work flows and Business Lease processes. Next steps include the launch of CARE Online, an investment that will lead to the digitalization of Business Lease services” according to Philip Aarsman. This online platform, exclusively built for and by Business Lease, offers both fleet managers and driver’s unlimited access to the Business Lease services via internet.
New services from Business Lease
“We have seen that the market is mostly price driven. The quality of service comes second and we have a different approach. We are convinced that our approach with Consultative Selling assures better results and also this is the way we do business. We do not provide only a lease calculation but really take the time to meet the customer, list his needs and then suggest the solution he actually needs, even if this solution would mean that we need to advise not to use our service for the moment”, said Aarsman.
When choosing a mobility supplier the main differentiator should be the Quality of the services and the Care delivered, which translates into customer satisfaction. Such results can be achieved by delivering seamless mobility services for a fair price.
Following these principles, a main priority for the company was an intensive training program for the employees in order to understand and implement the Better Care philosophy and to ensure the delivery of quality and constant services for the customers.
Full Service Operational Leasing market
Regarding the customer profile, studies in the six countries Business Lease is present show that mobility requirements are largely similar and differences mostly occur due to different tax regulations and/or legislation in the countries. This similarity makes it possible to implement the same business model in all six countries.
Regarding the development of the Full Service Operational Leasing market in Romania, which has now a total of 52.000 vehicles, Business Lease believes there is a potential of a rapid and steady growth for this service, considering that in mature countries like the Netherlands 70% of the total sale of company cars is contracted through Full Service Operational Leasing.
“We believe that more and more companies will switch to Full Service Operational Leasing in order to be able to focus on their core activity. Romania is in need of quality and specialization of these services’’ according to Philip Aarsman.
Business Lease statistics = Better Care
The already mentioned systems and services, in use in countries like the Netherlands, Poland or Hungary, allow Business Lease to generate statistics considering the way the drivers use their cars and then optimize its product.
The monitoring systems used by Business Lease and its customers, monitor various vehicle parameters such as fuel consumption, number of (speeding) fines, damage incidents or usage of substitute cars. Practice has shown there is a direct link between higher fuel consumption, a higher number of car damages and accidents and therefore has a snowball effect on the Total Cost of Mobility.
The Care factor of Business Lease is of great importance in this kind of situation, the mutual objective being the reduction of the Total Cost of Mobility. Thus, Business Lease proactively offers solutions to reduce the mobility expenses for the customer for example by providing eco and safety driving trainings for drivers who are happy to use their right foot firmly.
About Business Lease Group www.businesslease.com
Business Lease is an expert in providing Full Service Operational Leasing and Mobility solutions for both large companies and small and medium-sized businesses. In addition, it offers importers and dealers customized solutions in the areas of captive leasing, dealer stock funding and other financing products and services.
Besides the Netherlands, where it has its headquarters and numerous regional branch offices, Business Lease is a leading player in Poland, Slovakia, the Czech Republic and Hungary. The company leases every car brand and model at a low cost (TCO) and is known for providing excellent service. Business Lease Group’s total contract portfolio contains over 42,000 objects. Customer care and service in the field of mobility are the top priorities at Business Lease, which believes that a car is just a car, but it’s the people who make the difference.
About AutoBinck Group www.autobinck.com
Business Lease Group is a division of AutoBinck Group. Based in The Hague, AutoBinck Group is active in eight European countries and has 50 subsidiaries spread over four divisions: Car Distribution & Retail, Leasing & Finance, Parts & Accessories and Smart Mobility. Its portfolio includes import companies and dealerships for a range of major car brands, an international car leasing company and an extensive parts distribution branch. AutoBinck also invests in new forms of mobility. AutoBinck Group has 2,000 employees. Annual turnover is around 900 million euros, making it one of the twenty largest automotive groups in Europe.
Foreign Direct Investment in Romania: over EUR 60 bln
The National Bank of Romania (BNR) and the National Statistics Institute (INS) have joined forces in order to publish uniform data on foreign direct investment in Romania. The event is worth saluting, considering the very high dispersion of data on this issue. In this context, it is worth pointing out that collaboration between the two institutions and the National Trade Registry (which works under the authority of the Justice Ministry) will give extra clarity and viability to statistical data in this domain.
Thus, BNR’s and INS’s statistical research shows first of all that Romania attracted in 2014 foreign direct investments worth a total of EUR 2.42 bln. Equity contributions totalled EUR 2.846 bln last year. Nevertheless, because of the negative balance of net loans contracted from foreign investors (EUR 425 M), net foreign investments stood at EUR 2.42 bln in 2014.
The final stock of foreign direct investments (1991-2014) stood at EUR 60.198 bln on 31 December 2014, of which: EUR 43.243 bln represents equity contributions, including reinvested capital (71.8 per cent), and EUR 16.955 bln represents net loans from foreign investors (28.2 per cent).
Most foreign investments mostly went into the manufacturing industry (32 per cent of the total FDI stock). “Within this industry, the best represented branches are the oil processing, chemical products, rubber and plastic moulds branch (5.7 per cent of total FDI stock), transport equipment branch (5.4 per cent), metallurgy (4.5 per cent), food, beverages and tobacco industry (4 per cent), cement, glass, ceramics (2.6 per cent), the manufacturing of wood products including furniture (2.5 per cent),” the report shows.
Apart from industry, other activities that attracted important investments were financial leveraging and insurances (13 per cent of total FDI stock), retail and wholesale trade (11.7 per cent), constructions and real-estate transactions (9.8 per cent), IT&C industry (6 per cent). At the opposite end, the smallest investments went into the hospitality and restaurants (0.9 per cent), transports (1.7 per cent) and agriculture sectors (2.5 per cent).
From the point of view of territorial distribution, the FDI mostly went into the following development regions: Bucharest-Ilfov (59.2 per cent), Centre (9.7 per cent), West (7.7 per cent), South-Muntenia (7 per cent) and North-West (5.6 per cent). “We point out that the territorial distribution of FDI was ascertained based on the location of the headquarters of the direct investment companies, which does not always correspond to the location of their economic activity,” the analysis points out.
The top 5 countries based on their share in Romania’s total FDI stock as registered at the end of 2014 are: Netherlands (23.6 per cent), Austria (16.1 per cent), Germany (12.4 per cent), Cyprus (7.1 per cent) and France (6.8 per cent).
On the other hand, in 2014 greenfield investments and merger and acquisition investments (M&A) registered a low level of EUR 77 M and EUR 196 M respectively. “The predominant share in the equity contributions flow in 2014 is represented by company restructuring, with a value of EUR 2.438 bln, namely 58 per cent of contributions, and company development, with a value of EUR 1.511 bln, representing 36 per cent of contributions,” the BNR and INS report shows. (NINEOCLOCK)
TPA Horwath Romania – recognised as leading Romanian accounting practice
For the second year running, TPA Horwath Romania has won the prestigious “Special Prize” for accounting services. The “Special Prize for 2015” (large companies category) award was made by CECCAR, the body of chartered and certified accountants in Romania, and is an acknowledgement of the company's status as a top accounting practice in Romania.
Companies nominated for this award are assessed in terms of turnover, number of employees and client portfolio, as well as the complexity, quality and innovative nature of the services they provide.
The award was presented at an event held on 21 September to mark National Accountant Day. At the event, entitled “The Profession of Chartered Accountant and Certified Public Accountant – A Successful Career”, various awards, including the “Special Prize for 2015” received by TPA Horwath Romania, were presented to companies from the Romanian accounting services sector.
This latest accolade comes after TPA Horwath Romania was awarded the CECCAR “Grand Prize” for accounting services on three previous occasions.
We would like to thank all our clients and to reiterate our commitment to providing accounting services of the highest possible standard. We would also like to thank our valuable team of consultants, without whose hard work and dedication this achievement would not have been possible.
TPA Horwath is one of the leading accounting, tax advisory and auditing services companies in Austria and Central and South Eastern Europe. Headquartered in Austria, the TPA Horwath Group is active on 11 European markets: Albania, Austria, Bulgaria, Croatia (exclusive business partner), Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia and Slovenia.
More details about our further services: Accounting
Special promotion at Noblesse Academy for the NRCC members
This autumn, our member Noblesse Cultural Association is launching Noblesse Academy, a new initiative to bring culture and its values into the limelight again. Having the motto „Via Valores”, the new project consists in organizing several classes and workshops performed by valuable names of the Romanian culture. What is special at Noblesse Academy is that the participants have access to some programmes organized by national and international experts and will have direct contact with valuable personalities from different fields.
The location where the classes will take place is Noblesse Palace, a place where history elements link with modern ones.
The after-hours classes that we organize are addressed to persons who would like to develop their aptitudes and talents or who would like to know new things from various fields. Among the classes we have: a theatre workshop with Florin Piersic jr., an extended blogging class – narrative blogging with Radu F. Constantinescu and Lifestyle Blogging with Ana Morordan - , an Introduction in the World of Interior Design class with Beatrice Joger, prorector for Image and International Cooperation within Ion Mincu University of Architecture and Urbanism.
For children, Noblesse Academy organizes a series of classes that offer your child the opportunity to develop their skills and knowledge: Arts and Crafts with Mădălina Andronic, Interior Design for Children and Teenagers with Aura Filip, Acting Classes with Iolanda Covaci and Valentina Zaharia.
For more details access: www.palatulnoblesse.ro
NRCC members benefit from a 10% discount if classes are purchased until the 31st of October.
Contact: Anca Ghiorghiu, events manager, email@example.com, tel. 0749232311
Silvana Dulamă, cultural specialist, firstname.lastname@example.org, tel. 0749280796
ManpowerGroup Solutions 2015 Contingent Workforce Index
ManpowerGroup Solutions has recently launched the third edition of its annual Contingent Workforce Index, a measure of the relative ease of sourcing, hiring and retaining a contingent workforce in 75 countries. ( Contingent worker classification comprises all non-traditional worker categories including part-time, temporary or contract labor, and excludes all permanent staff.) The CWI compiles more than 50 key data points around the Availability, Cost Efficiency, Regulation and Productivity of each country’s contingent workforce. Using a proprietary formula, the CWI assigns a numerical value to each country, comparing the relative advantages or disadvantages between labor markets. In the 2015 edition Romania ranks 66th out of 75 globally, and 36th out of 40 countries in the EMEA region, due in part to a comparatively lower percentage of English speakers than elesewhere in the region, while the Netherlands rank 26th globally and 11th in EMEA, with top 5 regional scores in some of the Index categories. Click here to read the full report, or click on the active links in the countries’names to see an overview of the scores and ranking for that country.
Tudor- Specialist in Comunicare is the PR agency elected to work with the Netherland’s Embassy in ...
This collaboration will generate significant levels of attention for Dutch agriculture and its long-term commitment to Romania, the Dutch expertise, know-how and experience among government institutions, farmers, producers and processors associations and consumer organizations.
Romanian businesses jump up one spot in Deloitte Central Europe Top 500
The largest Romanian companies present in Deloitte Central Europe Top 500 saw a median annual revenue growth of 5.3 percent compared to the regional rate of just 0.3 percent, shows data from the latest Deloitte study. The number of companies from Romania present in the ranking increased to 46 as compared to 42 in 2014, placing the country fourth, one position higher than the previous year.
The combined turnover of these companies rose by almost 7 percent to EUR 46 billion. By way of contrast, the combined revenues of all companies in the Top 500 dropped by 1.8 percent to EUR 682 billion as compared to last year. Also, 30 companies from Romania improved their ranking and eight new entries made it to the top.
“Romania’s place in the ranking clearly reflects the country’s well positioning and attractiveness for investment. With a steady microeconomic growth, Romania ranks among the regional champions in terms of economic growth. The momentum is expected to continue but that depends very much on the country’s political, legal and fiscal stability, which are key elements for a more significant economic and business environment boost,” said Ahmed Hassan, country managing partner for Deloitte Romania.
Energy and resources has remained the industry which contributed most to the country’s ranking with total revenues of EUR 18.9 billion followed by consumer business and transportation with EUR 13.4 billion, manufacturing with EUR 9.5 billion and technology, media and telecommunication with EUR 2.8 billion and life sciences with EUR 1.3 billion.
The biggest climb in Romania belongs to Auchan, which jumped 217 places to 237th while Enel, Oscar Downstream and Interagro did not make it into the ranking.
Of the listed companies 36 are multinational and only three entities represent local entrepreneurs.
“Statistics show that the entrepreneurial activity in Romania has reached its peak and the rate of those intending to start a new business within three years is the highest in the region. However, the fact that we have only three Romanian entities owned by local entrepreneurs in the ranking is a sign that the availability of resources is still low and public policies are not encouraging enough so as to put money at risk,” said George Mucibabici, Deloitte Romania chairman.
However, Hein van Dam, partner-in-charge financial advisory practice at Deloitte Romania predicts that Romania could become the second largest Central European economy after Poland if it keeps its focus on attracting investment.
The banking and insurance sector stayed unchanged, with six banks and four insurance companies making the top. With assets totalling 51.9 billion EUR, the banking sector registered a slight increase from the previous year’s EUR 51.1 billion. The ranking remained the same though with Banca Comerciala Romana securing the pole position followed by BRD- Groupe Societe Generale and Banca Transilvania.
The 9th edition of Deloitte Central Europe Top 500 was conducted on 500 companies, 50 banks and 50 insurance companies from 18 countries across Central Europe and Ukraine. It is compiled based on individual and consolidated company revenues for the fiscal year ending 2014, ranking the largest companies by revenues reported for the previous year and the most important banks and insurance companies by assets and by gross written premiums.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Deloitte provides audit, tax, consulting, and financial advisory services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries, Deloitte employs approximately 200,000 professionals. (Business Review)
Takeover Day 2015
Economy more important than joining Schengen, says Dutch ambassador
The Netherlands will agree with Romania joining the Schengen area when the country will meet all the requirements and will address all the issues related to its CVM report, said Matthijs van Bonzel, the Dutch ambassador to Bucharest during a press conference, adding that in his opinion the focus should be on the local economy, according to Mediafax. This was the ambassador’s last press conference before ending his term in Romania.
Asked to comment on the Fiscal Code, the Dutch diplomat stressed the need for investments. “It is important for Romania to invest in infrastructure, health and education. Investments are necessary, everyone agrees on that. If you have public funds, I suggest you invest that money in public areas here there are issues, not give them back to the people. It could be a mix – to give some back to the people, to have more money to spend, but the question is how much. Public money exists to be directed towards public issues not to be given back to the people,” said the ambassador.
Dutch investors see Romania as a “developing country”, said the ambassador. The diplomat added that from his recent talks with several Dutch businesspeople, it emerged that Romania could attract some investors who are currently active on Asian markets given the issues the region is facing.
Van Bonzel has been serving as the Dutch ambassador to Bucharest since 2011. (Business Review)
Telekom Romania has still widest coverage in Romania, says ANCOM data
Telekom Romania Communications has the network with the widest coverage across Romania. Compared to its competitors, which focus their operations mostly in urban areas, Telekom has a very wide rural coverage, according to data from telecom watchdog ANCOM, quoted by Hotnews.ro.
Thus, at the end of last year, Telekom Romania Communications covered approximately 91 percent of the Romanian population in total.
One of its main competitors is RCS&RDS, which covered 62 percent of the entire Romanian population.
Another important competitor is UPC Romania, which covered 48 percent of the Romanian population at that time.
The data also shows that Telekom Romania supplied services in all urban areas, while UPC Romania ran its operations in cities where it covered 88 percent of the urban population.
Telekom is the leader in rural areas, whereas the main competitors of Telekom Romania, RCS&RDS and UPC Romania are more focused on urban areas, according to the latest ANCOM data.
Compared to 2008, all telecom operators have expanded their coverage in rural areas.
Thus, Telekom covered 83 percent of the population in 2014 in rural areas, compared to 42 percent in 2008.
RCS&RDS covered nearly 25 percent of the population in the rural areas in 2014, compared to just 7 percent in 2008.
UPC Romania provided broadband services to 7 percent of the population in rural areas in 2014. In 2008, the company covered just 0.003 percent of the population. (Business Review)
ING credits loans increase with 12 pct turnover rise for H1 2015
ING Bank Romania registered in the first half of the year an increase in lending, the loan portfolio reaching RON 12.6 million (EUR 2.86 million), 24 percent more year on year, according to company representatives. The increase in lending led to an increase in revenues by 12 percent over the same period last year. (Business Review)
Recruitment - Dutch Speaker
Mood Media is looking for a Dutch speaker to join their Centre of Excellence in Bucharest. They have a vacancy for a credit controller who wants to work in the customer experience and audio visual industry. They are looking for someone who has the talent to add value by using their experience, at the same you will learn best practice and participate in projects that will lead to career development. Check out www.moodmedia.com. For more details please contact Chris Reed, email@example.com
Regina Maria healthcare network opens clinic in Constanta
Following an investment of EUR 300,000, Regina Maria, a Romanian healthcare provider has added another clinic to its national network of 22 locations, according to company representatives. The Delfinariu Children’s Policlinic is the second space they open in Constanta and it will offer non-stop paediatric services, including 17 medical specializations and lab works. (Business Review)
Opening for Dutch speakers
We are looking for Dutch speakers (at least B2 level) for the leading telecom company, for level 1 Technical Support Agent. If you're interested in finding out more info, do not hesitate to contact us or send your resume at firstname.lastname@example.org / Mobile: + 40 726 226 428
EU to invest some EUR 9.5 bln in Romania’s transport, environment and energy
The European Commission (EC) adopted the 2014 – 2020 Operational Programme for Large Infrastructure in Romania (POIM), announced EC officials. POIM is a major investment package of almost EUR 9.5 billion from EU regional funds. Adding co-financing from the national budget, the program is worth over EUR 11.8 billion to be invested in environmental, energy and transportation projects.
Acorns children raised money for children in Nepal through a colourful and happy event
Over 80 children from ACORNS Nursery managed to raise awareness among parents, teachers, friends and members of community by participating in the fundraising campaign “Together for children from Nepal”. Thus, during a British event organised in the nursery’s garden (Great British Garden Party), children from ACORNS raised 5000 lei, money which will go to Nepal through the “Joy for Nepal” project initiated by Alex Gavan (mountaineer).
Money was raised by selling crafts made by children in Acorns, entrance tickets to the event, through a raffle and different activities held during the event. Also, guests bid for two t-shirts in a silent auction, one signed by the team president of Steaua Basketball team and the other by the team captain of Dinamo Handball team.
“In Acorns we support children’s needs, and this year we gladly joined Alex Gavan’s initiative to support isolated communities in Nepal. Inspired by news of what had happened in Nepal, children in Acorns were involved in creating crafts which were made available for sale and were very proud to help rebuild schools in Nepal”, says Valentina Secara, General Manager ACORNS Nursery.
The event was supported by British Romanian Chamber of Commerce, Netherlands Romanian Chamber of Commerce and The Diplomat, and the sponsors who supported ACORNS with prizes for the charity raffle were British Gallery, Crowne Plaza, DHL, Educational Centre, London Tailor, Peter’s Kitchen Bistro, The Craft Beer and Home Brew Store, The London Street Bistro and Wave Division.
ACORNS launched “Together for children from Nepal” fundraising campaign 2 weeks ago, in order to support the project “Joy for Nepal” (to help isolated communities in Nepal affected by the earthquake) initiated by Alex Gavan (http://alexgavan.ro/nepal/). The fundraising campaign continues, and people wishing to make donations can do so in the following ways: by sending a SMS worth 2 EURO to 8826; by card payment directly on the campaign website www.alexgavan.ro/nepal; sponsorship contracts; or by redirecting 2% of tax. Donations can be made both in Romania and abroad.
About Acorns Nursery
ACORNS Nursery has created a platform of integrated services of early years education dedicated to the child, teacher, parent and community, over the past 10 years based on values such as caring, responsibility and identity. ACORNS Nursery, the first private crèche in Romania with a British curriculum, is involved in CSR projects which focus on children, education and care. ACORNS Nursery is the first organisation in Romania certified as an Investor in People and was presented with the Every Child Matters Standards Award. For more information, visit www.acorns.ro
About ”Joy for Nepal” project
“Joy for Nepal” campaign was launched on 19th May 2015 and still goes on. The campaign will last for 7 weeks and 9 days, the amount of time corresponding to the measurement in degrees of the first earthquake that destroyed this country, on 25th April 2015, when Alex Gavan was in Everest Base Camp/ Lhotse, during his expedition to climb the Lhotse peek (8516m)
All money raised by the campaign will reach people in need in Nepal, through rebuilding projects managed by the Kharuna-Shechen organisation, founded by renowned author Matthieu Ricard. Rebuilding activities will be financed such as rebuilding schools, clinics, and water sources in communities which were left isolated and damaged by the earthquake. Investment will also be made in local networks and future leaders - including women - who can take over and continue rebuilding communities thus preventing future dependency on external assistance.
Depending on need, up to 25% of the funds may finance emergency interventions.
Funds won’t be used to cover administrative expences, since the fundraising campaign is pro-bono, involving people and organisations in Romania who want to contribute; Karuna-Shechen has all its administrative expenses covered by its own financer.
Activity reports will be published in a transparent way on campaign website www.alexgavan.ro/nepal, tracking the use of funds, achievements and progress made.
 The amount allocated to this cause is 2 EURO. No VAT is levied for subscription donations. In Orange and Telekom Romania mobile networks for prepaid cards, VAT was retained when purchasing the credit. For donations from prepaid cards Vodafone network users do not pay VAT. SMS campaign developed with the support of Orange, Telekom Romania Mobile, Vodafone and ARC.
Internal Audit - A need in today’s business world
As more and more businesses try to survive in today’s challenging environment, only those able to effectively respond to the ever-increasing demands of the business world will develop and prosper. With mounting pressure and increasing risks in every industry and area of activity, businesses are in need of robust internal controls and procedures to shield themselves from potential exposure. See more
Investing in Romania 2015
Investing in Romania 2015
The year 2015 also brings extensive changes in the areas of taxes, dues and social contributions in the Central and South Eastern European countries.
TPA Horwath offers an overview of the most important innovations in the following CEE/SEE countries: Albania, Austria, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia and Slovenia.
A structured overview of the tax systems of these countries is available in our brochures „Investing in ...“ published annually in English and German by the TPA Horwath Group.
Successful businesses in work offices specially designed for your needs
Success is directly linked to the office address and with the facilities one has when he does brainstorming with the team or when one has a business meeting. Regus’ latest studies revealed the fact that 68% out of those 44 000 surveyed businessmen claim that working outside the office encourages creativity and supports performance. The digital era also has a heavy say, considering the fact that the majority of the interviewed ones use social networks and online storage. A Regus study points out the fact that globally, the main means for instant messaging is Skype (60%), followed by Whattsapp (54%) and Facebook (48%). In terms of data sharing, Dropbox seems to be the perfect solution for Romanians (54%), followed by Wetransfer (51,6%) and Google Drive (47,2%). Irrespective of the size, provenance or the point in which the company is to be found in its way to success, the Regus offices have a solution.
Regus meeting rooms
A job stands in need of a complex relationship between the individual and the collective, between individual or collaborative work that requires an appropriate working space and a flexible and adaptable atmosphere. So far, all Regus studies revealed the fact that productivity is linked to the working space. At home, each one’s office is arranged after one’s personal structure in order to stimulate the productivity and the creativity. But, when a team needs an atypical space, what are the solutions that one can find? Regus meets the companies with more than 5500 meeting rooms in 104 countries. The advantage of the Regus virtual offices is that one can arrange the way one wants or depending on the needs.
The layout that would best fit one’s team
When talking about productivity, interaction is the keyword to it. That’s why the setup and the facilities which an office offers are important as well. Regus provides meeting rooms, perfect for official meetings and conferences. The negotiations can be held in an informal place, but still professional. The classrooms bring a touch of originality in business and increase the productivity. It’s a well known fact that the seniors and juniors have different ways of working, the first ones are being used to collaborating, while the employees from the second category are more focused on each task separately. A flexible and adaptable environment creates the ideal work atmosphere for different personalities and jobs as well.
The rigorous environment of the cubic offices can be overcome with the U-shape meeting rooms that allow and encourage open discussions.
The Regus virtual offices are built to provide the companies more options regarding the usual working environment, options that are more efficient and effective. Moreover, in every Regus meeting room one can find specialized staff ready to help, so one can have the comfort of a personal office without losing time with the administrative or technique aspects. The Internet connection is flawless, every meeting room has a telephone with speakerphone function and the flipchart, the whiteboard and the markers are always at one’s hand. For a productive day, dedicated to success, we are waiting for you to do your schedule with Regus.
ING Bank reports EUR 18.5 mln profit in Q1, up 9 pct
ING Bank Romania registered in Q1 2015 a net profit of RON 82 million (EUR 18.5 million), up by 9 percent compared to the same period last year and the loan portfolio increased by 12 percent over Q1 2014 reaching RON 11.387 million (EUR 2.6 million).
According to a press release, the market share in lending rose to 4.9 percent in 2015 from 4.6 percent in Q1 2014 and the market share in attracted funds amounted to 6.1 percent compared to 5.5 percent in the same period of the previous year.
The cost/income ratio has improved compared to the same period the previous year, decreasing by 56 percent in Q1 2015 compared to 60 percent in Q1 2014. This improvement is due to the fact that the positive evolution of the revenues exceeded the costs’ increase.
Total costs recorded an increase of 9 percent, which is generated by the investments in technology from the first period of 2015. Thus, the total costs in Q1 2015 reached RON 134 million (EUR 30.2 million) compared to RON 123 million (EUR 27.7 million) in the same period of the previous year.
The loan portfolio increased by 12 percent to RON 11.387 million (EUR 2.6 million) compared to RON 10.192 millions (EUR 2.3 million) in Q1 2014, the increase being influenced by the activity on all customer segments, with a significant contribution (50 percent) of the mid corporate and SMEs customers.
The market share in lending rose to 4.9 percent compared to 4.6 percent in Q1 2014, being recorded an accelerated growth in RON lending. Of the total portfolio, the share of lending in RON rose to 50 percent in Q1 2015 compared to 45 percent in the same period of 2014.
The attracted funds also rose to RON 14.559 million (EUR 3.3 million), up 13 percent against Q1 2014, evolution due mainly to the growth registered in the retail segment where both the number of depositor customers and the average value of per client funds increased.
In the first quarter of 2015 the bank won 44,000 new individual customers to whom adds a portfolio of clients active both on traditional and on digital channels.
Aegon Romania reports 96 pct increase in underwritings in Q1
Aegon Romania registered in the first quarter of 2015 a 96 percent increase in gross written premiums compared to the same period last year, to the level of RON 14.51 million (EUR 3.3 million).
Q1 results come after a period in which the company maintained the growth rate of new policy sales and completed Eureko portfolio integration.
Globally, Aegon recorded in the first quarter of 2015 revenues worth EUR 2.75 billion, up 32 percent compared to the first quarter of 2014. Also in the first quarter of 2015, Aegon reported a profit of EUR 469 million and a significant increase in the volume of damages granted to the US market (Business Review).
CBRE: this year’s leasing activity with industrial and logistics space to surpass 2014 level
The total leasing activity (TLA) with industrial and logistics space amounted to 431,000 sqm in 2014, up by 39 percent compared to 2013, according to data from commercial real estate services firm CBRE Romania. This year the TLA is projected to surpass last year’s level.
Both logistics players and manufacturers will be driving this growth said Dana Bordei, head of industrial agency with the firm. More and more retailers are looking to open logistics hubs outside Bucharest, especially in the western part of the country. Demand for industrial space outside the capital too will maintain its upward trend in 2015, she added. The availability of local labor force at attractive costs is the main factor manufacturers consider before opening production facilities in Romania. Such was the case of Japanese automotive parts producer Yazaki which leased last year a built-to-space project in Braila (16,000sqm – 45,000 sqm in WDP Braila).
However, in order for this trend to maintain its momentum, it is important on the long-run for the country to invest in the educational system so that it can offer better qualified workers able to manufacture more labor-intensive products, said Bordei. Otherwise, such companies will easily relocate local operations to cheaper locations once the local market becomes too expensive, she warned.
Out of last year’s 431,000 sqm TLA, 26 percent represented relocations, 25 percent represented pre-leases, 23 percent were renewal transactions, 3 percent was new demand, expansions represented 3 percent, the acquisition of distressed assets 11 percent and owner occupied space represented another 11 percent. Some 30 percent of the space leased last year (different types of transactions) was in Bucharest, the same as in Timisoara (30 percent), followed by Ploiesti (20 percent), Arad (6 percent), Oradea (5 percent), Deva (5 percent) and Braila (5 percent).
Half of the space leased last year was for warehouses, 34 percent for manufacturing and the remaining 16 percent for logistics.
The largest transaction closed last year was Continental’s pre-lease of 45,000 sqm for a warehouse/logistics unit in Timisoara Airport Park.
Romania’s stock of industrial and logistics space amounts to 3.26 million sqm (within privately owned industrial parks). Some 25,000 sqm will be delivered this year. Last year’s average vacancy rate in Bucharest was 11.3 percent (124,000 sqm available) while outside the capital this stood at between 10 percent and 14 percent (170,000 sqm available)
Prime headline rent for greater Bucharest dropped to EUR 3.8 percent/sqm/month in 2014 while outside the capital this stood at between EUR 3.4/sqm/month and EUR 3.8/sqm/month. Service charges range between ERU 0.75/sqm/month and EUR 1/sqm/month, according to CBRE.
On the industrial and logistics market CBRE had last year a 62 percent market share (out of the entire stock leased through real estate services firms). It brokered transactions totaling (50,500 sqm) and in the first quarter of this year it brokered another 36,000 sqm, according to company data.
Telekom Romania appoints new CTO
Starting with May 1st, Timos Tsokanis (in picture) will take over the position of Chief Technology and Information Officer Telekom Romania, after an interim period of three months on the same position, the company announced in a press release.
Tsokanis has 20 years of experience in the telecom sector, both in technology and in commercial organizations. Having worked within the Telekom group for more than six years, he dealt with the transformation and modernization of network and IT operations and systems consolidation in two countries.
Tsokanis is leading one of the most extended teams within Telekom Romania, one of the key objectives of this team being to enhance the efficiency of the modernization activities of the networks and existing technologies.
In this way, the company’s technology leadership is ensured in order to maintain a solid connection with Telekom Romania’s customers.
Recently, Telekom Romania Communications put up for sale or partial re-letting 24 properties in Bucharest and seven other cities at a starting price of EUR 26.3 million.
This move is part of the strategy for 2015 that Telekom Romania announced in March.
The company officials announced Telekom would sell this year its real estate assets in order to concentrate on its core business. “A sum of EUR 25 million could be used to cover 350,000 households in Romania with fiber or to pay 1,500 employees of Telekom Romania,” said Nikolai Beckers, CEO of the company.
Cash payments: new thresholds as of May 9
As of May 9, 2015, cash payments exceeding certain amounts will be banned for transactions between companies and natural persons, as well as for collections made by companies from natural persons or other companies. Thus, the scope of the operations and the concerned entities was enlarged in relation to the provisions of the former Government Ordinance no. 15/1996. These new provisions were introduced by Law no. 70/2015 aiming at strengthening the financial discipline related to cash payments and collections, repealing Government Ordinance no. 15/1996. These amendments are presented to you hereinafter.
LIMITATION OF CASH PAYMENTS: WHO IS AFFECTED?
In accordance with Law no. 70/2015, cash payments and collections between legal persons, self employed persons, individual companies, family companies, natural persons carrying out independent activities or other entities, either natural or legal persons, will only be performed by noncash payment instruments.
As regards transactions between natural persons, cash payments or collections performed following ownership transfers, service supply, as well as those representing the a credit or a reimbursement thereof will be performed within the limits of a daily threshold of 50,00 lei / transaction.
Nevertheless, the Law introduces a number of exceptions from the abovementioned rules. Thus, a number of thresholds for cash payments or collections are introduced. Therefore, cash collections from the economic operators provided by paragraph 1 of the Law (listed above) are allowed within the limits of a daily threshold of 5,000 Lei / paying economic operator and are limited to a total threshold of 10,000 Lei per day.
Hence, Cash & Carry stores, such as Carrefour, Cora, Metro etc. cannot collect more than 10,000 Lei in cash from an economic operator (trader). The 10,000 Lei per day restriction is also applied to natural persons, who are not entitled to make cash payments above this value at a single store.
Economic operators (traders) can make cash payments to a natural person within the limit of 10,000 Lei per day per person for a series of operations, such as the payment of dividends or the purchase of a good from another natural person etc.
Please note that the Law prohibits partial collections or payments as long as such operations aim at avoiding the 5,000 Lei or the 10,000 Lei threshold. For example, an economic operator wishing to pay in cash an invoice exceeding 10,000 Lei can only pay 10,000 in cash and the difference must be paid by noncash payment instruments.
The same is applies to natural persons, who are not allowed to split payments for transactions exceeding 50,000 Lei or to split a transaction exceeding 50,000 Lei.
Non-compliance with the provisions regarding the thresholds applicable to collections and payments is punished by civil sanctions. Such sanctions suppose the payment of a fine representing 10% of the amount collected / paid exceeding the thresholds set forth by Law no. 70/2015, but no less than 100 Lei.
A more severe fine (from 3,000 to 4,500 Lei) is applied to economic operators granting any kind of advantages to their clients, so as to convince them to pay in cash.
GRUIA DUFAUT Law Office
LAWYERS (PARIS & BUCHAREST)
Young Managers Program
NRCC Members benefit from a discount of 5% at enrollmentin in this program!
Book your meeting or event at Angelo Airporthotel Bucharest
Great opportunity for Dutch speakers at DB Schenker
Two Romanian ultramarathon runners supported by Dutch companies are running the toughest footrace o...
Marathon des Sables, a grueling 250 km adventure through one of the world’s most inhospitable landscapes - the Sahara desert, starts on Sunday, April 5th. Daily legs of over 30 km – the longest one, called "the mythical leg" has over 90 km!, heat of over 50 °C, endless dunes, rocky mountains, that's what awaits Paul Dicu (supported by NN) and Marian Vasile (who has the support of his employer, Philips). They will carry on their back everything they need for the whole week (survival kit, clothes, sleeping bag, food – about 11 kg), the race only provides shelter in Berber tents, medical assistance and strictly rationalized water portions.
It is Marian Vasile's first attempt, while Paul Dicu is participating for the 5th time already and they both dedicate their runs to supporting the mission of the Heart of Children Association (Inima Copiilor) who are doing a wonderful job in helping children with cardiac problems, their families and the doctors who care for them in Romania’s largest children's hospital – Marie Curie in Bucharest.
By supporting Paul Dicu's participation, NN will finance surgical missions at the Cardiac Surgery unit of the hospital whereas Philips, who is sponsoring Marian Vasile, will contribute with medical equipment.
We are encouraging you to join them by becoming a sponsor for Inima Copiilor or to contribute with a personal donation (www.inimacopiilor.ro/marian) or you can even "donate" a few kilometers you run while exercising in the morning, kilometers which are "repaid" by NN with a donation for the children of 2Euro/km (www.inpascupaul.ro).
We'll keep you updated with news about marathon des Sables and the two daring runners and we kindly thank you for your support!
A way to use money from taxes
Public institutions and authorities, juridical persons (public or private) that have at least 50 employees, are obligated to employ persons with handicap in a percentage of at least 4% of the total number of employees, otherwise they may also choose to pay a certain amount to the state or purchase products or services provided by persons with handicap, employed in authorized protected units, based on a partnership agreement, in the same amount owed to the state budget. The simplified formula which shows you the ammount companies have to pay is: 0,04 x 487,5 x no of employees.
Our member, Complete Training, can help you use this tax for buying the following services: recruitment services, HR and business consultancy, soft-skills trainings, English Courses, Romanian Language Courses for Foreigners, Translations RO-EN, EN-RO.
For more info you can contact Adela Marin at email@example.com
Unfair commercial practice: new rules
Trader’s unfair practices towards consumers are sanctioned in Romania by Law no. 363/2007, transposing Directive no. 2005/29/EC of the European Parliament and of the Council. In response to the European Commission’s comments regarding the correct transposition of the abovementioned Directive, the Parliament has recently passed Law no. 33/2015 (Official Journal no. 170 of March 11, 2015). This law brings forth new criteria for determining an unfair commercial practice and increases the amount of the fines applicable to traders if they resort to such practices. These amendments are presented to you briefly hereinafter.
MISLEADING COMMERCIAL PRACTICES
Law no. 363/2007 lists several practices deemed misleading in any circumstances, such as: a trader pretends to have signed a code of conduct that it has not signed, displaying a quality certificate or label without obtaining the necessary permit, falsely declaring that a product or a service is only available for a very short period of time or that such product will only be available on particular terms for a very short period of time etc.
Before Law no. 33/2015 was passed, the law did not distinguish between fines applicable to misleading or aggressive commercial practices, although both these practices are considered unfair commercial practices. In accordance with Law no. 363/2007, unfair commercial practices were sanctioned by a fine between 5,000 Lei and 50,000 Lei.
From now on, misleading commercial practices are punished by a fine between 5,000 and 100,000 Lei (the maximum amount was doubled).
As for the amendments related to the criteria for deeming an action as an aggressive commercial practice, in accordance with the new rules, the implementation and promotion of pyramid scheme is considered an aggressive commercial practice only if consumers provide a counter benefit in exchange for the possibility to receive an amount of money – the amount coming from the entry of new consumers in the system rather than from the sale or consumption of products.
AGGRESSIVE COMMERCIAL PRACTICES
According to Law no. 363/2007 commercial practices are deemed aggressive if they are intended to give the consumer the impression that he will not be able to leave the premises of the trader before a contract is concluded, repeated visits to the consumer’s residence despite the latter’s request for the trader to leave his premises, repeated and unwanted telephone calls, fax, e-mails or any other means of telecommunication, explicitly informing consumers that if they do not purchase a product or a service the trader’s employment or livelihood are put at risk.
In accordance with Law no. 33/2015, aggressive practices are sanctioned by a fine between 2,000 Lei and 100,000 Lei.
Under the former regulations, traders giving consumers the impression that they had already won or that they would win a prize or any other equivalent benefit if they paid an certain amount of money were considered guilty of aggressive practices. Therefore, such practice was considered aggressive only if the prize subject to the obligation to pay an amount of money.
From now on, a practice is deemed aggressive only based on the simple fact that a consumer has to take a certain action in order to claim the prize or the equivalent benefit while being conditioned by the payment of an amount of money. Furthermore, as ruled by the EU Court of Justice in Case no. C-428/11: „It is also irrelevant that the trader offers the consumer a number of methods by which he may claim the prize, at least one of which is free of charge, if, according to one or more of the proposed methods, the consumer would incur a cost in order to obtain information on the prize or how to acquire it.”
We hope this information was useful to you!
GRUIA DUFAUT Law Office
LAWYERS (PARIS & BUCHAREST)
New financing opoortunities for agricultural businesses
Dear clients and partners,
The Agency for Financing Rural Investments (AFIR) has published the consultative versions of the Guidelines for Sub-measure 4.1 “Investments in agricultural holdings” and Sub-measure 6.1 “Business start up aid for young farmers”.
The sub-measure 4.1 “Investment in agricultural holdings” provides financial support to projects aiming: to improve the general performances of the farms, to facilitate restructuring and modernization of small or medium size farms, to increase market and commercial orientation, to reach community standards, to increase the added value of the agricultural products by processing them at the farm level, to encourage the direct commercialization, setting up and promoting an integrated food chain.
Eligible beneficiaries: authorised individuals, individual company and family businesses, general partnership company (SNC), limited partnership company (SCS), joint stock company (SA), limited liability company (SRL), company with private capital, research and development institute, agricultural company, agricultural cooperative society, agricultural cooperative, producer group ,etc.
- Construction, extension, modernisation and endowment of the productive buildings inside the farm ;
- Refurbishing and endowment of the spaces for commercialisation and delivery and marketing costs within an integrated food chain ;
- Puchasing of new machines, equipment, tools etc ;
- Purchasing (leasing is allowed) of compact transport means
- The establishment of plantations for table grapes and other perennial plantations;
- Expenditures generated by meeting standards and compliance with new standards imposed by EU legislation ;
- Purchasing / development of software, purchasing of licences, patents, copyrights.
Maximum value of the non-reimbursable financing is different depending on farm size and project type, and it can be for certain projects up to maxim 2 mil EUR /project.
The maximum financing percentage can be between 30-50% from the eligible costs, depending on the project type and the farm size. The intensity of non reimbursable financial support can increase up to maximum 90% according to certain criteria.
More information on these guidelines can be found here: www.madr.ro
VAPRO can assist you in developing successful projects!
To stay updated with the latest information on grants, please visit our website regularly http://www.vapro.ro/en/.
STATE AIDS: NEW RULES
In January 2015, Government Ordinance no. 117/2006 on national procedures applicable to State aids was repealed by Emergency Ordinance no. 77/2014. This latter legislative act aims at implementing a European reform in the State aid system, with the objective of granting member States the possibility to settle State aid related issues at the national level, while the Commission only performs an ex-post control of the conditions imposed by the EU in this domain.
The Law no. 20/2015, approving Emergency Ordinance no. 77/2014, was passed (published in the Official Journal no. 160 of March 6, 2015). It brings forth several amendments to the abovementioned Ordinance, briefly presented to you hereinafter.
Any measure susceptible of representing a State aid or a minimis aid must be accompanied by a memorandum approved by the Government, certifying that such measure is part of the economic and financial policies of the Romanian State.
Nevertheless, EU-funded measures, as well as those measures funded by the local public authorities can be passed without obtaining the abovementioned memorandum.
Ordinance no. 77/2014 provides that measures initiated by local authorities must be accompanies by the proof that the County Governor and the County Council were notified with respect to the intention to pass a measure susceptible of being considered a State aid.
Further to the adoption of Law no. 20/2015, after receiving this notice, the County Governor has several obligations.
Thus, when performing the review of the legality of the documents issued by the local authorities for the adoption of such measures, the County Governor has to check the existence of the approval of the Competition Council. For minimis aids (aids limited to amounts that do not influence competition / trading with the member States), the County Governor must also check compliance with State aid regulations.
If local authorities pass measures providing an economic advantage to a company without the approval of the Competition Council, the County Governor must request the Council’s opinion on the applicability of State aid national and European legal rules.
MEASURES REGARDING ILLEGAL AIDS
Following the entry into force of Law no. 20/2015, Ordinance no. 77/2014 was supplemented by the provisions regulating measures to be passed by Romanian authorities if the Commission has initiated an investigation regarding the illegal granting of a State aid.
Thus, if the Commission initiates an investigation regarding an illegal State aid, the State aid provider must request the establishment of precautionary measures over the assets of the State aid beneficiary, in accordance with the provisions of the Code of Fiscal Procedure. Such measures must be established over assets with the same value as the State aid analysed by the Commission.
On the other hand, if the State aid provider was forced by a Court decision or by an arbitration decision to grant the State aid, all enforcement procedures of such decision are automatically suspended right after the date of communication of the decision regarding the initiation of the investigation.
Consequently, State aid providers will have to inform the beneficiary, the bailiff and third parties subject to seizure/garnishment of the European Commission’s decision to start an investigation.
Decisions of the European Commission ordering the recovery of an illegally granted or abusively used State aid are enforceable titles for the recovery of such funds by the aid provider.
We hope this information was useful to you!
GRUIA DUFAUT Law Office
LAWYERS (PARIS & BUCHAREST)
Jobs for Dutch speakers
Honeywell is now hiring candidates with dutch language skills. The open roles are the following:
- Technical Support Engineer;
- Customer Support Specialist;
- Credit Controller;
Interested candidates should send the resumes to firstname.lastname@example.org
Telekom Romania develops digital projects with three online agencies
Starting October 2014, Telekom Romania has been developing digital marketing projects and campaigns together with three online agencies – iLeo, Interactions and Kinecto.
The three agencies will provide online creative services, ensure technical development and execution, performance optimization, development of online campaigns tailored to Telekom’s digital communication strategy.
Join the UN Global Compact Romania Network
NRCC supports the Embassy of the Kingdom of the Netherlands in Bucharest and The CSR Agency to launch the United Nations Global Compact Network in Romania
On April 17th 2014, The CSR Agency received a mandate from the United Nations Global Compact Office in New York to establish a Global Compact Local Network in Romania (GCRo). The Embassy of the Kingdom of the Netherlands in Romania has joined the project and committed support to the network development and official launch in 2015.
With over 12.000 corporate participants and other stakeholders from over 145 countries, The UN Global Compact is the largest voluntary corporate responsibility initiative in the world. Endorsed by chief executives, it is a practical framework for the development, implementation, and disclosure of sustainability policies and practices, offering participants a wide spectrum of work streams, management tools and resources — all designed to help advance sustainable business models and markets.
Around the world, UN Global Compact acts through a series of regional and local networks. Romania is one of the few European countries in which Global Compact doesn’t yet have an established Local Network to promote and sustain the ten principles that represent its core values, and this is an excellent opportunity for you to contribute to its launching and success.
A network in Romania would be the alliance for sustainability of mainly business orientated organizations. It will offer, alongside know-how on corporate responsibility reporting, a great opportunity of networking with other business leaders that are endorsing the Global Compact. Acting as Global Compact participant, any organization will also do the most important and effective step toward complying with the newest European directive on non-financial reporting. With regard to reporting, Global Compact is one of the framework initiatives recommended by the European Union, the largest and the most flexible one.
Members of NRCC who want to join this project are invited to contact The CSR Agency, at Tel. 0735 010 099 and E-mail email@example.com. They will be then guided through the process of first becoming a Global Compact participant and then members of the Local Network.
ING Bank profit up 19 pct in 2014, provision costs down
NG Bank Romania registered last year a gross profit of RON 340 million (EUR 76.3 million), up 19 percent against 2013, while the provisions’ costs went down by 40 percent, to RON 71 million (EUR 15.9 million).
According to Mediafax, the bank’s revenues rose by 4 percent to RON 918 million (EUR 206 million).
In 2013, ING Bank Romania revenues amounted to RON 883 million (EUR 198 million) and recorded provision costs of RON 118 million (EUR 26.4 million), yielding a gross profit of RON 287 million (EUR 64.4 million).
Operational costs saw last year a 6 percent increase, generated by investments in technology and IT infrastructure, reaching RON 507 million (EUR 113.8 million), from RON 478 million (EUR 107.2 million) the previous year.
The cost / income ratio stood stable at 55 percent in 2014 compared to 54 percent in 2013.
“In 2015 we will pursue the growth strategy, we will strengthen the mature retail and corporate divisions and will continue the accelerated growth in the SME segment,” said Michal Szczurek, CEO ING Bank Romania.
The bank had at the end of 2014 938,000 active clients. The number of retail clients increased by 9 percent and SME segment grew by 46 percent.
ING ranks seventh among the banks present in Romania, with a market share of 5.73 percent.
CASH REGISTERS AND LARGE TAXPAYERS: NEW FISCAL RULES
After the changes applicable since February 1st, 2015, new rules became applicable further to the publishing of Order no. 159/2015 of the Ministry of Finance and Orders no. 467/2015 and 360/2015 of the President of the National Agency for Tax Administration (hereinafter referred to as “ANAF”). On one hand , these orders refer to the obligations of agents who use electronic cash registers to display an advertisement for their customers and, on the other hand, the adoption of a procedure for the fiscal management of large taxpayers, as well as the status of unpaid tax obligations under a certain threshold.
OBLIGATIONS OF OPERATORS WHO USE ELECTRONIC CASH REGISTERS
As of March 1st, 2015, economic operators obliged to use electronic cash registers will have to display a poster for their customers near the cash register. In accordance with Order no. 159/2015 of the Ministry of Public Finance, this poster will have to advise customers of their obligation to request a receipt if such receipt is not automatically issued by the vendor.
Moreover, the poster will indicate that, if the operator refuses to issue the receipt, customers are entitled to obtain the purchased good or service for free. The poster must also provide that the receipt is the only document to be issued to the customer when purchasing a product or a service. Furthermore, restaurants, nightclubs or other similar establishments will be obliged to display this message not only near cash registers, but also on menus, in order for it to be visible to customers.
PROCEDURE FOR THE FISCAL MANAGEMENT OF LARGE TAXPAYERS
The procedure for the fiscal management of large taxpayers was approved by Order no. 467/2015 of the ANAF President in order to increase the efficiency of the fiscal management of large taxpayers and to improve budget revenues collection.
Thus, the Order provides that tax inspections of large taxpayers will be performed by the inspectors of the General Directorate for the Management of Large Taxpayers. This Directorate will also be in charge of inspections performed at the taxpayer’ secondary offices. This mention is very important because courts have often canceled control documents issued by the tax authorities who did not have the competence to verify the activity of large taxpayers.
As regards tax returns of large taxpayers who have secondary offices, such taxpayers must declare the tax for salary revenues or for revenues assimilated to salaries (including taxes on the salary revenues payable by employees working at the secondary offices) to the General Directorate for the Management of Large Taxpayers.
OTHER RULES FOR FISCAL DEBTS UNDER 40 RON…
In accordance with Order no. 360/2015 of the ANAF President, if taxpayers’ accessory tax obligations (such as penalties/delay interest) do not exceed 40 Lei, the tax authority will not issue a decision for such obligations.
These provisions apply to all taxpayers (large, medium, natural persons). Moreover, if the due tax debts do not exceed 40 Lei, the tax authority will not issue a payment notice or an enforceable title.
LeasePlan plans to have a 10-15 pct growth this year
LeasePlan Romania forecasts that company’s business will grow this year by 10-15 percent compared to 2014 when it amounted EUR 42.2 million and the vehicles’ portfolio under management will be close to 11.000, from 10.400 at the end of last year.
According to Mediafax, LeasePlan Romania general manager Bogdan Apahidean said he estimates EUR 50 million in turnover for 2015. “During the current year, out of LeasePlan’s total number of contracts will expire 3.000 and we expect 80 percent of these to be renewed,” also said Apahidean.
The company has launched a product of operational leasing for small and medium enterprises (SMEs), with no payment in advance, which reduces costs by nearly 20 percent compared to other financing and administration methods, such as financial leasing, bank loan or full payment purchase.
Apahidean added that, by the end of this year, he is expecting to close about 30 contracts for 100 vehicles. (Business Review)
- Floral catalogue for 1-8 March 2015
We are the communication specialists for Blaxy Premium Resort
Specialist în Comunicare has become the PR partner of Blaxy Premium Resort. Together we will communicate about the people behind this brand project, what brings new to Romania’s real estate market and what are the reasons to choose a vacation house, in an unique 5-star resort, located at the Black Sea.
Blaxy Premium Resort is located near 23 August, a village at only 1 km north distance of Olimp, in a setting where the Black Sea meets pristine beaches with fine sand and Tatlageac lake, bordered by forest .
Beside privacy, serenity, harmony, premium services and lots of facilities, by contracting in advance a condo, you become part of a select community with privileged access and discounts at: restaurants, bars, clubs, spas, health center, children's and seniors club, private beach and swimming pools.
So, through an investment ranging between 3,750 and 4,250 euro, you’ll have a vacation house for life, one week every year, with full rights, through periodic property.
Learn more about this project by visiting the following movie:
New collaboration: LeasePlan and Heineken sign contract
LeasePlan Romania and Heineken, two of the large Dutch owned companies active on the Romanian market, have signed an operational leasing contract for 25 cars. “We are happy to have such an important client in our portfolio and will try to extend our partnership in the coming years.” stated Bogdan Apahidean, LeasePlan Romania’s Managing Director.
LeasePlan is a Dutch financial services company focused on operational lease and fleet management services for companies. Established more than 50 years ago, LeasePlan is currently the world leading provider of fleet management services.
The company employs more than 6,500 people, manages a fleet of 1.36 million multi-brand vehicles and operates in 32 different countries, including traditional operating lease marketplaces or emerging ones. LeasePlan provides its clients with innovative products and quality services and delivers on the company's worldwide commitment: "it's easier to leaseplan."
STATE AIDS: A NEW SESSION STARTING IN FEBRUARY 2015
Government Decision no. 332/2014, passed in May 2014; set forth a State aid for companies who create new jobs in order to promote regional development. This decision was amended in September 2014 and starting from February 2015 it represents again a point of interest, given that a new project funding session was opened.
A NEW FUNDING SESSION
The State aid set forth by Decision no. 332/2014 supposes the reimbursement of the salary expenses generated by the creation of new jobs over a consecutive period of 2 years, following the completion of initial investments in certain areas. The initial investment can be achieved through the creation of a new facility, the extension of the capacity of an existing facility, the diversification of the production of such facility or the fundamental change of a facility’s general production process.
The abovementioned jobs must be maintained for a period of 5 years after their creation, respectively 3 years for small and medium enterprises. Companies creating jobs in the North-West, Centre, North-East, South-Muntenia, South-West, Oltenia regions can benefit from an aid of 50% of the eligible expenses (salary costs), within the limits of 37.5 million Euros.
Thanks to the success of the last session, during which 30 companies were admitted to the second stage of project assessment, companies which will create 3,724 new jobs in the future, the Ministry of Finance recently announced the opening of a new session in 2015; this session will take place between February 2 and February 27, 2015.
Therefore, new funding application can be submitted to the Ministry during the period mentioned above.
MORE PERMISSIVE RULES
While the former version of Government Decision no. 332/2014 provided the compulsory creation of 20 new jobs in order to obtain funding, after the amendments brought by Government Decision no. 784/2014, the number of jobs to be created 3 years after the completion of the investment was reduced to 10, out of which 3 must be created for disadvantaged workers.
Moreover, according to the previous regulation, the State aid had to have a stimulating effect for the company. Consequently, the documentation accompanying funding applications had to prove that the project would not have been achieved in the absence of the State aid.
Following the adoption of Decision no. 784/2014, this condition was eliminated; therefore, the company no longer has to prove the lack of profitability of its investment.
As regards tangible assets (lands, buildings, installations) and intangible assets (patents, licenses, know-how) corresponding to the initial investment, such assets have to be new, except for those purchased by small and medium enterprises.
As a result of these changes, the total number of companies who will be able to benefit from the State aid is estimated at approximately 1,500 – 1,700…
We hope this information was useful to you!
GRUIA DUFAUT LAW OFFICE
THE “TAX ON POLES”, REDUCED FROM 1.5% TO 1% A promise kept by the authorities! That’s the leas...
Starting from 2015, the famous „tax on poles’ or „tax on special constructions”, introduced a year ago, is reduced from 1.5% to 1% following the publication in the Official Journal no. 24 / January 13, 2015, of the Law approving Government Emergency Ordinance no.102/November 14, 2013, modifying and amending Law no. 571/2003 on the Fiscal Code and the regulation of certain financial and taxation measures.
In accordance with the new legal provisions, which shall enter into force as of January 16, 2015, the „tax on constructions is calculated by applying a 1% quota to the value of the constructions existing in the taxpayers’ property on December 31st of the previous year, registered in the accounting documents under the accounts payable section”, which are not expressly excluded by the law.
The tax on constructions is applicable to Romanian legal persons, except for State institutions, associations, research institutes, and to foreign legal persons carrying out their activities in Romania by means of a permanent registered office, as well as to legal persons with their registered office in Romania, incorporated in accordance with the European law.
The following are deducted from the value of the taxable constructions:
- The value of the buildings for which a tax on buildings is due;
- The value of the reconstruction, modernisation, consolidation, modification or extension works performed on leased, operated or used constructions, which are or which shall be transferred in the State or administrative units’ property
- The value of the constructions listed in the “Earthworks performed on arable lands, orchards and vineyards” section of the Catalogue regarding the classification and normal operation durations of fixed assets, approved by Government Decision no. 2139/2004, as subsequently amended;
- The value of the constructions located outside the Romanian border, including those located in Romania’s adjacent area and in Romania’s exclusive economic area, as set out by Law no. 17/1990 etc., as well as the value of the constructions located on the State’s public domain and which are included in the material and protocol resources, constructions managed by RAAPPS, as well as constructions owned by sports clubs – newly excluded by Law approving Government Emergency Ordinance no. 102/2013, modifying and amending Law no. 571/2003 on the Fiscal Code and the regulation of certain financial and taxation measures.
"The reduction of this tax, whose introduction was largely criticised by the business environment, will ease, although not significantly, the tax burden borne by companies. Although the construction tax expense is deductible when determining the income tax, the fact that companies were put in a position to pay considerable amounts of money was still likely to affect their extension and development plans, especially in the present economic situation", declared Loredana Van de WAART, Partner at the GRUIA DUFAUT Law Office.
It is important to note that, if the value of the constructions mentioned by article 29634 of the Fiscal Code increases or decreases during a year, the tax on special constructions is not recalculated and all value changes are taken into account when determining the tax on constructions due for the next year.
Legal persons must calculate and declare the tax on constructions until May 25 (included) of the year for which the tax is due; the payment will be made in two equal instalments, until May 25 (included) and September 25 (included) of the year for which they are due. Moreover, the law provides that taxpayers who cease to exist in the course of a year must pay such tax until the end of the period during which such entity existed. In exchange, newly-created taxpayers owe the tax on constructions starting from the next fiscal year.
According to public information, budget revenues derived from the payment of this tax in 2014 were over 1.5 billion Lei. Despite the promises made at the end of the year by officials promising that the money obtained from this tax would remain to local administrations, the law article regulating the administration of the tax by ANAF was not changed.
Consumer Protection Law in Romania
- Main European Union legislation
In terms of European Union law, the newest and most comprehensive directive on consumer rights is Directive 2011/83 / EC, generically called "The Directive on Consumer Rights", that has entered into force on June 13th, 2014. As of this date the Directives 97/7 / EC on the Protection of Consumers in respect of distance Contracts and 85/577 / EEC on the onsumer protection in respect of Contracts negotiated away from business premises.
This Directive aims to achieve a high level of consumer protection, by standardizing certain aspects contained in consumer contracts, mainly regarding the obligation imposed on pre-contractual information, the form of contracts, the comsumer’s right of withdrawal.
The Directive on Consumer Rights has been implemented into Romanian legislation by Government Emergency Ordinance no. 34/2014 on the consumer protection rights in their relations with enterprises („GEO 34/2014”), which will be briefly reviewed below – point 2.2.
European main legislatio includes other directives aimed at regulating specific aspects of consumer rights, such as:
- Directive 93/13 / EEC on unfair terms in consumer contracts (transposed into Romanian domestic law by Law no. 193/2000 on abusive clauses in contracts between consumers and enterprises – „Law 193/2000”);
- Directive 98/6 / EC on consumer protection in the indication of the prices;
- Directive 2005/29 / EC of the European Parliament and of the Council of 11 May 2005 concerning unfair business practices in the internal market for consumers (generically called "Unfair Commercial Practices Directive") implemented into Romanian law system by Law no. 363/2007 on fighting unfair practices of enterprises in relation with consumers (“Law 363/2007”).
- Main Romanian internal legislation
This summary covers the main internal laws that regulate consumer protection, and includes both general and special legislation, as follows:
2.1. General legislation:
The general consumer protection legislation is represented by:
- Law no. 296/2004 regarding the Consumer Code (further on referead to as the „Consumer Code”);
- Government Ordinance no. 21/1992 regarding Consumer Protection (further on referred to as „GO 21/1992”).
Please find below a very brief presentation of the main obligations that enterprises have in dealing with consumers, in terms of the general legislation mentioned above.
a) obligation to respond for current and future damages caused by the defective products, as well as for damages that are the cumulative result of a defective product and an action or an omission of a third party;
b) obligation to introduce on the market safe products only and, if the normative acts so stipulate, the products must be tested and/or certified;
c) obligation to introduce on the market only products that meet the declared or the prescribed conditions;
d) obligation to stop deliveries or to withdraw from the market or from the consumers the products that have been verified by state authorities or by their own specialists, who have found lack of the prescribed or declared characteristics or that could affect consumers’ life, health or security, if such measure represents the single one that may lead to non-compliances elimination;
e) obligation to ensure, in the course of production, sanitary conditions in accordance with sanitary regulations.
f) obligation to inform the consumers - all enterprises have the obligation to provide the consumers with all information needed for them to express a valid consent at the conclusion of the contract, and in order to proper enforce the obligations assumed. Mainly, the manufacturers/importers must inform the consumers about the product name and / or trademark of the manufacturer, quantity and, where appropriate, the validity / date of minimum durability or deadline/durability, the average duration of use, the main technical and qualitative features, composition, additives used, possible risks foreseeable conditions of use, handling, transportation, storage, preservation or storage, contra-indications.
g) obligation to assure product safety and to offer genuine products; according to the Consumer Code, the import, manufacture, distribution and marketing of counterfeit or fake, dangerous or which can affect the life, health or safety of consumers are prohibited. Also, product packaging must ensure the integrity and protection of their quality.
2.2 Special legislation:
Special legislation covers particular areas of consumer protection, among which we will very briefly present below the laws governing the:
- protection of consumers against unfair terms of contracts with enterprises (according to Law 193/2000);
- consumer protection in distance contracts and contracts negotiated away from business premises (according to GEO 34/2014);
- guarantees for the conformity of products (according to Law no. 449/2003 on the sale of goods and associated guarantees – „Law 449/2003”);
- fight against the unfair preactices of enterprises in relation with the consumers (according to Law 363/2007);
- protection against misleading and comparative advertising (according to Law no. 158/2008 on the misleading and comparative advertising – „Law 158/2008”).
A summary of the main obligations of enterprises, in the particular fields of consumer protection, is presented herein below:
a) Any contract between professionals (enterprises) and consumers for the sale of goods or services shall include clear, unequivocal contractual terms, which do not require any special expertise or knowledge for their understanding.
Under Law 193/2000 a clause is regarded as unfair if it meets the following conditions:
- It was not negotiated directly with the consumer (a contractual term will be deemed not negotiated directly with the consumer if it was determined without giving the consumer the possibility to influence its nature, such as pre-formulated standard contracts or the general conditions of sale applied by enterprises on the relevant product or service market);
- By itself, or together with other provisions of the contract, shall, to the detriment of the consumer and contrary to the requirements of good faith, create a significant imbalance between the rights and obligations of the parties.
Unfair terms contained in the contract and found either personally or through authorized bodies in law will not take effect on the consumer, and the contract will be further on performed only with the consumer’s consent, to the extent that, upon removal of those clauses, the contract is still able to be performed.
Most recent regulation in the area of distance contracs and contracts concluded outside the business premises was established through the GEO 34/2014, which stipulates a series of additional particular obligations of enterprises, among which we mention:
b) Enterprises must provide complete information to consumers in the pre-contractual stage.
Besides the basic information to be provided and under general laws, in distance contracts and in those concluded away from business premises, the obligation to inform is extended.
Among the additional information to be provided in a clear, readable and understandable way, we mention, by example: telephone number, fax number and electronic mail address at which the enterprise can actually be contacted in order to enable consumers to quickly contact the economic agents and communicate with them effectively; existence and conditions of after sale service and commercial guarantees; duration of the contract or conditions of termination of the contract and applicable penalties; where there is a right of withdrawal, conditions, limits and procedures for exercising those rights etc.
c) Enterprises must ensure the consumers’ right to withdraw from these contracts
The consumers have a period of 14 days to withdraw from a distance contract or from a contract concluded away from business premises, without having to justify their decision to withdraw and without incurring any costs, other than the direct cost of returning the products.
d) Limitation and transparency of costs incurred by consumers.
GEO 34/2014 prohibits enterprises from charging fees on consumers, for using a specific means of payment, that exceed the actual cost the enterprise has to pay for the use of such methods of payment.
e) Guarantee for the conformity of products. The obligations around guaranteeing the conformity of products are regulated by Law no. 449/2003, according to which the seller is obliged to deliver consumer products that are in conformity with the sale purchase contract. In case of lack of conformity the consumer has the right to require the seller to repair or replace the product, free of charge, or to receive appropriate price reduction, or to ask for termination of the contract related to the respective product.
The guarantee is legally binding on the offeror, under the conditions specified in the warranty statements and the related advertising. Contractual clauses or other agreements reached between the seller and the consumer before the lack of conformity is known by the consumer and notified to the seller, that limits or removes, directly or indirectly, consumers rights provided by this Law, are null and void.
f) Fight against the unfair commercial practices of enterprises in relation with the consumers. Law 363/2007 aims at a better functioning of the market and at ensuring a high level of consumer protection, by regulating the commercial practices which may affect the economic interests of consumers.
Under Law 363/2007 a commercial practice is considered as unfair if:
- it is contrary to the requirements of professional diligence;
- it distorts, or it is likely to significantly distort, the economic behavior of the average consumer that is targeted by that practice, or of the average member of a group of consumers, when a commercial practice is addressed to a certain group of consumers.
g) Misleading and comparative advertising. The purpose of Law 158/2008 is to protect consumers against misleading advertising and to regulate the conditions under which comparative advertising is permitted.
TPA Horwath Romania launches fourth yearly report on renewable energy sector in Romania
The Wind Energy and Other Renewable Energy Sources in Romania report is an efficient business intelligence tool for investors and analysts in the field. It provides key information on the renewables sector in Romania from a European and global perspective, while addressing both financial and legal issues, as well as the operational context. The 2014 edition of the report contains the latest figures for the wind energy market and also includes an assessment of other renewable energy sources, such as solar, hydro, biomass and geothermal.
In light of the many legislative changes introduced in 2014, this latest edition of the Wind Energy and Other Renewable Energy Sources in Romania report provides a comprehensive overview of the regulatory environment, financing sources, investor challenges and business limitations on the Romanian market.
This report is published in cooperation with the law firm Schoenherr and the Romanian Wind Energy Association.
Click here to download the publication
For more information about the renewable energy industry please feel free to contact the following people:
Jan Glas (Managing Partner): firstname.lastname@example.org
Cristina Petrescu (Partner): email@example.com
Claudia Stanciu (Partner): firstname.lastname@example.org
Leasing company acquires Fleet Management Services
Business Lease Group expands into Romania
Leasing company acquires Fleet Management Services
Zeist,The Netherlands, December 16th 2014 – Business Lease Group has acquired Fleet Management Services in Romania. The two parties signed the takeover agreement yesterday. With the expansion of its services to Romania, Business Lease Group is consolidating its position in Central and Eastern Europe.
Fleet Management Services SRL (FMS) is one of the pioneers in Operational Leasing and Car Fleet management in Romania. The leasing company has over 3,000 contracts, making it the largest independent provider in Romania. Harm Nijlunsing, CEO of Business Lease Group, says, “The takeover is part of our strategy of expanding further into Central and Eastern Europe, where the market is developing rapidly. Working with FMS, a company with a good reputation and solid customer portfolio filled with both international and local blue-chip companies, we can continue our growth curve. In addition, this expansion gives us an opportunity to further improve the quality and continuity of our services in Central and Eastern Europe.”
Romanian market, familiar territory
Romania is the fifth country in Central and Eastern Europe that Business Lease Group has entered, which makes the market familiar territory. “We started in 1996 in the Czech Republic, offering Full Operational Leasing and Car Fleet management,” says Nijlunsing. “Now, after eighteen years and five countries, we can say that we know the market in Central and Eastern Europe extremely well, have established a strong market position here and consider this part of Europe a second home market.”
Business Lease and FMS combined
As Director of Business Development, Philip Aarsman was responsible for the acquisition. “The growth and expansion among our international customers in this region has precipitated a growing demand for high-quality services, especially in Romania,” he adds. “With a strategic location, a growing economy, a large market and an educated workforce with excellent language skills, this new EU country offers great potential for international companies. The Business Lease and FMS combination is the perfect match in terms of market strategy, business intelligence, culture and ambition. FMS knows the local market well and is a solid organization. Business Lease Group can lift FMS to an international level and provide international customers and expertise.”
Dragos Rosca, CEO Delta Asset Invest, representing Cylatrea Investments the majority shareholder of FMS stated: “Daniel Ivan, Laurentiu Bogdan and I are very proud that after 10 years of our successful journey in building-up an innovative, fast growing and profitable company, FMS and its team are now joining an international player with a strong reputation and know-how. Daniel and Laurentiu will continue their engagement with FMS, managing the Commercial and Operations activities of the company. I am confident that within Business Lease Group, FMS will further expand its footprint in the Romanian market providing first class services to its clients”
About Business Lease Group (www.businesslease.com)
Business Lease is an expert in providing Full Operational Leasing and Mobility solutions for both large companies and small and medium-sized businesses. In addition, it offers importers and dealers customized solutions in the areas of captive leasing, dealer stock funding and other financing products and services.
Business Lease Group is a subsidiary of AutoBinck Holding. Established in 1907, AutoBinck is an international company headquartered in the Netherlands that is active in automobile distribution, sales, leasing and mobility management, as well as the distribution and sale of parts and accessories. AutoBinck has over 2.000 employees working at its offices throughout the Benelux and Central Europe and had 886 million euros in turnover in 2013.
Besides the Netherlands, where it has its headquarters and numerous regional branch offices, Business Lease is a leading player in Poland, Slovakia, the Czech Republic and Hungary. The company leases every car brand and model at a low cost (TCO) and is known for providing excellent service. Business Lease Group’s total contract portfolio contains over 43,000 objects. Customer care and service in the field of mobility are the top priorities at Business Lease, which believes that a car is just a car, but it’s the people who make the difference.
About Fleet Management Services (www.fms.ro)
Established in 2005, Fleet Management Services SRL (FMS) is one of the pioneers in the field of Operational Leasing and Car Fleet management in Romania. With a portfolio containing over 3,000 contracts, the company is the largest independent provider in the industry, with a solid customer portfolio comprised of both international and local companies from diverse industries, including Energy, Manufacturing, Building & Construction, Telecom, Commerce, Agriculture and Services.
FMS has built a strong reputation in recent years and garnered a position in the Top 5.
- INAQ Consulting organizes trainings regarding IFS Food, version 6
Have a Merry Van Gogh Christmas!
A Company Christmas Party feast for 20 to 50, 80 or even 300 people. Buffet dinner and happy dancing await in your favorite Dutch cafe in town.
Need a nice gesture present for your relations or employees? The Van Gogh Gift Vouchers can be personalized in any way you wish.
Or how about a nice Christmas Basket of wine and stroopwaffels for your valued partners?
We can take the entire Christmas task list off your back. Just call Maria at 0724 744 244!
See all Christmas Party packages here. All with 10% discount for NRCC members.
For rent renovated modern office villa
We are pleased to present you a modern and representative boutique office villa in a representative area close to Piata Muncii-Calarasi-Decebal area.
The office villa has recently (2010 and 2014) been fully renovated and offers all a modern office requires.
The office villa has the following features:
360 mp, concrete structure, consolidated in 2010, thermal isolation, paved court yard, 3 parking places, high quality finishings, aer conditioning, central heating system, internet, cable TV, interphone system, video surveillance and alarm system.
Semi underground - Technical room, rooms (living, office, storage), kitchen, bathroom.
GF - 4 rooms, kitchen (unfurnished), bathroom
Floor 1 - 4 rooms, kitchen (fully equipped), bathroome, balcony.
Top floor - 3 rooms, opne kitchen, bathroom, 2 balconies, 1 terrace.
A more extensive presentation you may find at the BLISS Office website.
Regus opens gates for business from 24 to 28 November
From 24th and 28th of November, whoever wishes to discover a new solution for their office can book an office and use it for a full day, in any Regus centre that they desire. For registration at the “Work Your Way Week” in one of the four Regus centres, please call +40 (21) 202 30 30 or fill out the form here
Unfair Commercial Practices in Romania: an Analysis
by Oana Stratula, Attorney at law.
In a difficult economic period, the survival on the market has become, for many merchants, a purpose and for its achievement they are willing to put in the fight any means. As such, buying commercial secrets without the owner's legitimate consent, the spread on the market of deceitful information about competitors or their products, which are intended to mislead the customer, employing "key people" from competitors are just a few of the practices that some merchants, even though they know or at least intuit that are illegal, do not hesitate to use when it is in their interest.
Given that a fair competitive environment is both in the interest of consumers, who will benefit from quality products and services as a result of free and fair competition, as well as in the interest of merchants, the unfair competition practices have been sanctioned since 1991 through the Law no. 11, on the fight against unfair competition, which has undergone, over time, numerous changes and additions.
The most recent modification came into force on September 5th, 2014 and was brought by the Government Ordinance no. 12/2014, published in the Official Gazette, Part I, no. 586 of 6 August 2014 (“GO 12/2014”).
The new regulation provides a better definition of unfair commercial practices.
Unlike the previous regulation, that contained a general definition of unfair competition, which may consist of any act or fact contrary to fair practices in the industrial and marketing activities of the products, in the execution of works, as well as in the performance of services, the GO 12/2014 structures the practices of unfair competition in three categories.
Thus, the following represent unfair competition practices and, consequently, are prohibited:
- the denigration of a competitor or its products / services, made by a company or its representative / employee, by communicating or spreading information that is not real about the work of the competitor or of its products, able to damage its interests;
- the diversion of a company’s clientele by a current or former employee / representative or by any other person, by using some trade secrets, for which the company has taken reasonable measures to ensure their protection and the disclosure of which may harm the interests of that company;
- any other commercial practices which are contrary to fair practices or to the general principle of good faith and which cause or may cause damage to any market participants.
Sanctions applicable in case of unfair competition
The competent authority to establish and sanction unfair commercial practices remains the Romanian Competition Council, which may act ex officio in regards to committing such acts, or upon being notified of a certain unfair practice, by individuals or legal entities, to the extent that they have a legitimate interest. The Competition Council will follow the complaint received from individuals or legal entities only to the extent that they provide evidence about the possible unfair competition practice, the legitimate interest, as well as the risk of producing damages.
In order to be sanctioned, the acts of unfair competition identified by the Council must have a certain degree of social threat. Thus, the new regulation provides that, to the extent that the effects of an unfair competition practice are minor, the Competition Council has to decide, motivated, that its sanction is not necessary.
Unfair commercial practices committed by guilt represent a contravention and are sanctioned by a fine of 5,000 to 50,000 RON (approx. 1,100 to 11,000 Euro) if they were committed by legal persons, and a fine of 1,000 to 5,000 RON (approx. 200 to 1,100 Euro) if they were committed by individuals. The individualization of the fine shall be made by the Competition Council by taking into consideration the following criteria: the seriousness of the act, its effects, as well as the sanctions received in the last two years by the concerned person or entity. Also, besides the application of the fine, the Competition Council may decide and prohibit unfair competition practices.
LUXURY PROPERTY FOR RENT
KPMG Credit PAD
Commercial credit or inter-enterprise credit is 5 times greater than short term bank loans. For the last 100 years, companies have used credit risk reports, credit insurance and debt collection to mitigate the risk of non-payment. Despite the high cost of these services, more than 90% of companies have a weak credit risk process.
Big data and analytics bring a new perspective for credit risk and we expect to see a major change in the way credit risk services are provided for the non-financial sector. To support our vision we have developed KPMG Credit PAD to provide credit risk services to our clients.
Credit PAD is a web based platform where clients log in and select through Apps the desired suppliers of credit risk services. The Apps within the Credit PAD platform have been developed by selected third parties and KPMG. As Credit Risk services are complex, the Credit PAD team provides technical, sales and marketing training to our clients.
Our vision is to improve the transparency of the market. We put in contact the best credit risk solutions on the market often developed by innovative IT companies that take advantage of the growing digitized data to develop new solutions. We help our clients to combine their internal data with external sources of information to become efficient thanks to the Big Data. Finally we develop a risk culture through regular workshops.
Romanian Market (2013 financial data)
- 2.967 companies have more than 10 million euros in sales and 1.429 companies have more than 20 million euros in sales.
- 18.639 companies with sales of between 1 and 20 million euros are profitable.
- 80.283 companies have debts of over 50.000 euros to collect.
- 51.324 companies have debts of over 100.000 euros to collect.
Also, Credit PAD is a fast online gateway where companies can address their portfolio of contracts to NTMO Attorneys at Law, the associated law firm of KPMG Legal in Romania, a leader in compliance aspects with a global reach. By leveraging technology and industry knowledge, NTMO may handle the drafting and reviewing process of the contracts pertaining to their business while offering clear legal guidance with an emphasis on the most sensitive related compliance aspects.
Such approach would ensure that the contract and any related addenda are validly concluded, the related contractual milestones are rigorously monitored, contractual documents are always drafted properly, the four-eyes principle is observed when dealing with key provisions, the approved template is consistent and not subject to unscheduled modifications while benefiting from developed strategies for an effective risk-conscious solution when conflicts must be resolved.
For further information please contact:
Karim Kheirat, Associate Director, KPMG (email@example.com)
Georgiana Canache, Managing Associate, NTMO (firstname.lastname@example.org)
- DBH celebrates its 20th anniversary
INAQ Consulting – IFS Trainingcenter in Romania
INAQ Consulting organizes trainings regarding IFS Food, version 6
As IFS Trainingcenter in Romania, INAQ Consulting organizes trainings regarding IFS Food, version 6, in two sessions : November 20th-21st, 2014 and January 28th-29th, 2015.
The training is organized within the IFS Academy program.
Advertising opportunity for NRCC members in the Nearshoring Guide
If your company works with entrepreneurs that want to start a branch in Romania or you would like to have a Dutch partner, both target groups can be reached by advertising in the NRCC Nearshoring Guide 2.0 - A practical guide for entrepreneurs that consider to expand their business to Romania.
After four prints of the first edition, we are going to launch a new version with updated information and a new structure of the chapters. The guide is a must-read for any entrepreneur that considers nearshoring to Romania as it presents, in a realistic and objective manner, the advantages and challenges in doing business in this country.
The new edition will be printed in 500 copies and distributed to the Dutch Chambers of Commerce in The Netherlands, participants of incoming trade missions and the Embassy of The Netherlands in Romania for dissemination to visitors.
If interested to advertise in the Nearshoring Guide 2.0., you have two options: ¼ page advertisement, 63x94mm, 500 characters, at 75 Euro, and ½ page advertisement, 128x94mm, 1000 characters, at 125 Euro. In both cases, the following information will be displayed: company logo, presentation of the company and its services and the contact details. Please send us the text and logo (editable format) before 6th of November.
ACADEMY+PLUS project of PITECH+PLUS
ACADEMY+PLUS developed from a partnership with the school 42 in Paris, considered being the biggest private school in France that teaches young people how to code.
The partnership with the school 42 allows us to use the latest techniques of learning, on an already established curriculum tested by over 900 students each year in France. This partnership enables us to offer them the possibility to study also in France.
ACADEMY+PLUS is different from any other learning environment: we welcome those students who are passionate about IT, who have an inner urge to be the best at what they do, and are ready to take the challenge regardless of their educational background.
Awarded by the French Chamber of Commerce and Industry with the Prize for Innovation in 2014.
TNT puts the human touch first in the express delivery industry
As part of its Outlook strategy, TNT has launched a new brand identity highlighting the TNT people and unique European road network. The new tagline, ‘The People Network’, reflects the company’s culture to develop strong relationships with customers. It showcases TNT’s role as a network of dedicated people who help customers grow their businesses.
The new brand starts with an integrated communication campaign and free trial promotions in more than twenty countries. The new campaign is part of the new Outlook strategy. It positions TNT as the human challenger in the market for small and medium enterprises (SMEs). TNT is a natural choice for these businesses because it believes the client cannot be a barcode but needs to be treated personally.
The People Network
Over the last 70 years, TNT built the most extensive European road and air network for parcels and freight and scores high on customer friendliness. Tex Gunning, CEO of TNT: “We have a clear strategy to focus on our greatest strengths: our people, their human approach to serving customers, and our unique network. Customers are not barcodes and we are not robots. We all relate to what drives our customers: business growth. The personal touch and taking time to understand what customers really need distinguish us from others. We are The People Network.”
The strategic choice
The new TNT brand identity underpins the company’s challenger position and state of mind. This investment in the TNT brand reflects the company’s strategy to offer customers an even better experience and bolster its European network.
TNT targets profitable growth, with increased productivity and network efficiency. In the coming months, new commercial initiatives will be rolled out to gain and retain additional SME customers.
The roll-out all over Europe –from PR, online and social media communication to sales and loyalty programs– shows that TNT is investing in its strong belief that personal contact makes the difference in modern logistics.
Dick van der Lecq, MD of the Dutch advertising agency Etcetera/DDB, which created the campaign: “Previously customers bought products or brands. Nowadays customers consciously buy a company. The DNA and the people behind the brand. Talking to dozens of TNT employees showed us the only way to express their attitude towards clients: the human transport company. A ‘human truck’ captures that belief in the TNT commercial in one sight. The making of the commercial - partially by TNT employees - is definitely worth watching on social media.”
In the next ten weeks, new customers will be offered to test ‘the TNT experience’ with one free international shipment up to 100 kg across Europe, on TNT European Road Network, to destinations from 24 countries.
To see the lates TNT’s clip, please visit:
TPA Horwath Romania – Special recognition for accounting services
After winning the “Grand Prize” for accounting for the last three years, TPA Horwath Romania has this year been awarded the “Special Prize for 2014” in the Large Companies category.
The prize was awarded by CECCAR, the body of chartered and certified accountants in Romania, and is an acknowledgement of the company’s status as one of best accounting practices in Romania.
The assessment criteria used to judge companies nominated for this award included turnover, number of employees and number of clients, as well as the complexity, quality and innovation of the services provided.
The award was disclosed during the 5th edition of the Forum for Small and Medium Practices, which took place in Bucharest on the 11th of September.
TPA Horwath is one of the leading accounting, tax advisory and auditing services companies in Austria and Central and South Eastern Europe. Headquartered in Austria, the TPA Horwath Group is active on 11 European markets: Albania, Austria, Bulgaria, Croatia (exclusive business partner), Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia and Slovenia.
Having entered the Romanian market in 2007, the company currently boasts a valuable team of 5 partners and 85 accountants, auditors, tax and legal advisors, all working from its offices in Bucharest.
Corporate Office Solutions (COS) opens its second office in Romania, in Cluj-Napoca.
Corporate Office Solutions (COS), leading specialist in workplace consultancy & design and fit-out, inaugurates its second office in Romania, in Cluj-Napoca.
The showroom is located on the ground floor of The Office Cluj-Napoca, one of the newly opened Class A buildings in Transylvania.
Since 2004, COS presence in the Transylvania market has been consistent. The company has provided integrated services - workplace consultancy & design, fit-out, M&E works, project management, office furniture and carpet supply - for large companies, such as Thomsons Online Benefits, Siemens, Emerson, Tenaris, Banca Transilvania, Plexus Oradea, Office Depot, Ing Bank, Garmin and Yardi.
The new COS office's strategy will continue the succesful development of turn-key projects, with the support of the Bucharest headquarter. "Cluj is one of the most dynamic cities in Romania, with great potential in the services area and current real estate projects under construction. Foreign firms have a choice due to the quality and the significant number of Class A buildings. This is one of the reasons Cluj has been attracting important investments in the last years, besides the competitive and affordable language and technical skills of the local population." says Christophe Weller.
"Through the new office, we are really happy to be able to offer our clients and prospects a place where they can experiment with the latest trends and products in office interior design. Also, we want to build a strong relationship with the local business community that will allow us to constantly grow in the next years." says Marius Mârza, Transylvania Area Manager.
Last year, COS registered a turnover of 16.2 M euro, the best result in 17 years of activity, with an 21% increase comparing to 2013. In 2014, the company was involved in projects such as: Deutshe Bank HQ at Upground Bus Centre, King and Pay U at Opera Centre, Basf and Saint Gobain at Floreasca Bus Park, Abbvie at Lakeview Bldg, Popovici Nitu & Asociatii at Skytower, Accenture Romania in Bucharest and Timisoara, Tibco Timisoara, Anvis Satu Mare, Garmin Cluj.
Founded in 1997, COS has continuously developed its range of services, becoming the first fully integrated office design & build specialist in Romania. Since foundation, COS holds the sole local authorized dealership of Steelcase, global leader in the office furniture industry. COS is also representing Interface, worldwide leader in modular carpet.
d’art Consulting becomes EASTWARDS PROSPECTUS
LABOUR LAW: REDUCTION OF SOCIAL SECURITY CONTRIBUTIONS
Social security contributions paid by Romanian employers corresponded, until September 2014, to two thirds of the total contribution paid to the social security budget. In order to reduce the pressure of the tax burden borne by the employer, the Government initiated a bill designed to reduce contributions paid by employers by 5%. Law no. 123/2014 comprising this amendment was passed by the Parliament in September 2014 following long debates, further to the request made in July 2014 by the President of Romania for the reexamination of this Law. The reduction of the employer’s contribution to the social security budget shall enter into force at the beginning of October 2014.
These latest legal changes, as well as other information regarding labour law are presented to you briefly hereunder:
REDUCTION OF THE SOCIAL SECURITY CONTRIBUTION (CAS)
The cumulated percentage (employer-employee) of the contribution paid to the social security budget differs depending on the work conditions. Until now, the compulsory contributions to the social security budget paid by employers and employees were the following:
- 31.3% for normal work conditions, out of which 10.5% paid by the employee and 20.8% paid by the employer
- 36.3% for particular work conditions, out of which 10.5% paid by the employee and 25.8% paid by the employer
- 41.3% for special work conditions and for other types of work conditions, out of which 10.5% paid by the employee and 30.8% paid by the employer
Following the entry into force of Law no. 123/2014 amending the Fiscal Code, the employees’ and employers’ contributions to the social security budget were reduced by 5%, but this cut only operates in favour of the employer, as the rate to be paid by the employee remains 10.5%. The contributions to the social security budget shall apply starting from the revenues corresponding to October 2014:
- 26.3% for normal work conditions, out of which 10.5% paid by the employee and 15.8% due by the employer
- 31.3% for particular work conditions, out of which 10.5% paid by the employee and 20.8% due by the employer
- 36.3% for special work conditions and for other types of work conditions, out of which 25.8% due by the employer
The calculation basis to which the employer’s contribution is applied is limited to the amount representing the product between the number of employees and the threshold of 5 times the average gross wage (namely 2,298 Lei) provided by the Law on the social security budget.
WE ARE REMINDING YOU THAT...
As of July 1st, 2014, the basic minimum gross wage at the national level is of 900 Lei (approximately 200 Euros), in accordance with Government Decision no. 871/2013, whereas the average gross wage provided in the public social security budget is 2,298 lei (approximately 520 Euros).
As regards lunch tickets granted to employees, their value is the same since 2013: 9.35 Lei.
Ghica Boutique Law Firm supports IABLF (International Association of Boutique Law Firms), the intern...
IABLF is a strongly motivated organization, on the verge to put in practice an exclusivist communication concept; the scope is to build a strong networking and cross-promo platform for international legal matters; the idea belongs to Cristina Ghica, Managing Partner | Ghica Boutique Law Firm.
“IABLF is a business opportunity that answers a need. Ghica Boutique Law Firm has globally represented clients, in different law systems. As a consequence, we were often motivated to work with international law firms. But finding a boutique law firm with impeccable credentials, when and where you need it can be quite a challenge. Where can you find it? Who can provide recommendations? Does it fit our clients’ standards? IABLF presents the solution to this challenge. IABLF members are boutique law firms highly reputed and intently specialized in several law areas, all around the world” Cristina Ghica, IABLF President, explains.
IABLF has five members at this point – companies coming from Romania, Great Britain, Bulgaria and Dubai – and several others (France, Spain, Italy and USA) are under scrutiny.
IABLF offers each member the possibility to fill in the most important information about the boutique law firm, as well as the option to upload press releases with the latest news. Through the profile, all members have access to the communication platform, specially created to discuss legal matters encountered in international systems of law.
A client of an IABLF member can enjoy the advantages of a global presence in all areas of the law, without sacrificing the personal attention that a boutique law firm offers for its clients.
Cristina Ghica: “IABLF is not an organization a lawyer or law firm can join by paying a fee. IABLF thoughtfully reviews the qualifications of each potential member and invites only those who represent the highest level of knowledge, experience and reputation. Each member carries credentials comparable or superior to those one can be found at the highest-ranking full-service law firms and proposes legal representation without the insulating layers of intermediate attorneys between the client and senior lawyer or partner, and without the concomitant exorbitant billing rates.”
IABLF aims to have at least 50 members by the end of the year, as part of a well thought promotional campaign, both in Romania and abroad. The organization has huge potential and can easily become a flagship for boutique law firms all around the world.
For a broader image on IABLF, please check:
Cristina Ghica, Managing Partner of our company, embraces the challenge of an internationally acclai...
Business lawyer with over 12 years of experience in Romanian law practice, EU and international law, Cristina Ghica is happy to announce that she was admitted on the Global Executive MBA Program, Americas Track, Class of 2016, which will begin in February 2015.
Classified as the 2nd worldwide by The Economist’s Executive MBA Ranking 2013 for this Global Executive MBA Program, IESE Business School was also ranked as the third in Europe for Global Executive Education by Financial Times in 2014. IESE Business School is one of Europe's oldest management education institutions (founded in 1958) and has two first-rate campuses in Barcelona and Madrid, a center in New York City and offices in Munich and São Paulo.
With MBA, Global Executive MBA and Executive Education programs worldwide – in Europe, South America, North America, Asia and Africa – IESE is among the most internationally minded business schools. The faculty members, who have hands-on experience in diverse geographic locations, combine practical knowledge with innovative thinking about today’s business problems.
The Global Executive MBA Program that Cristina Ghica will study is an exquisite and exclusive program designed annually for only 70 persons on two tracks - Europe and Americas and represents a powerful learning opportunity that will give her state-of-the-art management thinking and a close-up view of business contexts in Asia, Europe and the Americas. In a stimulating, collaborative setting, she will learn with other accomplished participants, seasoned professionals in their fields, who will share their experiences and insights on residential courses organized in the major business hubs in the world in a complex business environment, through company visits, meetings with executives, special projects, cultural activities and get-togethers with local citizens, correlate with the setting.
Exciting times lay ahead Ghica Boutique Law Firm and Cristina’s career, as she explains: “I have always believed in my goals, the admission and graduation with an EMBA within one of the best business schools worldwide being one of my long-life ambitions. Since I have always had a thirst for knowledge and a never-dying desire to innovate and to bring new visions in the community, I have realized that I need to broaden my experience with functional and technical expertise into a global managerial view, in order to “Be a yardstick of quality”. “Some people aren't used to an environment where excellence is expected” as Steve Jobs said. For me, excellence is not only a desire. It is a target. Therefore, I firmly consider that IESE Global EMBA program will help me reach the top of the ladder in my profession as an international business lawyer and not only.”
Are Romanians interested in guidance for the acquisition of artwork?
Interview with Board Member Jan Willem Kivits
Our new Board Member Jan Willem Kivits, Managing Director of FrieslandCampina, has been in Romania since 2012. We asked Jan Willem about his experiences in Romania, about his appointment as Member of the Board of Directors of the NRCC for the year 2014-2015 and his expectations for the agriculture industry.
You have been living in Romania for two years now with your family. What are your experiences?
‘We enjoy living in Romania and we like go to the mountains and the seaside. The summers are nicer than the winters, especially with Vietnam and Malaysia in memory, where we always walked around in shorts. I worked eight years in Asia, where I held marketing & regional category positions at FrieslandCampina. Here in Romania I got the chance to be involved in all facets of the business as Managing Director.’
When did you hear about the Netherlands Romanian Chamber of Commerce?
‘Already In the first week I found out about the network drinks of the NRCC at Grand Café Van Gogh and joined a few. One of the events I enjoyed the most was the macro economic outlook by Lucian Croituru, organised at ING. It was very refreshing to have a speaker who was very strict and forward on Romania: “We have a few issues to solve, firstly corruption and secondly ownership of land and property. We see signals of improvement but much more needs to be done.” Sometimes people make to things nicer than they are.’
You visited the NRCC Orange Night – the celebration of King’s Day. What do you think about this event?
‘I see Orange Night as our flagship event. Our Embassy together with the NRCC and its members are very engaged promoting Dutch Business in Romania and the “Orange theme” is the glue that brings this all together. Orange Night is the event where networking and having a good time seamlessly come together.’
You have a lot of knowledge about the dairy and agriculture industry. What do you think the NRCC can do in the field of agriculture?
‘Romania is still underdeveloped when it comes to agriculture at the same time there are huge opportunities, for example in growing fruits & vegetables and producing dairy and meat. Romania can transform into an exporting country of food, but first it needs to make sure there is enough to supply to and compete in the local market. At this moment Romania is not independent enough and the markets need to become more robust and sustainable. Close contact between authorities, the Embassy and the NRCC can help to create a successful and sustainable strategy for agricultural development. FrieslandCampina Romania is highly dependent on the availability of good quality local raw milk. Therefore we would like to offer our help and expertise to further improve dairy development in Romania.’
What are your expectations for next year as board member?
‘First I would like to get to know my team members better. In August we will have our strategy meeting where we will determine our agenda for the coming year. For sure we will link our key events to the chosen top sectors. In my case this will be agriculture.’
What is your message for our members?
‘We encourage all members to become active in our community. There are many opportunities, like sharing expertise in a Knowledge Centre, publishing an article in our newsletter, contributing to a whitepaper or organizing a training or event. Let us know what your ideas are and we can talk about the possibilities.’
René Schöb is the new Country Managing Partner of Mazars
Starting today, René Schöb is the new Country Managing Partner of Mazars Romania. He succeeds Jean-Pierre Vigroux, following his decision to retire from the professional life in the audit industry and focus on his own business activities. René Schöb was Tax Partner and has been leading the Tax Advisory Department since September 2013, following the merger between Mazars and Adevaris, the firm that he represented as Managing Partner and co-founder. Thanks to the merger Mazars has strengthened its position in the top five players specializing in audit, tax, accounting, payroll and advisory in Romania.
René Schöb: "It is an honour, a responsibility and a challenge for me to follow Jean-Pierre’s leadership at Mazars. He is a landmark of the professional services’ development in the last 20 years in Romania. I thank Jean-Pierre and my partner colleagues for the trust they have in me. Expectations raised with regards to Mazars’ current stage of development in Romania are high as we continue to strengthen our market position following the recent merger. I am convinced that today’s changing economic environment creates many opportunities for us that we aim to take. Companies need integrated, complex and diverse advisory solutions to respond adequately to the continuous changes. It will be our role to provide sustainable high-quality services to our clients irrespective of their business’ size or stage of development."
Following the merger with Mazars, when he took over the lead of the Tax Advisory Department, René Schöb has reshaped and strengthened this line of business. During this period, Tax Advisory services increased significantly thanks to the client portfolio’s expansion in sectors such as financial services, manufacturing, real estate, logistics, FMCG, pharma, etc., as well as to the diversification in service offering. The team has also been enlarged with a new Tax Partner following the arrival of Edwin Warmerdam, who is also heading the Mazars Dutch Desk, the new service launched for assisting the Dutch business community.
Jean-Pierre Vigroux: "Mazars gave me the opportunity to come back to Romania six years ago and I am extremely grateful to this firm for this return to my country of adoption. The achievements I believe I can be proud of and obviously owe them to the whole Mazars team are the improvement of the service quality and market position. Mazars is seen today as a top quality firm, which was hardly the case in 2008. This statement is not the expression of some form of subjective self-satisfaction, but a fact proven every day by our clients’ feedback and our competitors’ respect. We have won our place in the First League of the audit and consulting industry - a good reason to feel recognized and respected. With over 150 professional staff, Mazars is now a strong player in all its core businesses: audit, accounting and tax advisory and provides specialized support to investors from the two major economies of the EU, the German and the French ones. This makes a sound basis to which René has already brought his invaluable contribution and on which he will continue to grow the firm with his vision, energy and enthusiasm.”
René Schöb boasts over 16 years of professional experience in finance, of which 8 years as a tax and financial advisor in Romania. His field of expertise encompasses the Romanian and international taxation, with an emphasis on direct taxation, M&A and corporate finance. He is a Swiss national, graduate of the University of Applied Sciences in St.Gallen, Switzerland. In Romania, he is a well-known expert for foreign and particularly German-speaking investors. Since the start of his activity in Romania, he provided consulting support to well over 150 firms during the process of their market entry. René Schöb is Certified Tax Advisor and member of the Romanian Chamber of Tax Consultants (CCFR). In his career, he also worked as a Project Management Advisor with a “Big Four” firm and as a director in corporate planning and controlling with a Swiss stock listed company.
Jean-Pierre Vigroux boasts an over 30-year experience in transaction-related services and financial auditing, initially in Paris, then as founder (1991) and General Director of PricewaterhouseCoopers Romania (followed by the supervision of PwC activities in the Balkans, 2004-2008). He is a French citizen, holder of a diploma issued by ESSEC, France and “Conseiller du Commerce Extérieur de la France” (Advisor for the promotion of the French Foreign Trade). He held the Managing Partner position with Mazars Romania since 2008. Jean-Pierre Vigroux is member of the Chamber of Financial Auditors of Romania (CAFR) and the Romanian Chartered and Certified Accountants Body (CECCAR) and was associate member of the Business Advisory Council of the Stability Pact for South-Eastern Europe (2004-2007).
Jean - Pierre Vigroux decided to retire from the professional life in the audit industry and the Managing Partner position, while continuing to be close to Mazars by having an advisory role.
NTMO Attorneys at Law in association with KPMG Legal is launching the new kpmglegal.ro
Mazars Romania Launches Mazars Dutch Desk, a Specialized Advisory Unit for the Dutch Business Commun...
MAZARS Romania announces the launching of the MAZARS Dutch Desk, designed to provide integrated tax, audit, accounting, payroll and advisory services to investors representing the Dutch community. The multidisciplinary team of this new unit, through its extensive network of contacts in Romania and the Netherlands, will support both the Dutch-owned companies already active on the local market and investors who want to start new business in Romania. This includes the investors which are investing via The Netherlands into Romania.
The Dutch Desk’s activity will be based on the MAZARS German Desk’s experience and practice, the first unit that MAZARS launched, in 2013, for a language based business community. The new Dutch Desk will address the business community with the largest investments in Romania (over EUR13bn.), by offering integrated consulting services and solutions. MAZARS Dutch Desk will be led by Edwin Warmerdam, Tax Partner of MAZARS Romania, who is a native Dutch speaker.
Edwin Warmerdam, Tax Partner, MAZARS Romania: "We are currently working with many Dutch investors. By creating this new unit, an existing framework takes further shape based on the experience and connections we have developed with these investors. This is a very dynamic community, which keeps extending its activity in Romania. MAZARS Dutch Desk’s role is to help both Dutch investors and their direct business partners to grow and strengthen their market presence. Our multidisciplinary team of professionals is ready to support their business decisions through clear and precise answers to their needs, by offering tailored consulting solutions and a personalized approach of the relationship we build with each of them."
Companies from or making business via The Netherlands run investments that cover 20 percent of the total FDI in Romania. Altogether, MAZARS Dutch and German Desks provide tailored consulting solutions to some of the most important multinational organizations from the Netherlands, Germany and Austria, the source countries for more than 50 percent of the total FDI in Romania. The companies with Dutch, Austrian and German capital that work with MAZARS are active in areas such as energy, automotive, retail, real estate and financial services.
- Mazars is an integrated, independent international organisation, specialising in audit, financial, accounting, payroll, tax and legal advisory services provided by more than 13,800 experts in 72 countries. In the 2012-2013 financial year, Mazars Group registered a turnover worth EUR 1,045.6mln, showing a 3.2% increase as to the previous financial year. Mazars is the only audit and consulting firm which, in the spirit of transparency, publishes consolidated accounts, audited in compliance with IFRS.
- In Romania, Mazars started its activity in 1995. The local team comprises 160 professionals specialising in audit, tax, accounting, payroll and legal advisory services.
Did you know that you can now check if a company inside the European Union is insolvent?
How are you affected by the changes brought to the mediation law and what must you know about these ...
On the 7th of May 2014 the Constitutional Court of Romania, through the Court Decision number 266/2014, has admitted the exception of unconstitutionality regarding the provisions of article 2 paragraphs 1 and 1 index 2, and by doing so, major changes to the mediation law – law 192/2006, have been made (...)
How do the changes brought by law 85/2014 on insolvency affect entrepreneurs?
The new law on insolvency – law 85/2014, came into force on the 28th of June 2014 and has brought forth important changes to the insolvency proceedings.
Why are the changes brought by the new law of insolvency important?
What are the most important changes brought to the insolvency proceedings?
How do these changes affect creditors and debtors?
Are you considering registering as an Authorized Natural Person (PFA) in Romania?
Are you a foreign citizen and have you thought about registering as an authorized natural person in Romania?
Are you wondering what registering as an authorized natural person implies?
Do you want to find out what are the right steps to follow?
For more please access the following link:
Invitation to diversity, at Bread festival
Zeelandia Romania, closer to consumers through its products, at The Bread Festival from Cora.
For two weekends, Zeelandia Romania joined the consumers through The Bread Festival, organized by one of the biggest hypermarkets in Romania, Cora. The event took place in the Cora national chain.
The first weekend was held from 16 to 18th of May, in 7 Cora hypermarkets in the country: 4 Cora in Bucharest (Lujerului, Alexandria, Pantelimon and Sun Plaza), plus Cluj, Baia Mare and Arad.
In the second week-end, between 30 of May and 1st of July, the Zeelandia products were promoted in Cora’s outlets from: Ploiesti, Bacau, Drobeta Turnu Severin and two from Constanta.
During the two weekends, through the already traditional collaboration with the Cora representatives, Romanian consumers had the opportunity to taste and buy some of the most representative types of bread, both packaged or weighed, depending on the desired quantity. The most representative Zeelandia bread assortment present at The Bread Festival included the packed bread (at 500 g), the weighted one and the Nacho bread specialty:
- Paine Taraneasca Integrala/ Wholegrain Countryside Bread - a 100% whole wheat flour bread, rich in fibers, which keeps the taste of the old bread, baked home on the hearth, available both packed at 500 g or weighed.
- Paine Rotunda cu secara/ Round Rye Bread – an E free and no preservatives bread, with a balanced rye contents and authentic taste, also available both packed, at 500 g, and weighed.
- Paine Rotunda Alba Rustica/Round Rustic White Bread – an E-free bread without preservatives, that keeps the taste of a well done bread.
- Paine Rotunda Integrala/ Wholegrain Round Bread - a 100% whole wheat flour bread, with fibers.
- The Nacho bread specialty - an ideal snack with powdered cheese and grits.
PRESS RELEASE Netherlands Romanian Chamber of Commerce Appoints Board of Directors 2014-2015
PRESS RELEASE Netherlands Romanian Chamber of Commerce Appoints Board of Directors 2014-2015
Bucharest, 2nd of July 2014
The Netherlands Romanian Chamber of Commerce (NRCC) has elected a Board of Directors for the mandate 2014-2015. The board members were elected during the General Assembly which took place on the 11th of June and their official term started yesterday, after the roles of President, Vice-President, Treasurer and Secretary were designated within the team. Seven board members were re-elected and Ronald Oort and Jan Willem Kivits are newly appointed in the board. The NRCC Board of Directors for 2014-2015:
President Robin van Rozen, General Manager at Philips South Eastern Europe
Vice President Irina Zugravu, Managing Partner at VAPRO Romania
Treasurer Jan Glas, Managing Partner TPA Horwath
Secretary Isfahan Doekhie, CEO at Management Services Bliss
Board Member Dora Surugiu, Managing Director Maastricht School of Management
Board Member Herman Wierenga, Managing Director at ORTEC
Board Member Joep de Roo, Managing Director at Eurodite
Board Member Ronald Oort, Chief Risk Officer at ING BANK Romania
Board Member Jan Willem Kivits, Managing Director at FrieslandCampina Romania
President Robin van Rozen: ‘New this year is that we have five board members that will serve a term of two years instead of a term of one year. The General Assembly decided to make an amendment in the statutes regarding the terms for board members, in order to secure the continuity in the board.’ About the plans for the next period Van Rozen said: ‘We are going to use the summer months for team building and strategy development. We already know we have a full agenda with events for our active community for September. Examples of events are the ‘Back to work networking drink’ at the Residence of the Dutch Ambassador, a Knowledge Centre about mobile apps and a series of exquisite dinners around a famous collection of etches which were made by Rembrandt van Rijn.’
New board member Ronald Oort about his appointment: ‘I hope we can connect a lot of people and in this way generate more business opportunities for all. We will increase professionalism and our exposure to the business community here. I hope I can help with that. I think getting the right people around the table is an important task of the NRCC. Through the network we can bring people together and make things happen.’ Jan Willem Kivits declared: ‘We will try to get the events to a higher level and increase efficiency. We link the events to the focal points, so in my case agriculture.’
ABOUT NRCC: The Netherlands Romanian Chamber of Commerce (NRCC) supports and promotes the Dutch-Romanian business community. The NRCC does this through creating business opportunities within her active community of members, through a close contact with Embassy of The Netherlands in Romania, as well as Romanian government relations where necessary.
Around 110 members of the NRCC benefit from the strong network of partners, have access to networking events, trainings and knowledge centres and the NRCC generates wide exposure for her members.
The Netherlands is since many years the biggest source of Foreign Direct Investment in Romania.
For more information please contact Anna Heijker, Communications Manager at the NRCC: anna.heijker [at] netherlands [dot]ro.
Interview with Board Member Ronald Oort
We meet at the 12th floor of the headquarters of ING BANK, where our new Board Member Ronald Oort has his office since January this year. After having worked in Brazil and Poland he landed in Bucharest, where he takes the position of Chief Risk Officer at ING. We asked Ronald a few questions about his experiences in Romania and about his appointment as Member of the Board of Directors of the NRCC for the year 2014-2015.
How were your first months in Romania?
‘It was nice to go on a trip to visit all the ING offices in the regions. I have seen two different worlds: there is Bucharest and there is the rest of the country. Bucharest is really the large Metropolis with all of the associated pros and cons. The rest of the country is different, in some cases a lot more beautiful, but when we talk about economic growth and potential it is clear that there are regions that are less developed. However that also gives opportunities! A surprise was that (almost) everybody speaks English, because in Poland I had to go everywhere with a translator. The people are very open and like to talk and discuss which made it very easy in my first months to get a good impression and to make a “soft landing”. The educational level in general also seems very high, not only at the centre in Bucharest but also in the smallest offices in the Regions, people are very knowledgeable and very aware of the larger (European) world around them.’
Where do you see opportunities in Romania?
‘In some ways Romania is a bit less developed in comparison to other European countries, but the positive thing about that is that there are more opportunities to make large steps. Especially in the level of service that you can provide you can really make a large difference to your clients. The potential growth in the coming years is also substantially higher than in many countries around us.’
When did you find out about the NRCC and its activities?
‘In my first week here my colleague Bas van Beurden, who has now moved back to The Netherlands, brought me to the New Years reception at the Residence of the Dutch Embassy and that was my first introduction to the Dutch community. My impression was very good and in a short time I made a lot of connections, something I appreciate a lot. I am now quite involved in the Dutch community.’
What are your expectations for your mandate as a board member?
‘I hope we can connect a lot of people and in this way generate more business opportunities for all. We will increase professionalism and our exposure to the business community here. I hope I can help with that. We have a large client base here and I think getting the right people around the table is an important task of the NRCC. Through the network we can bring people together and make things happen.’
Do you have a message for our members?
‘Ask your friends, families, connections and business partners to join us. The more we grow the more you can benefit from your membership. Firstly the network increases and secondly our voice in the national fora like the Coalitia pentru Dezvoltare Romaniei becomes stronger. So I hope to see many people during events.’
Knowledge centre Employee Engagement - Tools for good times and tools for when you go through storms
Employee engagement is a hot topic in SME’s and at corporate companies. In times in which we are facing downshifting, recruitment freeze, cuts of costs, the risk of burn-out and a war for talent, we need keep the right employees motivated and satisfied. On the 19th of June NRCC members TNT and Romtelecom shared their best practices on how they e.g. increased productivity, sales and employee satisfaction, keep employee retention rates high and created healthy company cultures by special programmes for their workforces.
Ana Glavce (HR Manager) and Bogdan Dragotoiu (Marketing and Sales Manager) from TNT presented Orange Shake, an internal, gamified motivational programme, which was fine-tuned during the last eleven years. Glavce: ‘Orange Shake is not a programme, it is a way of living. It is not about work life balance, but about a blend and about taking care of yourself. Our employees join courses and go to cultural events, they make sure they spend enough quality time with their families and they receive points for these efforts. These points can be exchanged for prizes and benefits. We strongly believe that ‘Happiness delivers profit’. The result of Orange Shake is that our internal communication revived and became more open, we use more of the in-house knowledge and we consolidated our corporate communications.’
Anca Georgescu Aladgem (Chief Human Resources Officer) from Romtelecom shared her experience with the development of culture change programs, as well as a tailored talent development curricula which helped to ‘balance sweet and sour’ during a period of huge change within Romtelecom. ‘It is very important to create a common denominator within the company and in this way align everyone to the values of the company. A healthy company culture is essential. Examples of how we foster employee engagement are various interactive workshops discussing the organisational strategic direction as well as values and behaviours. Programs we have used over the years are: Proud to be… identifying the best features of our organisations, the Bravo project, in which employees were encouraged to give compliments, Leadership Development Conferences for managers with potential, Bright Idea contests and several other recognition and individual development programmes. There is not just one program or project that we do to address engagement and create a feeling of belonging, but a continuous effort.’
NRCC thanks the speakers from Romtelecom and TNT for their valuable contributions. Do you also want to share knowledge within our active community? Please don’t hesitate to contact our Communications Manager Anna Heijker: email@example.com.
NRCC Appoints Mr. Maurits Dohmen as New Executive Director
Bucharest, 4th of June 2014
The Board of Directors of the Netherlands Romanian Chamber of Commerce (NRCC) is pleased to announce a new Executive Director in the person of Mr. Maurits Dohmen. Dohmen plans to grow the NRCC community and further develop the NRCC as go-to platform where Dutch and Romanian businesses meet.
Robin van Rozen, NRCC President and General Manager at Philips, said: ‘Dohmen exemplifies what we were looking for – someone with a passion for our mission, with connections in the community and broad experience in management. We welcome him with great excitement.’
Dohmen, originally from The Netherlands, has been living in Romania since three years. In the last years he was General Manager at Geta Voinea Hair International, one of the market leaders in the Romanian beauty industry. He successfully added new layers to existing markets, developed corporate programmes and introduced innovate concepts to the market. Since 2012 Dohmen is co-owner of ID International SRL. Dohmen has demonstrated strong management consultancy skills
and has shown proven, significant results when entering new markets.
About his new position at the NRCC the new Executive Director declared: ‘We are going to work on the NRCC’s visibility and reachability in order to increase the amount of business opportunities that are established through our network of members and partners. We help our members to grow their business by organizing interesting networking events, training sessions and knowledge centres and we represent the Dutch-Romanian business community to the Romanian authorities.’
Dohmen is planning to also address the less traditional domains, but with a strong connection to The Netherlands. ‘We aim for more diversity in our community of members and we want to keep the ‘family feeling’ that members of the Dutch chamber experience. For example during NRCC flagship event the Orange Night, a celebration of the birthday of the Dutch King, members and visitors felt the typical Dutch cosiness and friendliness. During the exquisite Orange Night business dinner and the party afterwards a lot of business relations were strengthened and new ones established.’
Dohmen takes over from Mr. Alex Mircea Dascalu, the previous Executive Director. We would like to thank Mr. Dascalu for all his contribution in building the NRCC and wish him a lot of success in his role as Leader for the German Desk at Deloitte. New Executive Director Maurits Dohmen has started his work on the 1st of June. He is completing the Executive Team of NRCC alongside the Communications Manager, Mrs. Anna Heijker, and the Operations Manager, Mrs. Ioana Rafiroiu. In the next months the team will focus on the development in new markets, the organization of a series of knowledge centres and growing the community of members.
ABOUT NRCC: The Netherlands Romanian Chamber of Commerce (NRCC) supports and promotes the Dutch-Romanian business community. The NRCC does this through creating business opportunities within her active community of members, through a close contact with Embassy of The Netherlands in Romania, as well as Romanian government relations where necessary.
Around 110 members of the NRCC benefit from the strong network of partners, have access to networking events, trainings and knowledge centres and the NRCC generates wide exposure for her members.
The Netherlands is since many years the biggest source of Foreign Direct Investment in Romania.
For more information please contact the Executive Director Maurits Dohmen: maurits.dohmen [at] netherlands [dot] ro or Communications Manager Anna Heijker anna.heijker [at] netherlands [dot] ro.
Click here for the PDF version of the Press Release.
HR courses, supported by Smartree Romania
HR professionals, those who want to open a business and department managers or team leaders in charge of managing teams can learn now what are considering ending, modify or terminate a labor contract and the legal framework of labor relations and how to calculate salaries with two online courses.
Smartree Romania supports HR courses on ZFeLEARNING.ro, online video courses platform in Romanian language of ZF. The courses “Guide to personnel administration” and “Principles of payroll” teach managers how to effectively manage staff from the company and the correct way of calculating staff salaries.
The courses are held by Monica Spiteri, Development Director at Smartree, with over ten years experience in human resources, consulting and outsourcing.
Dutch company Powerteam Testing is looking for a partner
Dutch company Powerteam Testing is looking for a partner for introducing their employee evaluation software on the Romanian market
The Product is a software package for online employee assessment via an internet-based platform. What makes this product unique?
The content of any online assessment is adjusted to the specific needs of a customer. This means that validation of such an online assessment will be done in accordance to the customer’s specific requirements. Moreover, by introducing the assessments in Romania, a local psychologist will be involved to translate the online assessments into Romanian language, as well as to adapt it to Romanian culture.
Powerteam Testing values fast and easy to use webpages for users in several countries. Connecting them to the systems that are used by our customers gives the customer an easier access to the results of the online assessments. The connection can be used to support life long learning or learning on the job. Although we find it important to design the assessments as easy to use as possible, some candidates want to have some kind of explanation before entering a test. We can offer short video’s, cartoons or plain text, just what the customer finds suitable.
The reports that are available for the customers, via email or any other file transfer possibility, can be in several formats. Changes in technical formats (e.g. PDF or Word) are possible. Changes in language are also possible. An online assessment entered in one language might result in a report to the customer in another language. Retrieving a report at a later moment? No problem, since a copy of the reports can be kept for a period agreed with the customer.
The desired partner
Powerteam Testing is looking for a sales partner (company or person) with good knowledge of the Human Resources aspects and market in Romania.
Powerteam Testing is open to conclude a partnership agreement in several formats, e.g. partnership or shares in a new subsidiary of Powerteam Testing (e.g. Powerteam Testing Romania), including a fee per customer and/or per online assessment, etc. Exclusive sales rights may be negotiated. The Dutch organisation will in any case deliver e-mail helpdesk, back office support, sales support, and account management support for international or large customers.
Can be expressed by email to firstname.lastname@example.org - the Economic Section of the Embassy of the Kingdom of the Netherlands, that will provide Powerteam Testing with an inventory of interested parties, complete with their strong points.
So make sure that you let the Embassy know - no later than 30 May 2014 - of your interest, profile and experience.
Job opportunity for Dutch speakers
Automation & Control Solutions
Honeywell Automation and Control Solutions (ACS) is a $12 billion strategic business group applying sensing and control expertise that helps create safer, more comfortable, more secure, and more energy efficient and productive environments. ACS provides customers controls for heating, ventilating, and air conditioning, security systems, fire alarm systems, and energy management solutions. A pioneer in automation control, ACS also monitors and controls processes to improve productivity of complex industrial plants around the world. From home thermostats and integrated security systems to petrochemical refineries and process industries, Honeywell ACS is a global leader.Honeywell Security Group (HSG) is a strategic business unit in Automation and Control Solutions (ACS). HSG is a leading innovator, manufacturer and supplier of electronic security technology protecting millions of homes, businesses and government facilities across the globe. Products include burglar and fire alarms, access control and video surveillance systems. HSG serves customers worldwide from more than 120 offices in over 40 countries and its distribution business, ADI, has more than 200 branch locations.
Technical Support Engineer – for students or graduates from Automation, Electronics, Electrotechnics/Electrical Engineering
The Technical Support Engineer is required to provide support for one or more of the Honeywell Security Group product ranges – intruder, video and access control. Support for multiple product disciplines is a key target.
The Technical Support Engineer is responsible for provision of level 1 and level 2 technical support direct to the customer. This is normally provided via telephone, however, it can also include site visits and product investigations in order to determine the customer problem and potential solution.The following qualifications and/or experience are required:
- Experience or qualifications within the security industry
- Strong technical background
- Analytical and problem solving skills
- Excellent communications skills
- Excellent telephone manner
- Computer literate
- Advanced English and Dutch language skills.
Tehnologie si calitate la seminarul aluaturilor congelate
In perioada 4-5 aprilie Zeelandia a fost co-organizatoare a seminarului tematic dedicat industriei Brutariei, Patiseriei si Cofetariei. Evenimentul s-a desfasurat la Brasov sub egida “Tehnologia aluaturilor congelate”, la sediul furnizorului de echipamente si accesorii pentru morarit, panificatie, patiserie, cofetarie si gelaterie Novapan, ca urmare a parteneriatului dintre acesta si Zeelandia. La seminar au luat parte aproximativ 80 de persoane, reprezentand 40 de clienti, care au constientizat importanta noilor solutii, avand urmatoarele beneficii:
- o mai buna planificare a productiei;
- cresterea vanzarilor si a profitabilitatii;
- fidelizarea clientilor.
Un obiectiv important al seminarului a fost informarea participantilor cu privire la cum pot fi anticipate solicitarile consumatorilor si raspunsul prompt la aceste solicitari, prin eficientizarea productiei si dezvoltarea de produse si aplicatii noi.
In prim plan s-a pus accentul pe procesele intrerupte si aluaturile congelate, care au un rol decisiv in crearea de produse proaspete pe raft, indiferent de momentul zilei.
Printre produsele noi scoase la rampa de Zeelandia Romania in cadrul seminarului se numara:
- Nordix Super New - Ameliorator pulverulent pentru aluaturi nedospite congelate
- Nordix PB - Ameliorator pulverulent pentru produse de panificatie pre-coapte
- Nordix FF - Ameliorator pulverulent pentru aluaturi dospite congelate
- Nordix Croissant MZ - Ameliorator pulverulent pentru croissante si aluaturi daneze nedospite congelate
Simultan cu participarea la “Tehnologia aluaturilor congelate”, Zeelandia a prezentat pietei de profil noua sa gama de ciocolata belgiana Arabesque, in cadrul Expo GastroPan 2014, a VI-a Expozitie Internationala de Solutii si Tehnologii pentru Panificatie, Cofetarie, Gelaterie, Ciocolaterie, Cafea si Alimentatie Publica, desfasurata in perioada 4-5 aprilie, la Brasov.
New law regarding the sale and purchase of agricultural lands
Law no. 17/2014 intends to create a proper legal environment and encourage the merger of plots of agricultural land into large farms, which are considered more economically viable in terms of land exploitation. To this end the Law introduces a mandatory procedure in the sale of agricultural land located outside built-up areas and appoints the Ministry of Agriculture and Rural Development as the government institution responsible for supervision and control.
The main effect of the Law is to establish a number of pre-emption right holders in the sale and purchase of agricultural land located outside built-up areas, adding three new categories of pre-emptors in addition to tenants and establishing a mandatory order of priority between them.
As a consequence, any valid alienation of such land through sale and purchase agreements will only be possible by observing the pre-emption rights of joint owners, tenants, owners of neighboring land and the Romanian State (represented by the Agency for State Owned Land, in this precise order, at the same price and on equal terms.
Before concluding a sale and purchase agreement, sellers must notify the pre-emptors of their intentions by publishing a detailed sales notice at the City Hall of the county in which the land is located. This notice is to be displayed for 30 days at the City Hall’s premises, as well as on its official website, with no fees being collected in respect of this operation. Interested pre-emptors must submit acceptance letters to the City Hall within this 30-day period, and these will be displayed in the same manner.
If multiple pre-emptors from different categories express an intention to purchase the land in question, then the seller will be bound to choose a buyer by observing the aforementioned order of priority. However, the seller shall be free to choose any buyer from within the same category of pre-emptor. Furthermore, if a pre-emptor from a lower category offers a higher price than a pre-emptor from a higher category, then the seller shall continue the procedure by submitting another sales notice at the higher price.
Finally, if no pre-emptor submits an acceptance letter within the 30-day period, the sale will become open to others, at the same price (or higher) and under the same conditions stipulated in the sales notice. All sales concluded without observance of the pre-emption procedure, as well as sales concluded at lower prices and/or under more advantageous conditions than those stipulated in the sales notice, will be sanctioned with absolute invalidity.
The Ministry of Agriculture and Rural Development and its local subsidiaries will be the government institution in charge of supervision and control and will be responsible for the following: (i) publishing the sales and purchase notices on its website for 15 days; (ii) examining the exercise of pre-emption rights; (iii) examining whether a potential buyer fulfils the legal conditions; (iv) issuing letters of approval regarding the conclusion of sale and purchase agreements; (v) establishing and administrating the database of agricultural land located outside built-up areas; and (vi) applying the sanctions provided by the Law through its authorized staff.
The Law defines which breaches of its provisions constitute contraventions and establishes the same range of fines, between RON 50,000 and RON 100,000, for all of these. It also expressly states that no pre-contracts or option arrangements shall be affected by the Law, provided they were authenticated by notaries before the Law comes into force.
Grigore Cobalcescu 46, Sector 1, 010196 Bucharest
Tel: +40 /21/ 310 06 69
Fax: +40/21/310 06 68
E-Mail : email@example.com
Smartree Romania extends through a territorial office in Cluj
Smartree Romania is expanding its business by opening a territorial office in Cluj -Napoca. This is the fifth Smartree office, after those in Bucharest, Pitesti, Timisoara and Constanta.
The increased need for quality payroll services in the area, the lately development of significant local business, the presence in the region of Smartree clients as well and the tendency of multinational companies to relocate or open branches in Cluj county and surrounding areas are factors that have contributed to the decision to open an office in the territory.
The expansion project in Cluj enrolls in the plan of Smartree regional development in recent years.
"The Cluj region has great economic potential and Smartree Romania meets companies who need quality HR services in the area," said Adrian Stanciu, CEO Smartree Romania.
Smartree Romania recorded in 2013 an advance of 18% of revenues and an increase of 122% profit in compared with the previous year.
Press release - First King’s Day in history celebrated by Dutch community in Romania
PRESS RELEASE - First King’s Day in history celebrated by Dutch community in Romania
22 April 2014
On the 25th of April 2014 a large event, the Orange Night, will be organized in order to celebrate the birthday of King Willem-Alexander of The Netherlands. This is the first King’s Day in history – before King Willem Alexander took the throne last year The Netherlands had only queens – and it will be celebrated in Bucharest with an exquisite dinner and afterwards a party full of surprises. The Orange Night is organized by the Netherlands Romanian Chamber of Commerce (NRCC) in close collaboration with the Embassy of The Netherlands as partner. The main aim of the Orange Night in Bucharest is to strengthen relationships in the Dutch-Romanian community.
NRCC Executive Director Alex Mircea Dascalu says: ‘The Orange Night is a great occasion for members of the Dutch business community to invite clients and for them to experience Dutch culture. We will ask our guests to wear something orange, because it is also about de ‘oranjegekte’; the ‘orange madness’ that takes place in The Netherlands.’
The NRCC expects 200 guests for the dinner which will be prepared by Chef Paul Oppenkamp from restaurant The Artist. The dinner starts at 18.30h and contains Dutch specialties like Dutch herring, traditional hutspot (vegetable stew), erwtensoup (traditional pea soup) and orange tompoezen (cakes). At 22.00h the party will be officially opened by Dutch Ambassador Matthijs van Bonzel. All parts of the Orange Night celebrations take place at Biavati Events Venue (Strada Serghei Rahmaninov 2b).
The NRCC is a non-profit organization that supports Dutch-Romanian business and stimulates trade between the two countries. NRCC does this through creating business within the community of members, through a close contact with Embassy of The Netherlands in Romania, as well as Romanian government relations where necessary.
For more information please contact NRCC Communications Manager: anna.heijker [ @ ] netherlands [ . ]ro
HR Club Study: Smartree Romania, the first choice in HR administration services
Smartree Romania was chosen the first on Top HR Service Suppliers in HR Administration by Awareness Level, Usage & Potential, following a survey by HR Club & Daedalus Millward Brown in the period November 2013 - January 2014.
The study "The Romanian HR Services Market - A Client / Supplier Perspective - " published in February 2014, was conducted over all Romania among clients - responsible for HR activities in the company - and companies providing HR services.
In the selection of HR service providers, the most important criteria are ‘History in the field’, ‘Value for money’ and ‘Expertise’, according to the same study. Also, the services with the most potential for outsourcing in 2014, according to the respondents, are temporary work, payroll studies, executive search and training and professional development.
Smartree Romania provides payroll, personnel administration, temporary work and recruitment. Read more about Smartree services.
Press release - NRCC Announces New Executive Director and Communications Manager
Founded in 2005 by a visionary group of Dutch businessmen, the Netherlands-Romanian Chamber of Commerce (NRCC) focuses on organizing interesting events for and providing information to her members, increasing the visibility of the Dutch business community in Romania and representing it towards the Romanian authorities. The NRCC Board of Directors is pleased to announce new Executive Director in the person of Mr. Alex Mircea Dascalu and the new Communications Manager, Mrs. Anna Heijker.
Mr. Alex Mircea Dascalu is an experienced senior business developer, a professional business networker and BPM expert with proven results in designing and delivering best in class results. Over the years, he has demonstrated his ability to build and develop innovative solutions for enhancing competitiveness, increasing revenues, and improving service offerings. Mr. Dascalu has been Managing Partner for Greenfield Management Consult since January 2007, and also has been holding top management positions Vital Business Development & Consulting GmbH, Bundesverband mittelständische Wirtschaft (German Union of the Small and Medium sized Companies).
The new Executive Director declared: “I am confident that NRCC will become in the next two to three years one of the most successful business communities in Romania both for Dutch companies as for any company which operates in Romania and which is interested to do business with the Dutch business community. Our executive team will do its best to make sure that NRCC will remain a friendly and welcoming home for everybody who is looking to extend his / hers business and social network. We would like to become a reference model for the successful business communities in Romania.”
Anna Heijker, the new Communications Manager, has solid experience in developing marketing and communications strategies. She holds a Masters Degree in Dutch Language, during which she specialized in oral and written communication. Anna has been living in Romania since October 2012, where she established her own business in training and consultancy on communications. ‘I am delighted to join the executive team as the new Communications Manager and in this way support the business environment”, Anna Heijker said. “I will be responsible for increasing the visibility of the activities of the NRCC and make sure news and events are communicated in an optimal way to the members and the public.”
Alex Mircea Dascalu and Anna Heijker have started their work at the beginning of this February, completing the Executive Team of NRCC alongside the Operations Manager, Mrs. Ioana Rafiroiu. In the next months the team will focus its efforts in three major events: the visit of the Dutch Minister of Foreign Trade Ms. Lilianne Ploumen (23-25th of April), the Innovation Event (23rd of April) and the Orange Night (25th of April).
For further information please contact Anna Heijker: anna.heijker [@] netherlands [.] ro
Mircea Alex Dascalu Anna Heijker
Job opportunity for Dutch speakers in Bucharest
Honeywell Automation and Control Solutions (ACS) is a $14 billion strategic business group providing customers controls for heating, ventilating, and air conditioning, security systems, fire alarm systems, and energy management solutions. ACS also monitors and controls processes to improve productivity of complex industrial plants around the world.With approximately 130.000 employees worldwide, including 19.000 engineers and scientists, Honeywell has an unrelenting focus on quality, delivery, value, and technology in everything we make and do.
In this moment Honeywell has an opportunity for Dutch speakers in Bucharest. If interested please contact Gabriela.Lucaci-mazur@Honeywell.com
Flexible benefits, the new trend in employees' motivation
The benefits packages are a form of motivation and reward for employees and even more appreciated if the employee can choose his own package. Establishing the policies for benefits is a challenge for the company when trying to build flexible benefits tailored to the real needs of the employees.
The companies should take into account, when choosing the benefits, the following:
- Package of benefits offered by similar companies;
- Total number of employees;
- Amount value;
- Fiscal incentives;
- Categories of employees (sex, age, marital status, position held).
The flexible packages have the advantage of allowing each employee to choose from a wider range for the benefits that are acceptable in relation to their own needs and lifestyle.
Why companies choose flexible benefits?
There are a number of advantages when the employee can choose the benefits by his own:
- Total cost of benefits is reduced;
- The employee is thinking about what to choose and be more aware of (and appreciate) the benefits offered by the company;
- The employee will be satisfied with the benefits that fit him.
The company administrative effort can be quite expensive - formulate and communicate the benefits, record the employees preferences and satisfaction. MyStaff Flexible Benefits module is a cost effective solution, especially when the number of employees exceeds the administrative capabilities of the company.
Flexible Benefits, effective management of the process of employee motivation
The objective of MyStaff Flexible Benefits module is to provide an effective tool for managing the process of motivating employees through benefit packages. Starting from the idea that employees have a great diversity of priorities and needs, Flexible Benefits is helpful in:
- Manage the types of benefits;
- Benefits packages management;
- Manage other compensation / bonuses granted by the company.
The Flexible Benefits module allows transfer to Payroll for effective payroll with predefined selection options:
- Benefits for which the company should pay taxes and contributions - benefits in kind;
- Benefits for which no taxes or contributions will be paid;
- No benefits / taxes – non-transferable.
The Flexible Benefits organization can be in different categories - types of benefits, suppliers, predefined packages, benefits which are chosen together.
The categories of benefits are logically organized so that an employee cannot select the same type of benefit from different providers (e.g., medical insurance from different clinics).
When implementation, the module is customized according to the organization and will define the name of benefits, calculation, expiration date, type, amount (gross or net), value.
Find out how MyStaff Flexible Benefits can help you in your business, request an analysis
How does the choice of flexible benefits works
The HR responsible defines a campaign and selects the benefits that the company can offer.
The characteristics of benefits campaigns in MyStaff Flexible Benefits module:
- Variable frequency - annual, monthly, quarterly, etc.;
- Tailored to the types of employees, suppliers or benefits;
- Unlimited number of campaigns;
- Filter by features such as type of contract, norm, mark and also employee direct search;
- Manage both general and per employee campaign;
- Defining a limited period of selection of benefits.
When the campaign is active, the workers for who it is intended (previously selected) will receive an automatic email for choosing the benefits to which they are entitled. In MyStaff Employee Self Service module the employee selects the benefits; these are saved and correlated with MYStaff Payroll module when the payroll is made.
The campaign can stop at the deadline or be stopped for all employees or for certain employees at some point before the deadline.
The transfer to Payroll is done by selecting the period, the running campaigns and generating the benefits packets and the related taxes and contributions.
The employee can announce that he wants to change the benefits package. In this case, the HR officer may stop an ongoing campaign just for that employee and reopen another one intended only for him, where he chooses the new benefits. The process of transferring to payroll is resumed for that person with new data. In this way, MyStaff Flexible Benefits module really ensures flexibility for both employers and employees.
For more details please visit: www.smartree.com
Contact us: firstname.lastname@example.org
A new program available for Energy Efficiency for SMEs
On February 10th the Energy Efficiency Program for SMEs in the industry, funded by the EEA Mechanism was launched.
Measures financed under the program include :
- Improving energy efficiency in electric drive systems (transformers, compressors, motors) ;
- Improving energy efficiency in heating and cooling systems (heat pump use, modernization of industrial heating / cooling processes) ;
- Improving energy efficiency in complex systems (replacement of existing equipment with newer, more efficient appliances with high yields) ;
- Improving energy efficiency through modernization of production lines and equipments of technological installations.
Financing value : 200,000 Euro - 700,000 Euro .
- Small enterprises: 70 %, and for projects implemented in Bucharest-Ilfov - 60% .
- Medium Enterprises: 60 %, and for projects implemented in Bucharest-Ilfov - 50%.
The first call for proposals will be launched by the end of February and will be open for a period of 2 months.
For more information and details about this funding opportunity, please contact us.
VAPRO can help you develop a successful project !
Netherlands Embassy seeking matchmaking services
Netherlands Embassy seeking matchmaking services
The Netherlands Embassy in Bucharest is looking for consultants to assist in matchmaking services (Business to Business) for an incoming trade mission. Interested companies with matchmaking and organizational skills and experience, can ask for the Terms of Reference at BKR-EA@minbuza.nl . Closing date is 20 February.
TRAFFIC OFFENCES: REINFORCING EUROPEAN COOPERATION
Car drivers are required to comply with the traffic rules of the countries where they drive, knowing that each State has its own traffic rules.
In order to allow the application of sanctions for traffic offences committed in a member State with a vehicle registered in another member State, the EU has adopted Directive 2011/82/UE, facilitating the information exchange relating to traffic offences. Thus, drivers who are not stopped immediately in the European country where they have committed the offence may be prosecuted in their own country.
All countries of the European Union (except for Ireland, the United Kingdom and Denmark) had to transpose the Directive until November 7th 2013. France has transposed it in June 2013, whereas Romania has taken this measure at the beginning of 2014, by means of Law no. 5/2014.
At present, Romanian authorities have access to the database of all European countries having transposed the Directive, in order to sanction European drivers who have committed traffic offences in Romania. Moreover, information concerning the owner of the vehicle or concerning a vehicle registered in Romania may be communicated by the Romanian authorities to the competent services from another member State if an offence has been committed by a vehicle registered in Romania.
TRAFFIC OFFENCES THAT MAY BE PROSECUTED WITHIN THE EU
At present, 8 offences may be subject to international prosecution, i.e.: (i) speeding, (ii) non-use of seatbelts, (iii) failing to stop at a red traffic light, (iv) driving under the influence of alcohol, (v) driving under the influence of drugs, (vi) failing to wear a helmet, (vii) driving on a “no-entry” road and (viii) the illegal use of mobile phones or any other communication device while driving.
PROSECUTION OF EUROPEAN CAR DRIVERS BY THE ROMANIAN AUTHORITIES
The letter shall notify the recipient of the fact that he is subject to prosecution and it shall also contain additional information, such as: the elements of the offence, the sanction, the means and payment delays of the fine, the authority in charge of the prosecution, possible means of appeal and the answer delay to the letter, which cannot be inferior to 30 days. The recipient of the letter has the possibility to pay half of the minimum amount of the fine and to inform the authorities about this payment.
Within 2 months from the application of the fine, the Romanian authorities shall sign the offence notice and shall send it to the offender. In general, if the offender having received the offence notice refuses to pay, the Romanian authorities may request to the competent authorities of the driver’s country of residence to collect the fine (under the principle of the mutual recognition of financial penalties within the EU, transposed into the Romanian legislation by means of Law no. 302/2004 on international judicial cooperation in criminal matters).
Drivers of vehicles registered in a member State who have committed traffic offences in Romania and who have not been stopped immediately for these offences may be pursued by the Romanian authorities when returning to their country of residence.
Thus, a notice letter – drafted in the language of the vehicle’s registration document – shall be sent by the Romanian authorities by registered letter with acknowledgement of receipt to the owner/holder of the vehicle or to the person suspected of having committed the offence.
PROSECUTION OF THE DRIVER OF A VEHICLE REGISTERED IN ROMANIA BY THE AUTHORITIES FROM ANOTHER EUROPEAN COUNTRY
Under Law no. 5/2014, traffic authorities from other member States may ask Romanian authorities for information in order to prosecute the driver of a vehicle registered in Romania for traffic offences committed in another European country if the respective driver has not been stopped at the scene.
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT LAW OFFICE
FREEDOM OF ROMANIAN WORKERS IN THE EU AND WORK CONDITIONS FOR FOREIGN CITIZENS IN ROMANIA
Starting from 2014, Romanian citizens are free to work in any member State of the European Union, thus benefitting from the same freedom of movement as all other European workers, without any other formalities. Hereinafter you may find further information on this subject, as well as a brief presentation of the work conditions in Romania for foreign citizens.
THE END OF THE TRANSITION PERIOD OF THE FREEDOM TO WORK CONCERNING ROMANIAN CITIZENS
When Romania joined the European Union in 2007, several parties imposed certain restrictions on the Romanian workers’ freedom of movement. For example, a Romanian citizen wishing to work in France had to obtain a work permit. If that job was included on a list of 291 jobs (especially in domains such as farming, building constructions, maintenance, agriculture etc.), it was easier for the worker to obtain the respective permit.
Between 2007 and 2013, 18 countries of the European Union ceased to require or waived the freedom of work restrictions for Romanian citizens. As of January 1st, 2014, France, Germany, England, Austria, the Netherlands, Belgium, Luxembourg, Malta and Spain have also waived restrictions for Romanian and Bulgarian citizens.
WORK CONDITIONS IN ROMANIA FOR FOREIGN CITIZENS
The framework for foreign citizens entering and working in Romania is different in accordance with their country of residence, i.e. the EU, the EEE or third countries.
- a. EU and EEE citizens
All citizens of the EU and EEE may come to Romania freely; the sole formality they have to comply with is to submit a valid identity card or passport. Nevertheless, European citizens staying in Romania for more than 3 months have to obtain a residence permit, titled “certificate of registration”, from the local office of the General Inspectorate for Immigration (http://ori.mira.gov.ro/). The latest amendment of the legal framework of the entry and residence rights on Romanian territory for EU or EEE citizens is Law no. 235/2013. As regards employment on Romanian territory, EU and EEE citizens are entirely assimilated to Romanian citizens and are subject to the same legal regime. Consequently, they are exempted from the obligation to obtain a work authorisation/permit.
- b. Third country citizens
Foreign citizens from outside of the EU and the EEE are subject to a series of obligations and formalities in order to enter into Romania and work here.
Firstly, in order to enter on Romanian territory, they have to submit a series of documents, among which their visa and, if need may be, their residence permit, documents certifying the scope and the duration of their stay and if they stay in Romania for more than 90 days during a period of 6 consecutive months, they must obtain a temporary residence permit.
Moreover, this type of foreign citizen, relocated or employed by a Romanian company, must first obtain a work permit. This permit is usually valid for one year and it can be extended by additional one-year periods, at the company’s request.
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT LAW OFFICE
Grupul Zeelandia obtine certificarea RSPO MB
Certificatul atesta contributia companiei la conservarea marfurilor agricole, ca proiect integrat in politica de sustenabilitate a companiei.
Grupul Zeelandia a obtinut certificarea Sistemului de Echilibrare al Masei (MB), sistem ce apartine Mesei Rotunde pentru Uleiul de Palmier Sustenabil (RSPO). Conform acesteia, Zeelandia contribuie la conservarea marfurilor agricole, ca proiect integrat in politica de sustenabilitate a companiei. Politica de sustenabilitate a companiei este cu atat mai importanta cu cat produsele de panificatie fabricate de Zeelandia Olanda sunt folosite atat in Tarile de Jos, cat si distribuite la filialelor Zeelandia din intreaga lume.
La intrebarea “Care au fost motivele care au stat la baza certificarii”, Directorul de Achizitii al Zeelandia Group, Hans van Ditmarsch, a afirmat ca “Aceasta certificare este foarte importanta atat pentru noi, cat si pentru clientii nostri care, la randul lor primesc din partea consumatorilor o serie de cerinte in ceea ce priveste produsul final. ”
Conceptul de “sustenabilitate a uleiului de palmier” face referire la faptul ca uleiul de palmier este procesat respectand principiile si criteriile stabilite de RSPO. Zeelandia s-a alaturat membrilor RSPO in 2011.
In prezent, nu toate produsele de ulei de palmier sunt viabile pentru certificarea RSPO. Produsele de pe plantatiile certificate RSPO sunt cumparate conform asa numitului sistem "Echilibrare a Masei". Sistemul comercial de Echilibrare a Masei consta in amestecarea uleiului de palmier sustenabil cu ulei de palmier obisnuit in timpul depozitarii si transportului. Fiecare proces al amestecarii uleiului durabil este declarat si inregistrat, pana la procedura de rafinare.
Conform acestei proceduri, Zeelandia HJ Doeleman a fost recent auditata de catre Uniunea de Control, cu scopul de a fi evaluat Sistemul Echilibrului Masei. Odata cu finalizarea cu success a acestui audit, Zeelandia a primit certificarea sistemului de echilibrare a masei RSPO.
NEW FISCAL RULES STARTING FROM JANUARY 1ST 2014
The subject of our first article this year focuses on the fiscal domain. As usual, the new year began with a series of substantial fiscal changes (already into force since January 1st 2014, as per the Emergency Ordinance no. 102/2013). These new provisions are presented to you below:
TAXPAYERS OBTAINING RENTAL REVENUES SHALL PAY THE HEALTHCARE INSURANCE
Starting from this year, persons obtaining rental revenues must pay the contribution to the healthcare insurance budget (CASS), in an amount of 5.5%, even if they are already insured on the basis of the revenues they obtain from other sources. The monthly calculation basis of this contribution is the difference between the taxable gross revenue and the amount of the lump sum expenditures of 25% at most. The calculation basis may neither be inferior to the gross minimum salary, nor superior to 5 medium gross salaries.
INCOME TAX FOR MICROENTERPRISES
Microenterprises shall continue to benefit from a special taxation regime, i.e. a 3% tax on their turnover. Nevertheless, the amount of the income obtained from consultancy and management activities by an enterprise comprised in this category may not exceed 20% of its total income. Otherwise, the company shall lose its microenterprise status and shall pay the income tax starting from the following fiscal trimester.
TAX ON DIVIDENDS
Tax on dividends is 16% for Romanian or foreign natural or legal persons (10% under the French-Romanian Tax Convention, after submitting a tax residence certificate).
For Romanian and foreign legal persons from the EU and the EEA: 0% if the beneficiary owns, at the date of payment of the dividends, at least 10% of the payer’s capital, that it has owned for at least 1 year – otherwise, a 16% taxation rate (a 50% rate if the dividends are paid in a State that has not signed any tax convention with Romania, allowing information exchange). In fact, the 2-year period for holding shares in a Romanian company in order to benefit from the tax on dividends was reduced to 1 year.
TAX ON SPECIAL BUILDINGS
Aside from the local tax on property for buildings, the authorities have introduced a tax on special buildings, such as: industrial buildings (except those in the food and chemical industries), metallic buildings, hydroelectric plants, oil wells, head frames, agricultural and livestock buildings etc. The rate of this tax is of 1.5% of the accounting value of the building. Taxpayers subject to this tax are mainly Romanian or foreign legal persons carrying out their activity in Romania through permanent headquarters, and European companies headquartered in Romania.
VAT ON COLLECTION
Until January 1st 2014, the payment of the VAT on collection was compulsory for companies with a turnover inferior to 2.2 million lei, i.e. the VAT had to be paid at the payment of the invoice and not at its issuance. As of this year, the VAT on collection becomes optional for most of the companies with an annual turnover inferior to 2.25 million lei.
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT LAW OFFICE
TripAdvisor travellers rate K+K Hotel Elisabeta Romania’s best hotel
TripAdvisor travellers rate K+K Hotel Elisabeta Romania’s best hotel
TripAdvisor has named K+K Hotel Elisabeta in downtown Bucharest as Romania’s best hotel according to its users’ reviews, with establishments from the capital dominating the top ten. More details here
Registreren bij verblijf in het buitenland
Registreren bij verblijf in het buitenland
Moet ik me laten registreren bij de Nederlandse ambassade of het consulaat?
In geval van nood, zoals bij een natuurramp of (dreigende) onrust is het van levensbelang dat wij u kunnen bereiken en/of informeren. Hiervoor bieden wij u het Kompas online crisis contactsysteem aan. Aanmelden is kosteloos, eenmalig en vrijblijvend en neemt minder dan vijf minuten in beslag. U hoeft daarna alleen nog uw gegevens te wijzigen als u op reis gaat of verhuist. Kompas bewaart en beveiligt uw contactgegevens. De door u opgegeven gegevens worden uitsluitend gebruikt om contact met u op te nemen en u te helpen in geval van nood.
>> Voor meer informatie klik hier >>
Dutch Foreign Affairs Minister comes to Bucharest
Frans Timmermans, Dutch Foreign Affairs Minister, is expected to arrive in Bucharest on 27 January, where he will meet with Prime Minister Victor Ponta and his Romanian counterpart, Titus Corlatean, according to the agenda published Friday on the Dutch Foreign Affairs Ministry website. Minister Frans Timmermans will be attending meetings with Dutch businesspeople in Romania and NGO representatives. According to the Dutch Foreign Affairs Ministry, discussions with NGO representatives will focus on the rule of law and good governance.
According to the Romanian Foreign Affairs Ministry, the Dutch Minister’s visit is an opportunity to diversify and deepen Romanian and Dutch bilateral relations, and it is part of the political and diplomatic dialogue between the two countries.
Minister Ploumen leads Trade mission to Romania (22-25 April)
Join the trade mission to Romania in spring of 2014!
Romania offers lots of business opportunities for Dutch companies and knowledge institutions. A strategic location, a growing economy, a large market, skilled labour, abundant land and resources, excellent language skills, EU-funds and an ideal place for ‘nearshoring’ activities (ICT, production).
Are you interested in meeting new business partners? Do you want to explore new business opportunities? Do you want to strengthen the ties with your existing business partners or clients, during a high-level visit?
Take this opportunity to travel with the Minister to Romania.
The mission will visit Bucharest and Cluj-Napoca. The focus will be on the sectors water and agriculture (dairy/horticulture). Companies from other sectors are also welcome!
For more information: contact the Rijksdienst voor Ondernemend Nederland (voorheen AgentschapNL) (email@example.com, 088-602 1120) or the Embassy of the Netherlands in Romania (www.netherlandsemb.ro).
Dutch local investment sentiment stabilizes
Robin van Rozen, newly appointed acting president of the Netherlands Romanian Chamber of Commerce (NRCC), says that IT and agriculture are among Romania’s strong points in attracting foreign investments. He pointed out that Dutch investors’ sentiment towards Romania – which has resulted in EUR 7 billion in FDI – has stabilized.
How will the liberalization of the remaining EU labor markets for Romanians impact Dutch companies employing local workers?
The NRCC is pro European Union, and free labor markets are something we really endorse. We do not see it as a threat or an issue. It is good for business. Romanians working in Holland should get the same benefits and the same kind of salaries as Dutch people get.
What is the level of Dutch investments in Romania and what is investors’ sentiment like?
There are 4,000 Dutch companies in Romania and the investment level stands EUR 7 billion. The business sentiment is stabilizing. We are slowly getting more confident. I’m hearing many more people talking about the future and opportunity in Romania than at the beginning of 2013. The sentiment is getting more positive, though still very cautious. The tradition with the Dutch is transport and logistics, IT and agriculture. These are the strongholds, I think, compared to other Eastern European countries.
What lessons can Romania learn from the Netherlands on agriculture?
In Holland we have 2 million hectares of farmland, which provide food for 100 million people. The 12 million hectares in Romania provide food for only a much smaller number of people. For me that shows opportunity.
What are Dutch investors’ main concerns surrounding Romania?
The top concern, which is not about Romania alone, is stability. Stability in policymaking and taxes is what foreign investors look for. Then, there is another discussion where Romania performs very well, which is the capabilities of the country, especially the labor force. People are quite positive in this area compared to other Eastern European countries.
It is the skilled labor force that always comes up; of course the level of English is very high compared to other countries. In addition, from what I have experienced myself, there is generally a positive business attitude. Romanians are keen to work and progress, which are key ingredients when you make investments.
Do investors still perceive Romania as a country with low labor costs?
For cheaper labor, you go to different countries where there is not that much of a skilled labor force. I think here you can see how you can have almost the best of both worlds – yes, labor costs are cheaper than the rest of Europe, that’s a fact, but you can have skilled labor, which is essential. I think the Dutch see the Romanian market more from that perspective, considering the relatively cheap and skilled labor.
Is it easier to find skilled workers in Romania, because this is one of the core issues mentioned by foreign investors locally?
I think whether you can find skilled labor depends on the industry. One of the industries that is doing extremely well in Romania is IT. When I talk to IT companies, I do hear them say it is getting more difficult to find good workers, because the pool is only so big, so it is almost a missed opportunity. I would almost be tempted as a country to say, let’s put more people in IT because we can export more as a country. In this field, I hear people saying it is more difficult. For the rest, I’m not hearing that much, to be honest.
What are some of the initiatives undertaken by the NRCC to improve the local business environment?
We are bringing companies together to let them talk to each other, to see if there are mutual benefits. I have experienced this myself in Holland and you can leverage that. For example, we have a lot of different services like equipment, consultancy, and a lot of practical points like travel agents. It opens up opportunities and it is direction setting.
We have launched a nearshoring guide to give more guidance and support to what needs to be done, to set up your business in Romania, for example, but also what the government can do to make it easier first. Policymaking and giving advice is, I think, another building block of our association.
My personal interest is in IT because one thing I noticed when I came to Romania is how successful and big this industry is in Romania, and also in Holland I see we are quite strong, so this is a win-win situation. It feels like this is an opportunity both countries can further leverage, as some of our members are Dutch IT companies.
The NRCC currently has 120 members, coming from banking, oil, industry, art, culture and consumer goods, so it is a balanced picture.
What’s in store for Romania regarding the nearshoring initiative?
We can say we are selling Romania in terms of putting it on the investors’ map. A lot of Dutch investors are not aware of Romania. The PR engine is not so big that they can immediately say the country’s unique selling points. Some other countries are sometimes better at selling themselves and making themselves sound more attractive.
We’re trying to make Romania less of a black hole for some of our investors, and I think that is beneficial to Romania. Stability in regulation and taxes is essential, and the companies I talk to are quite positive.
You came here from the Czech Republic – can you compare it with the business environment in Romania?
My personal experience is that Czechs are very good engineers and you have a lot of small engineering start-up firms, linked to the car industry. In Romania I see more entrepreneurs, more people with business sense, more commercially adapted, and that is why start-up companies in the Czech Republic are in the engineering field and here more in IT – it makes perfect sense.
As Romania grapples with record low levels of FDI, do you have any recommendations on how to attract more investors to the country?
Apart from the government issues regarding policymaking and stability, other points are EU funding. It is really useful when the government develops really long-term plans, such as five-year plans, because it will help get more EU funding realized. For me, among the points I hear some of our members make, and I think it makes sense, is that it would be good to a set up a unit within government for foreign investors. We need more communication with foreign investors about what opportunities there are in Romania.
Is the NRCC making any recommendations on how to improve Romania’s absorption of EU funds?
Yes, we are involved and the companies we represent are in some cases already involved as well, but we make clear recommendations. For instance, what I saw in Bulgaria is that along with the government, they have developed a five-year plan for healthcare, something that would be great in Romania too.
I do not think the NRCC can do that on its own; it is too ambitious. But the NRCC together with perhaps other chambers or organizations can help there. Sometimes we can be critical of the Romanian government, but I think we should also be critical about our organizations. One thing I came to realize after discussions with a lot of people is that the Romanian business community is rather fragmented, so supposing the government wants to talk to the business community, to whom should they talk?
In Holland, there is one organization that represents the business community. It is good if we as chambers work closely together to help to build this country.
Did you first come in Romania in 2013?
No, when I was in Prague I was responsible for 18 markets, so all of Eastern Europe, and I also visited Romania. I can still remember in 2010, when the crisis hit Romania, I was here and that was depressing. I went to Baneasa Shopping Mall and there was nobody there at a peak hour, and that was sad to see, but I think that is long past.
Do Dutch companies complain a lot about the government, politicians and policymaking in the Netherlands?
You always have people that have a different view. As a nation, we are quite balanced, so I think when it comes to Romania we have the same stance. Of course, some politicians are complaining about the opening of the labor markets, but I think that overall it is quite positive because they are pro Europe. There is not so much complaining.
THE DECREASE OF THE NUMBER OF GREEN CERTIFICATES
After numerous debates concerning the overcompensation of investors in the renewable energy sector due to the green certificates granting system, the number of green certificates granted shall be reduced following a decision of the Romanian Government (no. 994/2013), published in the Official Journal this Monday (December 16th 2013), which shall enter into force as of January 1st 2014.
WHAT IS A GREEN CERTIFICATE AND HOW DOES IT WORK?
The green certificate is a title certifying the production and delivery by an energy producer of one megawatt of energy from renewable sources.
Depending on the quantity of energy produced and delivered, producers receive green certificates, which can be traded on the energy markets. The minimum trade value of a green certificate is 129.64 lei (approximately 28 Euros), whereas the maximum value of such a certificate is 264.09 lei (approximately 58 Euros) – as per Order no 10/2013 of the Romanian National Energy Authority (ANRE).
Electric energy suppliers are obliged by the law to purchase a certain number of green certificates each year. Part of the value of these certificates is included in the invoice received by consumers, increasing the final electricity bill.
HOW SHALL GREEN CERTIFICATES BE GRANTED AS OF JANUARY 1ST 2014
Recent legal changes apply to producers holding renewable energy power plants or installations put into operation after January 1st 2014. The number of green certificates to be granted shall be as follows:
- for hydroelectric power plants: 2.3 green certificates for each megawatt produced;
- for wind power plants: 1.5 green certificates for each megawatt produced until 2017, respectively 1.75 green certificates starting from 2018;
- for solar power plants: 3 green certificates for each megawatt produced.
As regards producers who have already put into operation renewable energy power plants or installations – Law no 220/2008 on the establishment of the promotion system for the production of renewable energy, amended by the Emergency Ordinance 57/2013 -, the number of green certificates granted shall be as follows:
- for new hydroelectric power plants: 3 green certificates for each megawatt produced. For the period comprised between July 1st 2013 and March 31st 2017 only 2 green certificates shall be granted; the granting of a third certificate was reported until March 31st 2013 and it may be recovered after April 1st 2017;
- for wind power plants: 2 green certificates for each megawatt produced until 2017 and a green certificate starting from 2018. For the period comprised between July 1st 2013 and March 31st 2017 only one green certificate shall be granted; the granting of the second certificate was reported until March 31st 2017 and it may be recovered after January 1st 2018;
- for solar power plants: 6 green certificates for each megawatt produced. For the period comprised between July 1st 2013 and March 31st 2017 only 4 green certificates shall be granted; the granting of the two certificates was reported until March 31st 2017 and they may be recovered after April 1st 2017.
All non-granted certificates shall be recovered in stages.
These measures aim at preventing the overcompensation of producers, as well as reducing the energy prices paid by consumers, but they could also deter investors wishing to invest in the renewable energy sector.
**** The GRUIA DUFAUT Law Office wish you an excellent New Year!
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT LAW OFFICE
INCREASE OF THE MINIMUM WAGE STARTING FROM JANUARY 1ST 2014
We are reminding you that the gross basic minimum wage at the national level is the lowest wage that an employee can receive when employed under a full-time individual labour agreement.
According to the Eurostat statistics, the basic minimum wage in Romania, which does not exceed 180 Euros in 2013, was the lowest minimum wage in the European Union in 2013. The level of the “Romanian SMIC” is established each year by a Government Decision, after trade unions and employers’ organizations are consulted.
Government Decision no. 871/2013 (published in the Official Journal no. 703/15.11.2013) provides an increase of this minimum gross wage guaranteed at the national level starting from January 1st 2014.
Thus, this minimum basic gross wage shall be of 850 lei per month (i.e. approximately 190 Euros) for a full-time of 168 hours per month, i.e. 5.058 lei/hour.
In accordance with article 164 of the Labour Code, the employer cannot negotiate and provide in the labour agreement a basic wage inferior to the national hourly gross wage.
The establishment of a basic wage inferior to the one provided by the legal provisions shall be sanctioned by a fine between 1.000 lei (approximately 220 Euros) and 2.000 lei (approximately 440 Euros). The fine shall be issued by the representatives of the Territorial Labour Inspectorate.
Given that this is a modification imposed by the law, in accordance with the Labour Code (article 17 paragraph 5) it is not compulsory to conclude an addendum to the labour agreement referring to the wage change.
A SECOND INCREASE OF THE MINIMUM WAGE SHALL TAKE PLACE IN THE SUMMER OF 2014
In accordance with the same Government Decision no. 871/2013, starting from July 1st 2014 the minimum basic gross wage guaranteed at the national level shall be of 900 lei per month (approximately 200 Euros) for a full-time job of 168 hours per month, i.e. 5.357 lei/hour.
**** We hope that this information was useful to you!
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT LAW OFFICE
NEW RULES FOR THE CERTIFICATION OF TRADITIONAL FOOD PRODUCTS
Nowadays, many consumers think that a part of the products they buy from supermarkets or from little stores are traditional products. Nevertheless, even if the name of “traditional product” is largely used by producers and retailers in order to promote their merchandise, it is important to know that only a part of the products sold on the Romanian market are indeed traditional products, in accordance with the legal provisions.
As of next Wednesday, Romanian products bearing the “traditional product” label will be sold by retailers under this name only if they comply with the new provisions jointly elaborated by the Ministry of Agriculture, the Ministry of Health and the National Authority for the Protection of the Consumers, drafted and comprised in Order 724/1.082/360/2013. The certifications delivered before the entry into force of the abovementioned provisions shall continue to be valid for 9 months.
WHAT IS A TRADITIONAL PRODUCT?
A traditional product is a food product made in Romania with local raw materials, without additives, colouring agents, flavours, vitamins or artificial sweeteners; the fabrication procedure of these products complies with a traditional recipe.
CONDITIONS AND PROCEDURES FOR THE CERTIFICATION OF A TRADITIONAL PRODUCT
Products made in accordance with an ancient recipe and following a traditional procedure or technique is deemed a traditional product if it is certified by the competent authorities.
Thus, in order to certify a traditional product, one must file an application with the county agricultural authority; this application must be accompanied by several documents indicated in the abovementioned Order, among which the specifications relating to the traditional product. These specifications must include:
- The product name;
- The description of its characteristics and of the raw materials composing it;
- The technical procedure to be complied with for the fabrication of the
- The local production method used;
- The description of the elements defining the specificity of the product;
- The annual production capacity (it cannot exceed 150 kilograms or litres per
- day for each certified traditional product);
- Information concerning the age of the product;
- Proof of the fact that its recipe was passed from generation to generation;
- The product’s historic relationship with the place where it is produced.
The documentation is verified by the representatives of the competent agricultural authority, who also travel to the place where the product is made. If the legal conditions are fulfilled, the product receives the “traditional product” certification.
Then, it shall be registered in the National Register of Traditional Products (RNPT), created and managed by the food industry general directorate, an entity subject to the Ministry of Agriculture. The RNPT is published annually on the website of the Ministry of Agriculture.
EFFECTS OF THE CERTIFICATION
The display of copies of the documents attesting the registration in the National Register of Traditional Products is compulsory in the commercial spaces where traditional products are sold. Traditional products shall be identified by the label “Traditional Product”, managed by the Ministry of Agriculture; this label cannot be transferred or pledged. The illegal use of the label is punished under the legal provisions.
**** We hope that this information was useful to you!
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT LAW OFFICE
A guide to Romanian oil and gas taxation
Ramona Jurubita, Partner, Deputy Head of Taxation Services, KPMG Romania
Taxation has become a more and more demanding issue for companies in the oil and gas industry, especially after the introduction of additional taxes starting from 1 February 2013. 2014 will also represent a milestone because the basis of a new tax system for this sector will be discussed and implemented. The new system should be applicable from 1 January 2015.
Moreover, the new tax changes applicable starting 1 January 2014 requiring the payment of 1.5% on the value of constructions owned by the taxpayer will most likely have a significant impact on this industry as well. Although this tax does not apply for constructions for which building tax is payable, or constructions owned by the state or which are due to be transferred to the state, it will, however, be payable for gas and petroleum wells, grids and pipe ducts. These assets have been exempt up to now. Consequently, it is important for each company in this sector to review the taxable base for the purposes of calculating this tax , for example, by identifying those elements which could be deducted from the value of the constructions, both from an accounting and a fiscal point of view.
Nevertheless, in spite of the sometimes challenging fiscal environment in Romania, there are numerous opportunities for the sector which continue to make it very attractive for investors, for example the recent discoveries in the Black Sea, as well as the possibility of exploiting shale gas.
To help investors get the benefit of these opportunities, while at the same time understanding their fiscal obligations, KPMG in Romania has launched the first edition of A Guide to Romanian Oil and Gas Taxation. This guide was created to offer a complete picture of taxation in Romania, as well as of general and specific taxes applicable in the oil and gas industry. The Guide is divided into 4 sections, as follows:
- Section 1 presents a complete image of the oil and gas reserves currently existing in Romania, as well as of Romanian oil and gas consumption.
- Section 2 contains information about the main taxes applicable to companies in this field. For example, it contains details of the calculation method of taxable profits, as well as an explanation of relevant VAT legislation. It explains withholding tax, excises, customs duties and local taxes.
- Section 3 outlines specific taxes applicable in the oil and gas industry, i.e. royalties that should be paid by the companies which exploit or transport these resources or the additional taxation applied as a result of the decentralization of the natural gas market.
- The last section presents a few general issues that a company has to face when performing exploration and exploitation activities, such as the foreign exchange regime applicable to transactions carried out and the implications of the agreements specific to this industry.
Vacancy at the Netherlands-Romanian Chamber of Commerce
Job Title: Executive Director
During the last 3 years the Netherlands-Romanian Chamber of Commerce has shown a significant and consistent growth from 50 to 120 members, as well a wider visibility through a new website, newsletters and a members’ directory. Due to the departure of the current Executive Director a vacancy occurs.
The duties of the Executive Director include the daily management of the Chamber, representing the Dutch interests in diverse settings and initiating relevant events. This includes, but is not limited to, the following tasks:
- Through an active management add value to the members and therewith attract more members
- Organise and prepare monthly Board Meetings
- Participate and contribute, with the Dutch perspective in mind, in Coalition meetings and Task Forces
- Organise and prepare a yearly Strategy Meeting
- Organise and prepare the yearly General Assembly of Members, at which the Members Directory is issued
- Initiate and organise events like networking events, knowledge centers, events with other bilateral Chambers of Commerce and other Business Associations
- Maintain good and productive relationships with the Netherlands Embassy in Romania as well as with sister organisations like Dutch Romanian Network (The Netherlands) and Dutch Business Club (Cluj-Napoca)
- Continue the process of involving more and more members in the Chambers’ activities
- Issue a monthly newsletter
- Build out the membership in the country
- Maintain a healthy financial situation
- Conduct a member survey
- Organise a yearly Dutch flagship event: the OrangeNight (25 April 2014)
The Executive Director reports to the Board of Directors, in particular to the Chairman of the Board. He is responsible for performance and wellbeing of the Operational Manager of the Chamber. The position is based in Bucharest.
Key requirements include but are not limited to:
- University degree
- Previous management experience in the private sector in Romania, showing increasing results
- Experienced people manager with good listening skills
- Good communicator and good relationship builder
- Consultative sales attitude, looking for customised solutions
- Very well organised and easy in summarizing and briefings
- Knowledgeable about social media to increase visibility and impact
- Fluent business level of English language is mandatory
- Knowledge of the Dutch and/or Romanian language is an advantage but not essential
What we offer
The role of Executive Director of the NRCC provides:
- A full-time job, which can be filled in as part-time
- An attractive compensation package
- A bonus when objectives are met
- An independent position, without fixed office hours
- 1 smart independent colleague, who supports where possible
We are looking for an entrepreneurial, diplomatic, self-motivated individual, who can work as well individually as in a team, having relevant background. If you are interested and you meet the above mentioned requirements, please send your resume to firstname.lastname@example.org no later than 31 December 2013.
Netherland Romanian Chamber of Commerce and Acorns Foundation support Early Education in Romania
In 2013, Netherland Romanian Chamber of Commerce organised a raffle, inviting its members to buy tickets and thereby support the “0 2 3 Early Education” Project launched by Acorns Foundation. The project aims to raise awareness throughout the general population about the importance of very early learning experiences for babies and children, to offer support and training to those working in state crèches.
In Romania, the crèches have until recently been run as medical institutions, they have large groups of children with one medical nurse and one unqualified assistant; this is an environment which does not meet the children’s educational needs, with very few resources. Acorns believes a crèche shouldn’t be simply a place where children are supervised or disciplined but a place where their intellectual, physical, social and emotional needs are met by experienced and trained staff, using suitable, colourful and stimulating resources.
The total amount collected (3,340 lei) was used by Acorns Foundation to buy resources for 4 book corners in Cercelus Crèche, one of the oldest state crèches in Bucharest (sector 3), which has 60 children enrolled aged 12 months to 3 years. Cercelus is the pilot crèche for the 0 2 3 Early Education project.
The donation consisted of:
- 128 children’s books (selected by Acorns Foundation, especially for these age groups)
- 8 books shelves (2 in each group)
- 12 large pillows (to make the book corners cosy and inviting for the children)
- 12 large plastic boxes for books and other resources
Why book corners?
We aimed to create a stimulating learning environment, with appropriate resources to support the emotional, social and intellectual development of children enrolled in this institution and to promote the importance of sharing books with children aged 0 to 3 years old. Benefits of reading to babies/ young children include the promoting of listening skills, increase in the number of words babies hear, it develops attention span and memory, helps babies learn uncommon words and to understand the meanings of words and much more.
Acorns Foundation would like to thank Netherland Romanian Chamber of Commerce and all its members who supported this project on behalf of the children and staff in Cercelus Creche!
Corporate responsibility reporting is now a standard business practice worldwide, says KPMG
Reporting on corporate responsibility (CR) is now a standard business practice worldwide, undertaken by almost three quarters (71 percent) of analysed companies, according to the 8th KPMG Survey of Corporate Responsibility Reporting published today (9 December 2013).
The 2013 edition of the KPMG survey marks 20 years since the first survey was published in 1993. This year the research is more extensive than ever, covering the top 100 companies by revenue across 41 countries, a total of 4100 companies. The 1993 survey looked at companies in just 10 countries.Based on KPMG’s survey the number of companies reporting on CR has increased by 7 percentage points since 2011. Among the world’s largest 250 companies (the G250), the CR reporting rate is 93 percent.
“Companies should no longer ask whether or not they should publish a CR report. That debate is over,” said Yvo de Boer, Global Chairman Climate Change & Sustainability Services. “The important questions now are ‘what should we report?’ and ‘how should we report it?’. The challenge for companies is to use the CR reporting process to identify the most important environmental and social issues for their business and stakeholders. They can then bring those issues into the heart of corporate strategy to manage risks, unlock opportunities and build long-term value.”
Over half (51 percent) of the companies worldwide that report on CR now include CR information in their annual financial reports. This is a striking rise since 2011 (when only 20 percent did so) and 2008 (when only 9 percent did).
The KPMG Survey of Corporate Responsibility Reporting 2013 also explored the quality of CR reporting among the G250 and found:
- A cluster of 10 companies stood out for the quality of their CR reporting; they were: A.P. Møller Mærsk (Transport - Denmark), BMW (Automotive – Germany), Cisco Systems (Communications & media – USA), Ford Motor Company (Automotive – USA), Hewlett-Packard (Electronics & computers – USA), ING Group (Finance, insurance, & securities – Netherlands), Nestlé (Food & beverages – Switzerland), Repsol (Oil & gas – Spain), Siemens (Electronics & computers – Germany), and Total (Oil & gas – France).
- Only one in five G250 companies (22 percent) reports a clear link between CR performance and executive or employee remuneration.
- Only one in five G250 companies (23 percent) publishes a well-balanced report that discusses CR challenges and setbacks as well as successes.
- European companies achieve the highest average quality score for their CR reports at 71 out of 100. This compares with average scores of 54 for companies in the Americas and 50 in Asia Pacific.
- Most G250 CR reports (87 percent) identify at least some social and environmental changes (or “megaforces”) that are affecting the business. Climate change, material resource scarcity, and energy and fuel are the most commonly mentioned
- More companies see opportunities than see risks related to CR matters: 81 percent of reporting companies identify business risks from social and environmental factors, whereas slightly more (87 percent) identify commercial opportunities.
The research for Romania’s top 100 companies by revenue (N100) show an increase in the total number of N100 Romanian companies reporting on sustainability, either in a local report or by providing data for a CR Group report, from 53 in 2011 (based on 2009-2010 data) to 69 in the latest survey. The main reason for this progress is that an increasing number of Romanian companies are providing data for their CR Group reports.
The sources of information for the research conducted in Romania consisted of publicly available information on companies’ most recent Corporate Responsibility (CR)/sustainability reports, CR/sustainability information in the company’s annual report as well as the website information/interactive online CR report, covering either 2012 or 2011.
The results of the survey also point to a difference between multinational companies operating in Romania, which are more active in CR reporting and 100% Romanian capital companies, which are less interested in voluntary disclosure of non-financial information. According to the latest results, 33 local companies report information on their sustainability performance, either as a separate CR report or as a section of the annual report.
GRI Guidelines are the most commonly used sustainability reporting framework throughout the world and are recognized as a best practice barometer in this area. However, the reporting principles of these Guidelines are taken into consideration by only 3 out of the 33 companies.
Serban Toader, Senior Partner at KPMG in Romania concludes: “Romanian companies that are reluctant about sustainability reporting may have to reconsider their position as these reports are now mandatory in 10 of the world’s most significant economies and it is expected they will become mandatory in all EU countries. Under current proposals at European level, sustainability reporting would become a legal requirement for large companies (whose average number of employees exceeds 500, or which have either a balance sheet total exceeding 20 million Euros or a net turnover exceeding 40 million Euros). An increasing number of stock exchanges also have listings requirements that include disclosure on companies’ environmental impact and governance.”
“The lack of external assurance for public sustainability reports, or of a third party opinion related to the non-financial information disclosed, clearly indicate that Romanian companies are not yet aware of how such verification can help increase stakeholders’ confidence in the published information,” added Geta Diaconu, Director, Sustainability Services, KPMG Romania.
About the Survey
This KPMG Survey of Corporate Responsibility Reporting 2013 is published primarily for business leaders, company boards as well as CR and sustainability professionals. It provides a snapshot of current global trends in CR reporting with benchmarks, guidance and insights to help companies worldwide determine their own approaches to CR reporting and to assess and improve the quality of their reports. This year the survey, which has been regularly published since 1993, covers a record 41 countries and 4100 companies across 15 industry sectors.The growth in the number of countries and companies covered in this survey is just one indication of how CR reporting has evolved into a mainstream business practice over the last two decades.
KPMG: For the first time, over a million euros in VAT recovered by a leasing company for non-recover...
On 22 November 2013, KPMG in Romania’s specialist fiscal litigation team, coordinated by Nicu Done, Senior Tax Partner, obtained the first court decision in Romania in favour of a taxpayer claiming a VAT refund, which cannot be appealed by the tax authorities. The judgement was made by the High Court of Cassation and Justice in relation to the application of VAT on non-recovered goods by a leasing company following the cancellation of the leasing contracts. The High Court rejected as unfounded the appeal made by ANAF against the judgement made at the end of last year in favour of the taxpayer by the Cluj Court of Appeal, which had cancelled ANAF’s decision to impose tax (following an appeal against ANAF’s decision by the taxpayer).
Tax rules introduced in 2011 included in the category of goods on which VAT is payable those which are missing from stock or which have not been recovered, which formed part of a leasing contract cancelled by the leasing company as a result of non-payment of installments, requiring the leasing company to pay VAT on the value of the unpaid bills, even though the leasing company had not recovered possession of the goods which had formed the object of the cancelled leasing contract. Tax audit procedures carried out under these new rules were modified by norms to the Fiscal Code, with the result that substantial additional tax obligations amounting to tens of millions of euros were imposed on leasing companies.
The KPMG team, which supported the leasing company in obtaining a favourable decision in the High Court, which cannot be appealed against, successfully argued not only that the that ANAF’s decision to impose tax had been illegal, based on various principles of Romanian law, but also that the relevant tax provisions were non-compliant with the European VAT Directive, as it has been interpreted in the jurisprudence of the European Court of Justice. These provisions have been eliminated by the Romanian authorities from tax legislation, with effect from the 2013 fiscal year, to avoid the initiation of infringement proceedings by the European Commission. A similar case also forms the object of a preliminary request for advice formulated by a Romanian court (Bucharest Court of Appeal), registered with the European Court of Justice on 2 August 2013, C- 438/13.
Zeelandia Romania si ROMPAN - o colaborare de succes in cadrul Targului International Indagra 2013
“Produsele prezentate in cadrul expozitiei organizate au fost de cea mai buna calitate, fiind apreciate de vizitatori, demonstrand astfel ca standardele industriei de morarit si panificatie din Romania sunt foarte inalte.”
In perioada 31 octombrie-3 noiembrie, Zeelandia Romania si-a prezentat, in cadrul celei de-a 18-a editie a Targului international de produse si echipamente in domeniul agriculturii, horticulturii, viticulturii si zootehniei - Indagra 2013, unele dintre cele mai reprezentative produse pentru panificatie. Participarea este rezultatul colaborarii fructuoase dintre compania noastra si Patronatul Roman din Industria de Morarit, Panificatie si Produse Fainoase (ROMPAN). Initiativa ROMPAN de a organiza un Salon dedicat industriei de profil a fost una dintre cele mai inspirate, in situatia in care a oferit oportunitatea tuturor producatorilor din domeniul panificatiei, si nu numai, sa fie informati cu privire la cele mai noi, eficiente si performante produse si echipamente din aceasta ramura economica. Reprezentantii Rompan au afirmat ca “Produsele prezentate in cadrul expozitiei organizate au fost de cea mai buna calitate, fiind apreciate de vizitatori, demonstrand astfel ca standardele industriei de morarit si panificatie din Romania sunt foarte inalte.”
Printre produsele care au fost scoase la rampa de Zeelandia Romania in cadrul Salonului se numara:
- Gama de maiele pentru panificatie, personalizate in functie de nevoile clientilor, Amore Melange, Amore Arome si Amore Original;
- Amelioratorii de panificatie Master Pano si Amelioratorul Modular;
- Amelioratorul de panificatie universal, concentrate, pulverulent Gamma Innov8;
- Amelioratorul general pulverulent pentru panificatie, Gamma Expert;
- Amelioratorul de panificatie cu rol de crestere a volumului, Gamma Super V;
Zeelandia Romania ramane recunoscatoare pentru colaborarea cu ROMPAN in cadrul Targului International - Indagra 2013.
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Indirect Tax Newsflash
Additional benefits in relation to VAT paid on imports
The Minister of Public Finance has approved Order no. 1891/2013 to amend Order of the Ministry of Public Finance No. 500/2007 to approve the Norms with respect to the procedure of granting the import VAT deferment payment certificate and issuing the guarantee for imports of goods (“the Order”), published in the Official Journal of Romania No. 724, dated 25 November 2013.
Through these amendments, the import VAT payment deferment is extended to other taxable persons, i.e. those registered for VAT purposes and which are holders of authorized economic operator or local customs clearance procedure authorizations.
Authorized economic operator (AEO) is an economic operator established in the EU, authorized by the customs authorities further to a specific audit. An AEO is considered a reliable partner of the customs authorities and benefits from some customs simplifications.
The on-site customs clearance procedure is a simplified procedure which allows the placing of goods under a customs regime at the premises of the legal entity or individual concerned or in other places designed and approved by the customs authorities.
The amendments brought by this Order correlate the benefits granted by customs legislation with those related to VAT and, thus, eliminate the burden of VAT payment to the customs authorities, therefore improving cash flow with respect to the import operations performed by the taxable persons listed below.
Foreign investment at the end of September 2013
According to the data published by the National Office of the Trade Registry, at the end of September 2013, there were 190,901 companies registered in Romania with foreign participation in social capital, total foreign investment amounting to EUR 36.44 billion. The top of the first five foreign investors was led by the Netherlands, with 4,397 companies registered and total invested capital of EUR 7.022 billion, followed by Austria with 6,626 companies and a total investment of EUR 4.7 billion, Germany with 20,016 companies and a total investment of EUR 4.17 billion, Cyprus with 5,350 registered companies and a total investment reaching EUR 2.43 billion, and France with 7,518 registered companies and a total investment of EUR 2.08 billion
Gust și diversitate la Târgul de Pâine, Cozonac și Chec
Zeelandia România, partener cu tradiție la evenimentele de profil organizate de Carrefour.Pentru două săptămâni, în perioada 9 – 22 mai, Zeelandia România și-a făcut simțită prezența la Târgul de Pâine, Cozonac și Chec, organizat de Carrefour România. Evenimentul s-a aflat la cea de-a 3-a sa ediție și a avut ca obiectiv principal oferirea unor tipuri de pâine deosebite și a unor specialități dulci de referință pentru români. Astfel, doritorii au avut ocazia să cumpere de la standurile special amenajate, atât la bucată, cât și la kg, o serie de produse printre care s-au numărat și:
- Pâinea Smarandei Albă
- Pâinea Smarandei Cu Secară
- Rustikorn - cunoscută și sub numele de Pâine Rustică Neagră
- Pâinea la metru cu secară și cartofi
- Cozonacul uriaș cu nucă și cacao
Orașele în care au fost prezente pâinile și celelalte delicii realizate de către specialiștii brutari și patiseri de la Carrefour cu ajutorul produselor Zeelandia sunt București, în cadrul Carrefour Orhideea și în cele două hypermarketuri Carrefour din Iași, Felicia și Era.
VAT exemption in customs
On 25 November the import VAT deferment (ie exemption) in customs has been published in the Official Monitor. This has been a major goal in the efforts of the NRCC, the EGP and the RBSGA, besides many other organisations. The official documnet can be found at Publications.
Aegon stakes on 5,000-client potential for its new business in Romania
The Dutch insurance company Aegon stakes on 4,500-5,000 clients with financial means for its new business launched in Romania, the unitlink Aegon Privilege insurance, which is sold by the new division Aegon Private Investments. The insurance that has an investment component is meant for clients who can pay at least 5,000 euros (or 7,000 dollars) in one single instalment all along the insured period. “We expect a few hundred contracts in the time to come and a value ranging between 5 and 6 million euros,” Sinziana Maioreanu, CEO Aegon Romania, told a news conference.
The main investment instrument distributed by this new division is Aegon Privilege, a solution giving clients access to investment funds such as Franklin Templeton, Fidelity, Black Rock, Allianz, JP Morgan, Schroder or Credit Suisse. “Through the agency of Aegon Privilege the investment in international funds is more accessible than when directly buying fund units. The product offers clients full control of the investment decision, online access, in real time, to the information connected to the contract and its evolution as well as total transparency of the costs associated to this product. Aegon Privilege includes the benefits of a life insurance and a taxation structure more advantageous than in the case of the classic investment solutions,” said Sinziana Maioreanu. The new division has been working in Romania for two months and already manages a portfolio including more than 50 contracts. Aegon Romania registered an 80 percent increase in the first six months of 2013 from the similar time span of 2012.
Asculta!...Zeelandia foloseste tehnologia acustica pentru a afla cat de crocanta este coaja
In dorinta de a raspunde mereu cu brio cerintelor clientilor si implicit ale consumatorilor, compania investeste atat in dezvoltarea produselor, cat si in cercetare, preocuparea pentru o continua dezvoltare fiind unul dintre crezurile Zelandia.
In Zeelandia preocuparea pentru a oferi solutii la nevoile clientilor sai a atins un nou nivel de performanta. Se stie ca in ultimii ani consumatorul final a devenit tot mai sofisticat si informat privind alegerile sale. Daca in trecut produsele de panificatie proaspete erau mai degraba un deziderat, acum de cele mai multe ori prospetimea face diferenta pe piata. Venind in intampinarea producatorilor de panificatie, Zeelandia a elaborat o noua metoda de verificare a prospetimii produselor de panificatie, metoda ce determina cat de crocanta este coaja panii.
In acest scop, Zeelandia a utilizat un microfon conectat la un aparat de analizare a texturii, in ideea de a masura intensitatea sunetelor produse de coaja painii si a altor produse de panificatie la comprimarea acestora. Testul are rolul de a ajuta compania sa compare ingrediente, retete si procese tehnologice cu scopul de a determina cele mai bune optiuni pentru a obtine coaja perfecta.
“Datorita noii metode, care implica imbinarea fortei si a sunetului, putem avea un termen de comparatie pentru ceea ce inseamna o paine cu o coaja sugestiva pentru ideea de prospetime. In acelasi timp, putem spune ca acest test ne ofera indicii si pentru durata de mentinere a prospetimii produselor”, afirma Hennie Kuzee, Manager de Cercetare si Dezvoltare la Zeelandia (R&D).
Tot Hennie Kuzee a mai spus ca inainte de dezvoltarea acestei metode testarea se facea organoleptic, sub stricta monitorizare si implicare a unor experti specializati in analizarea sunetelor generate de paine in momentul comprimarii.
Pentru a citi continuarea articolului, accesati pagina Zeelandia foloseste tehnologia acustica pentru a vedea cat de crocanta este coaja.
Why is it important to stipulate in a contract the clause regarding the moment when the ownership ri...
Vacarescu Law Firm supports the European Commission, as a collaborator of Lexidale International Pol...
Vacarescu Law Firm was selected by the international consulting firm Lexidale and collaborated on the project requested by the European Commission – “STUDY ON THE APPLICATION OF THE CROSS-BORDER MERGERS DIRECTIVE”.
Eurofast Global takes part in China International Exhibition and Forum for Outbound Private Investm...
Eurofast Global prides itself in always being there when change happens, this is just one of the reasons we took part in the “China International Exhibition and Forum for Outbound Private Investments” event held between 27-29 September 2013 at the Beijing International Convention Centre in Beijing, China.
China is the world’s fastest growing economy, a world in itself by its magnitude and customs and a market where everything is moving at an astounding pace, but, not surprisingly, Eurofast can keep up. We pride ourselves on being exactly where we are needed and China is the place to be.
CIEOPI is the first exhibition in China focusing on private outbound investments in China, it is a cross-point between private capital and overseas projects.
We were proudly represented by two capable professionals, Ms Zoe Kokoni, Director of Citizenship, Residence permits and Real Estate and Mrs Iulia Lascau, Managing Partner who presented the most important business opportunities in the countries we operate (Cyprus, Romania, Greece, Bulagria, Montenegro etc).
Approval of Draft Decision for amending the GD 274/2013 on de minimis aid
The Draft Decision for amending the GD 274/2013 on de minimis aid for investments for small and medium enterprises (SMEs) has been approved.
Some of the major changes proposed made by normative act are:
- de minimis aid is up to 100,000 Euro (representing 90% of the eligible project costs) and the company undertakes to create between 1 and 5 new work places;
- eligible applicants are only companies at least 1 year old;
- the CAEN code for which funding is requested must be registered in the applicant’s activity for at least 3 months prior to submitting the project;
- "first come, first served" criterion is no longer used and project evaluation will be done by an on-line application, based on clear and transparent criteria (company size - micro, small, medium, sector of activity, number of new work placed created, location of project implementation);
- additional points will be awarded to companies that will employ one 2013 university graduate;
- operational profit and net profit at 31.12.2013 will be used as selection criteria between projects with similar score;
- micro-enterprises active in the production/ manufacturing and based in rural area will be favored
The opening of the financing line will be announced 5 days ahead and SMEs will have 10 days to submit the projects online.
For more details contact us as email@example.com.
VAPRO can assist you in developing a successful project!
How Do I Incorporate an Individual Company?
Have you thought about incorporating a company? You don’t know which type of company to choose?
Have you considered incorporating an individual company?
Do you want to find out how you can incorporate a company – individual company?
Are you wondering what incorporating an individual company implies?
Eco-tickets – the Romanian state aid for electric car buyers
One of the measures taken by the Romanian Government in order to improve and preserve the quality of the environment is granting electric car buyers a non- reimbursable funding, in the form of “Eco-tickets”. This measure was initially mentioned by the Government Emergency Ordinance no. 9/2013 on the environment tax. Subsequently, the Ministry of the Environment drafted a “Funding Guide” in order to implement the Promotion Program for Low-emission Vehicles, including Eco- tickets, which has come into force this month.
Applications for the Program shall take place between the 14th and the 25th of October 2013, at the National Environment Authority. The total number of eco- tickets granted under the Program is limited, given that the initial budget of the Promotion Program for Low-emission Vehicles is of just ROL 1,200,00 ...!
Hereinafter you may find information on how to benefit from Eco-tickets.
WHAT DOES AN ECO-TICKET SUPPOSE?
The Eco-ticket allows a natural person to buy a new low-emission vehicle at a lower price. The amount of an Eco-ticket is ROL 12,000. A person buying several electric vehicles may receive several Eco-tickets.
Eco-tickets may be cumulated with the Recycling Premium, granted to owners selling old vehicles for scrapping and dismantling. Thus, the buyer may also benefit from a price discount of ROL 18,500 (ROL 12,000 + ROL 6,500) when buying an electric vehicle.
HOW DOES THE ECO-TICKET WORK?
Three parties are involved in the Eco-ticket granting and use procedures:
a. The National Environment Authority;
b. The seller = electric vehicles producers, importers or dealers;
The seller (referred to by the law as the producer) must submit a file with the National Environment Authority in order to be registered in the Program. After being accepted by the Authority as an authorised producer, it shall conclude a non-reimbursable funding agreement with the Authority. Under this agreement, the producer may deduct the Eco-tickets granted in accordance with the sale- purchase agreements concluded with the buyer of electric vehicles. Please note that the value of the Eco-ticket shall be deducted by the vehicle producer from the final price (VAT included), the difference being charged to the buyer. Eco- tickets deduction is performed by bank transfer and shall be approved by the Environment Authority only at the authorised dealer’s request, accompanied by the corresponding supporting documents.
c. The buyer = legal or natural persons, administrative units and public institutions;
The buyer must submit a file with the National Environment Authority in order to be accepted as an Eco-tickets beneficiary. After being accepted, the buyer must choose an authorized manufacturer in order to buy the electric vehicle. Subsequently, it shall draft an application for the allocation of an Eco-ticked with the environment authority. The sale of the vehicle may be concluded with the manufacturer after the Eco-ticket is allocated.
**** We hope that this information was useful to you!
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT LAW OFFICE
The criminal record: simplification of the issuing procedure
As a reminder, the criminal record is the electronic database of the Romanian Interior Ministry in order to keep track of and identify the natural or legal persons who have been sentenced for committing offences. This database is operated through the ROCRIS electronic system.
ROCRIS is connected to the ECRIS system (European Criminal Records Information System) – regrouping the criminal records databases of all the EU Member States; consequently, the Romanian authorities can obtain information on all offences committed and appearing in the criminal record in another Member State.
The criminal record certificate is an informative excerpt from this database and it can be presented to the public or private authorities, in certain cases provided by the law.
As of last month, ROCRIS is functioning at its full capacity, allowing the obtaining of a criminal record certificate for all the natural or legal persons, Romanian or foreign, from any police station in Romania, regardless of the applicant’s (holder or agent) domicile.
Until present, the criminal record certificate could only be requested from the police stations located in the area where the applicant had his domicile or birthplace.
WHEN REQUESTING A CRIMINAL RECORD CERTIFICATE?
The criminal record excerpt, usually referred to in Romania as a “criminal record certificate”, is necessary in different cases, when the probity of the person must be verified, such as:
a. For the registration of the directors and shareholders of Romanian companies in the Register of Intra-Community Operators (the ROI)
Following the changes which have occurred, the criminal record certificate of the directors and shareholder of foreign limited liability companies (natural or legal persons) may be obtained in Romania from any police station – personally / by the legal representative or by an agent, irrespective of the applicant’s domicile/headquarters.
However, it must be noted that, as an exception, the criminal record certificate obtained for the registration in the ROI comprises not only definitive sentences, but also any public action taken against the respective person (data recorded temporarily).
b. For employment in public positions;
c. For persons holding a manager/management responsible position;
d. For persons accompanying a minor abroad (if the minor is not accompanied by his parents).
THE ISSUANCE AND VALIDITY PERIOD OF THE CRIMINAL RECORD
In theory, the criminal record certificate may be obtained on the same day or within 3 days at most from the submission of the application. In case the criminal record comprises special mentions, this issuance period is longer. The certificate is valid for 6 months starting from the date of its issuance.
**** We hope this information was useful to you!
Dana GRUIA DUFAUT
ATTORNEY-AT-LAW (PARIS & BUCHAREST)
GRUIA DUFAUT Law Office
New updates in social law
Each year, the Ministry of Labour, Family and Social Protection establishes the value of the meal and nursery vouchers granted by employers to their employees. By two orders published in the Official Journal of October 25, the labour ministry decided the increase the value of these tickets starting from November 1, 2013. Several days later, Law no. 52/2011 governing the activity of daily workers was amended by Law no. 277/2013.
Hereinafter you can find a presentation of the three legal modifications in social law.
As a reminder, meal vouchers are granted by the employer to its employees for each day worked. These vouchers may be used by the employee either to pay for his meal, or to buy food commodities or in cafeterias or fast foods.
Starting from November, the value of a meal voucher shall be of ROL 9.35, compared to the previous value of ROL 9.
Employed parents waiving their parental leave for raising their children aged 2 at most or 3 for disabled children may receive nursery vouchers from their employer in order to pay for nursery services. Starting from November 1, 2013, the value of a nursery voucher shall be of ROL 430, compared to the previous value of ROL 400. We wish to remind you that the amounts granted under the form of nursery vouchers may be deducted by the employer when paying its tax on profits.
CHANGES CONCERNING DAILY WORKERS
A daily worker is a non-qualified worker lending its labour force to a beneficiary on a daily basis.
According to the last modification, a “beneficiary” may not only be a legal person, but also a natural person, a natural authorized person or the owner of a family business to whom the worker provides occasional work. The beneficiary must keep a register of the workers and submit excerpts from this register to the Labour Agency on a monthly basis.
The daily work duration cannot exceed 12 hours, respectively 6 hours for minors. Even if the parties agree to a reduced number of hours, the payment received by the worker shall be the equivalent of 8 hours of work. A daily worker may provide services to a beneficiary for a maximum of 90 days per year.
Another change regards the possibility of minors aged between 15 and 16 to provide occasional non-qualified activities with their parents’/legal representatives’ consent. Previously, this was forbidden.
The worker must be paid at the end of each day and the beneficiary is obliged to withhold the 16% tax at the source. Nevertheless, the parties may agree in writing upon the payment of the remuneration at the end of the paid activity. The daily remuneration must not be under ROL 2/hour or exceed ROL 10/hour.
Daily workers perform works in sectors such as agriculture, hunting, fishing forestry, merchandise handing, but also for the show industry or for cinema and audio-visual productions.
**** We hope that this information was useful to you!
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT LAW OFFICE
Minimis aids for investments carried out in industrial parks
In order to grant companies the possibility of receiving facilities for their investments in industrial parks, the Ministry of Regional Development and Public Administration issued last month the Order no. 2.980/2013. The Order addresses the approval of the conditions for granting support measures for investments in industrial parks and it provides a minimis aid scheme and a State aid scheme dedicated to this sector. Today’s article focuses on minimis aids.
MINIMIS AIDS AND INDUSTRIAL PARKS
Minimis aids are a small-sized state aid, free from notification obligations towards the European Commission, granted for a period of three years, up to a general threshold of 200.000 Euros.
Industrial parks are sites intended for industrial use, operated by companies in order to carry out their economic activity, in the built or let buildings or premises located on the park’s lands. Thus, the companies become residents. Law no. 186/2013 on the establishment and operation of industrial parks provides the conditions under which companies intending to create industrial parks or become residents of such parks may benefit from tax facilities.
WHAT DOES THE MINIMIS AID CONSIST OF?
The minimis aid for industrial parks is granted by the corresponding Ministry or by the local administration (depending to the aid type) in several ways:
a. Tax exemption if the destination of the land intended to become an industrial park is changed or if the land is withdrawn from the agricultural use;
b. Tax exemption for the lands part of the industrial park;
c. Tax exemption on the buildings in the industrial park’s infrastructure;
d. Exemption from paying taxes to the administrative units’ budgets for the planning reports and construction permits or for the demolition of buildings in the park’s infrastructure.
The minimis aid scheme may be granted until June 30, 2014 and it can be extended until 2020. The maximum budget for these aids is 8 million Euros and only 125 companies may benefit from it.
WHO MAY BENEFIT FROM MINIMIS AIDS AND UNDER WHAT CONDITIONS?
Minimis aids may be granted to companies establishing themselves in the industrial park, but also to companies with a founder status and in charge of the park’s management. Nevertheless, some activity sectors, expressly mentioned in the abovementioned ordinance, are excluded. In order to benefit from such aid, companies must fulfil the following conditions: (i) to carry out an activity in an industrial park, (ii) such activity must have an economic nature; (iii) to submit an investment plan with eligible costs; (iv) not to have economic difficulties, (v) not to have benefitted from another minimis aid during the last 3 fiscal years.
PROCEDURE TO BE FOLLOWED IN ORDER TO RECEIVE A MINIMIS AID
In order to benefit from minimis aids, the interested company must obtain the agreement of the local administration in this respect. Thus, it can submit a file comprising the documents indicated in Order no. 2980/2013 to the City Hall in the area where the industrial park is located. After having analysed the submitted documents, the City Hall shall issue the agreement in principle, mentioning the facilities granted to the company. The agreement in principle and the title of industrial park shall accompany the annual tax declaration for the establishment of taxes on lands and buildings.
**** We hope that this information was useful to you!
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT LAW OFFICE
Insolvency proceedings: new rules
The Government Emergency Ordinance no. 91/2013 on business safeguarding and insolvency proceedings, also referred to as the “Code of Insolvency Proceedings” is intended to enter into force at the end of this week. This legal text aims at corroborating the provisions on insolvency proceedings by incorporating laws relating to arrangements with creditors, bankruptcy of credit institutions and the provisions of private international law on insolvency proceedings. Since then; following the adoption of the Ordinance, the former law on insolvency proceedings no. 85/2006, the law on arrangement with creditors no. 381/2009 and the Emergency Ordinance on the bankruptcy of credit institutions no. 10/2004 shall be repealed.
THE MAIN NEW PROVISIONS
- In order to petition for opening of an insolvency proceeding, the debtor must be in a state of cessation of payments, i.e. no longer able to honour its due liabilities from its available assets. The debtor is presumed as being in a state of cessation of payments if it has not paid its debt in 60 days. This deadline is shorter than the one provided by the former law 85/2006, which mounted to 90 days. The creditor intending to request the opening of the insolvency proceedings must hold against its debtor a certain and liquid receivable, due for more than 60 days.
- As regards the judicial reorganisation procedure, its duration has been reduced from 3 years to 1 year, which brings into question the real possibility of the debtor to reorganise its activity in a very short period of time.
Nevertheless, the debtor in financial difficulty (not in cessation of payment, but having a high level of long-term debt distress) may resort to an arrangement with creditors, i.e. an agreement concluded with creditors holding at least two thirds of the accepted receivables, under which the debtor proposes a recovery and debt payment plan and the creditor support its recovery efforts.
The debtor’s recovery, as well as the debt payment deadline cannot exceed 24 months. In order for the arrangement with creditors to be enforceable against the creditors who have not signed the agreement, the arrangement must be registered, i.e. approved by the creditors holding 90% of the total value of the receivables. During the period when the registered arrangement with creditors is applied, insolvency proceedings cannot be open against the debtor.
- In relation to law 85/2006, under which the official receiver/trustee in bankruptcy could lodge actions for the annulment of fraudulent acts/operations concluded by the debtor during the 3 years prior to the opening of the insolvency proceedings, at present this period was reduced to 2 years. Gratuitous acts or the debtor’s acts aiming at impeaching the forced execution of its assets by the creditors shall be annulled in order to obtain their restitution.
- The new provisions state that the debtor’s request to be subject to insolvency proceedings shall only be accepted if the value of its debt exceeds 40,000 lei; the same amount is also applicable to the creditor’s request. As regards the receivable of the debtor’s employees, the amount has not changed: six average gross salaries / employee.
- As regards the receivables arising during the insolvency proceedings, the creditors may proceed to their forced execution. This is a new provision in relation with the ancient law and does not comply with the principles of insolvency proceedings, such as the consensual and egalitarian character of the proceedings. This provision may give rise to a conflict between the previous creditors and the creditors whose receivables have arisen during the insolvency proceedings, but also between creditors of the same rank.
- Moreover, the Ordinance has incorporated the provisions of the former law 637/2002 on private international law relations applicable to insolvency proceedings. Thus, the Ordinance sets out the rules applicable to cross-border insolvency proceedings. Within these proceedings, a foreign creditor may request the opening of an insolvency proceeding against the debtor headquartered in Romania and it may also take part to an already open procedure. If the debtor’s registered office is not in Romania but the debtor owns immovable assets in its patrimony, the opening of the proceedings may be requested to the court in the area where the assets are located. In insolvency proceedings, foreign creditors have the same rights as Romanian creditors.
THE APPLICATION OF THE NEW LEGAL TEXTS TO PENDING PROCEEDINGS
Article 348 of the Ordinance provides that it is also applicable to insolvency proceedings pending at the moment of its entry into force, except the provisions referring to company groups. This provision is contrary to article 15 of the Constitution, on the non-retroactivity of the law. It has also been contested by the business environment.
LAST MINUTE UPDATE
The People’s Advocate (the Romanian Ombudsman) invoked the lack of constitutionality of two articles of the Ordinance 91/2013 on business safeguarding and insolvency proceedings. According to a press release, on October 29, 2013, the Constitutional Court has admitted the unconstitutionality exception rose by the
People’s Advocate and ruled the “unconstitutionality of the Ordinance 91/2013”. Thus, it is not yet clear whether the decision ruled the unconstitutionality of the entire Ordinance or only that of the two articles attacked by the People’s Advocate. This information shall be clear only after the publishing of the decision in the Official Journal, in 2-3 weeks. According to the Romanian Constitution, the unconstitutional provisions cease to produce their effects 45 days after the publication of the Court’s ruling provided that during this period the Government does not align the unconstitutional provisions with the Constitution. During this period, the unconstitutional provisions are automatically suspended. However, it seems that the entire Ordinance was ruled unconstitutional. This is a topic worth following.
Dana GRUIA DUFAUT
ATTORNEY AT LAW (PARIS & BUCHAREST)
GRUIA DUFAUT Law Office
4 Essential Questions You Have to Ask Yourself When You Sign an Agreement With a Company in Judicial...
1. How can I increase my chances of cashing the price of the agreement?
2. Can a company in judicial reorganization issue promissory notes?
3. Can we force execute a company in judicial reorganization?
4. Who is the person who has the legal capacity to negotiate and sign the agreement on behalf of the company in judicial reorganization?
For more please access the following link:
Plan an effective payroll with MyStaff Schedule. Case Study
When it comes to payroll, one of the most difficult stages in the process is to keep an accurate work time record of each employee. Things are simple when the working hours are similar - 8 hours a day, Monday to Friday, with a pay scale determined in each labor contract.
But when your business involves working in shifts with different hours and specific rules, a frequent overtime and many exceptions in a normal timesheet, you need a professional solution in order to achieve a fair payroll.
Find out how MyStaff Schedule can help you in your business, request an analysis for timesheet and payroll.
How to manage a payroll with more timesheet exceptions than rules
Case study: for a client organization with employees work in shifts, working and non-working days depending on the job profile and specific timesheet rules and transfer, Smartree created a new instrument for payroll planning: MyStaff Schedule.
Thus, for a total of approximately 450 employees, the payroll process became more efficient by creating rule exceptions and reducing costs associated with improperly distributed work to a smaller or bigger number of employees than necessary..
In this particular case, after analyzing the specific business needs, several profiles have been created each one associated with a set of specific rules: Normal, Front Office, Manufacture and so on.
- The Normal profile includes TESA employees with normal working hours (8 hours a day). Saturdays, Sundays and holidays are set by default as non-working days and hours worked in these days are regarded as overtime.
- The Front Office Profile includes staff from Front Office and Call Center for whom the work schedule is 8 hours a day, but with the opportunity to work on Saturdays and Sundays and to take rest days on normal working days. For hours worked on Saturdays and Sundays there is a bonus.
- The Manufacture Profile includes employees working in shifts of 12 hours from Monday to Sunday. There is a bonus for night hours and non-working day activity.
After this stage, the program planning and the calculation of the indicators of processes timesheets and thus the payroll could be resolved quickly by creating rules for all months.
MyStaff Schedule manages the planning process and helps communicate the working plan to employees.
Specific results after using MyStaff Schedule
MyStaff Schedule led to efficiency in:
a) Automatic validations
- 100% elimination of manual validations
- 100% elimination of human error in complex validations
b) 45% less time spent planning
c) 40% improvement of the whole planning process by analyzing existing flow
d) Automatic rating of timesheet indicators
- 100% elimination of human interpretation
- 100% equity concerning employees with similar regime and accuracy concerning different types of employees (e.g. different amounts of bonus)
- a centralized timesheets system – in a 60% ratio
- a set of automatic indicators issued by MyStaff Schedule: night hours, bonus for weekend hours, meal tickets, guard shifts, average number for solidarity fund, different categories of overtime - 100% efficiency
e) Real-time secure data access of different staff categories (managers, planners, HR specialists etc.) - 55% efficiency
f) 100% elimination of traditional, paper planning time by replacing it with an electronic one
Find out how MyStaff Schedule can help you in your business, request an analysis for timesheet and payroll.
Why choose MyStaff Schedule
- It helps you set-up the planning context for personnel allocation: legal and religious days-off; timesheets profile, employees’ preferences.
- It sets-up necessary activities based on work and / or rules in the Labor Code or Technological needs (shifts).
- It allows you to change schedules in real time unplanned drag & drop changes with real time identification of impact; impact evaluation for unplanned events on the schedule; rescheduling proposals.
- It helps you communicate schedules by printing of large schedules; posting employee schedule in Employee Self Service.
For more details please visit www.smartree.com.
Contact us: firstname.lastname@example.org
Phone: +40 21.301.90.90
Dutch players tap into Romania’s nearshoring potential
With a dwindling talent pool back home, Dutch companies are looking for nearshoring opportunities in Romania to keep their competitive edge.
Nearshoring, which is outsourcing at shorter distances, first emerged in Romania due to Western companies’ wish to cut costs. However, as local firms started to do more complex work, Romania’s competitive advantage has moved more towards the skilled labor market.
Although wages have gone up, the country is still trailing its Western peers in terms of pay. According to the Netherlands-Romanian Chamber of Commerce (NRCC), local net wages were the equivalent of 25 to 75 percent of those in the Netherlands last year, depending on industry and staff qualification. However, the level of labor taxes and social security contributions are roughly the same as in the Netherlands. “The initial idea was basically to be cheaper than the people in the Netherlands. As time went by, we found out that we are not necessarily cheaper, but we have good quality programmers in our company who are hard to find in the Netherlands,” Bert Steenbeeke, owner of Dutch company BT&T Software Development, told Business Review.
His Bucharest-based company is doing nearshoring for small Dutch firms active in the software business. It currently employs ten people and the headcount is expected to go up in the near future.
“There are fewer people doing computer science in the Netherlands than there are here. We are facing a big shortage of engineers in the Netherlands in the future,” he added. Nearshoring has proven to be effective in the IT business, but smaller foreign companies have acknowledged that high fliers are targeted by big companies, willing to pay big bucks for their skills.
“There are lots of businesses all over the world trying to find software engineers in Romania and sometimes they just try to get them by money,” said Steenbeeke. He says there are now fewer IT specialists leaving the country. According to Huub Drabbe, economic counselor at the Netherlands Embassy in Bucharest, nearshoring can also be used in manufacturing. For instance, Dutch shipbuilder Damen took over a shipyard in Galati in 1999. The company is currently building a wide range of products in the Danube-based town, from offshore to naval vessels, tugs and workboats.
Local nearshoring guide launched
In early October, the NRCC launched a guide and white book on nearshoring to Romania. Chamber representatives said this could represent one of the avenues to attracting fresh foreign direct investments to the country.
The guide outlines the main steps for starting and running nearshoring operations in Romania, while also focusing on the specifics of the country’s labor and education sectors.
For instance, Dutch investors should know that the Romanian work environment is more hierarchical than in the Netherlands and that questioning the decisions of superiors is uncommon.
by Ovidiu Posirca - Business Review
ING Life Insurance estimates 3% growth in gross written premiums in 2013
ING Life Insurance company estimates a 3 percent growth in its gross written premiums in 2013, up to 560 million lei (about 125.84 million euros), general manager of ING Life Insurance, Marius Popescu, told a press conference on August 20. The volume of gross written premiums in January-June 2013 amounted to 274.2 million lei, up 1.7 percent against the same period in 2012 (269.6 million lei). Estimated gross profit of ING Life Insurance in the first half of 2013 amounted to 5.63 million lei, compared with 6.85 million lei in the same period last year. The newly concluded insurance policies portfolio increased 4 percent in the first half of 2013 compared with the same period last year, while the gross average premiums for contracts sold in this period stood at 1.600 lei, up 2 percent compared with the figure recorded in H1 2012. Over 73 percent of total written premiums in 2013 were traditional polices, with the weight of this type of contracts in the total portfolio standing at 46 percent in mid-year, compared with 46 percent in the same period last year. The solvency margin of ING Life Insurance is 1.65 compared with the minimum required by law of 1 percent and the liquidity ratio is 4.8 compared with the minimum required ratio of - 1.
Find out the procedure for trademark registration
1. What is a trademark and what is its role?
2. What do I have to do before I register my trademark?
3. What does it mean to have a trademark?
4. What is the legal procedure for trademark registration?
5. What happens if you abusively use another trademark? Example (...)
For more please access the following link:
IT specialists in Cluj Napoca to develop software for mind-controlled computers
The experts with the Romanian-Dutch IT company Yonder, based in Cluj Napoca, intend to develop a range of applications by which users will be able to control their computers with the power of their minds, informs Finantistii.ro. "The Cluj-based company Yonder is starting the development of applications and interfaces controlled by users via brain waves, under its strategy of continuous innovation. Currently, keyboards and mouses are already making room to the interfaces controlled by touch or remote gestures. In the future, users will just have to think a certain order, with the development of control systems by the mind’s power," explained Ramon Zanders, the Director of Yonder. The first experimental program aims to develop an application that will choose the music depending on the frame of mind of the person listening to it. Zanders says that the company will focus on devices such as "Emotive," which allow the creation of interfaces controlled by brain waves, or "The Leap," which is based on touch-free control by gestures, writes Finantistii.ro. "We are working on two experimental applications that will pave the way for programs that will be used widely for solutions which as many people as possible will benefit from," Ramon Zanders was quoted as saying by the website.
INDAGRA 2013, 30 October - 3 November, Bucharest, Romania
The largest international agricultural fair in Romania - www.indagra.ro
Besides promoting the participation of Dutch companies in these fairs, this year the Netherlands Embassy will organise the seminar: Dutch Solutions and Innovation for the Fruit Tree Growing Sector. The event will take place on November 1, 2013, from 15:00 at the Conference Center of Romexpo (www.romexpo.ro). More information will be available soon on www.hollandtrade.ro.
Promoting a brand under a false identity. The effects on traders and consumers
Are you the owner of a brand and you have realized that it is used to generate online traffic to other people?
Were you put in a situation where you wanted to buy online a product and the advertisement misled you? Have you clicked on a link and have been redirected to a completely different site?
Have you encountered unfair trade practices online, misleading links or advertisements? (...)
What are the differences between a trademark, a logo and the name of a company
Maximum Efficiency in Recruitment with MyStaff Recruitment
Smartree Romania launches MyStaff Recruitment, an innovative software module in recruitment and selection. MyStaff Recruitment maximizes outcomes for all those involved and optimizes the cost and time of each recruitment project.
The major innovation consists in involving the manager of the department with job vacancies through the web portal of MyStaff Recruitment, but also the existence of a decision making flow and the real time tracking of the entire recruitment process.
The information and decision support tools are keys to an effective HR management and MyStaff suite facilitates the achivment of this objective. Because of the advantages of MyStaff Recruitment, HR managers can focus on other activities that add value to the company.
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The new module MyStaff Recruitment is easy to use, both integrated into the MyStaff platform, but also independent of the other modules.
Flexible to specific needs, MyStaff Recruitment was designed to:
- Manage vacancies, requirements for each particular job and job applications.
- Administrate the sources of candidates: ads in the media, internal recruitment, recruitment agencies.
- Manage the selection of candidates - tracking job applications, training recruitment teams depending on the project, communicating with candidates, managing interviews and tests.
- Filter candidates – criteria as skills, profile, source.
- Monitor performance indicators of recruitment: time-to-hire, cost-to-hire.
For more details please visit: www.smartree.com
Contact us: email@example.com
De Minimis Aid for SMEs - changes and new launch
The authorities have published a new proposal for the recent DE MINIMIS aid for SMEs. As it looks now, the launching will happen very soon – after the consultation period of 30 days will be finalized.
The main characteristics of the proposed de minimis aid for investments are:
- Maximum amount granted is 100,000 Euro, for a period of two fiscal years;
- The grant awarded is maximum 90% of the total eligible costs - 10% represents the beneficiary’s contribution;
- Projects are no longer evaluated on a "first come first served" basis, but based on quality criteria and the score will be calculated automatically after the online registration of the project;
- The project score is given based on 4 criteria: activity field, company size, number of new jobs created and location of project implementation. As an example, microenterprises based in rural areas, operating in production field, that create five new work places, will receive the maximum score – 100 points.
Projects can be registered online on AIPPIMM’s website for a period of 10 days after the project session`s opening. The evaluation will be done within 60 days after submitting the entire project documentation.
For more details contact us as firstname.lastname@example.org.
VAPRO can assist you in developing a successful project!
TPA Horwath Romania – Romania’s best accounting firm in 2013
TPA Horwath Romania – Romania’s best accounting firm in 2013
TPA Horwath Romania has for the third year running been awarded the “Grand Prize for 2013”, the official acknowledgement granted by the CECCAR, the body of licensed and expert accountants in Romania, for the best accounting practice in Romania.
The award was announced during the Forum for Small and Medium Practices, which took place in Bucharest on 21 September on the occasion of the National Day of the Romanian Accountant. The assessment criteria for nominated companies included turnover, number of employees and number of clients, as well as the complexity and quality of service.
The Forum’s main topic of discussion this year was “The reputation and credibility of accounting as a profession in Romania”, which involved a complex analysis of the role of small and medium practices and CECCAR members in the sustainable development of the business environment.
TPA Horwath is one of the leading accounting, tax advisory and auditing services companies in Austria and Central and South Eastern Europe. Headquartered in Austria, the TPA Horwath Group is active on 11 European markets: Albania, Austria, Bulgaria, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia and Slovenia.
TPA Horwath entered the Romanian market in 2007 and currently boasts a team of 6 partners and 85 accountants, auditors, tax and legal advisors, all working from its offices in Bucharest.
Operational leasing travels the road to maturity - but how hard will the journey be?
Operational since March 2011, ASLO has 12 members and controls 90 percent of the operational leasing market. According to the association′s data, in the first six months of the year, about 3,938 new cars were registered through operating leases, representing 20 of the total registrations of passenger cars and light commercial vehicles. "We can expect this percentage to remain at the same level next year," Bogdan Apahidean, the managing director of LeasePlan Romania, tells The Diplomat-Bucharest.
Over the years, the market has become highly competitive due to the presence of international and specialized full-service operational leasing providers. While the first signs of financial leasing emerged in 1997, operational leasing started to develop in 2005 as an opportunity for companies to outsource their fleet management in order to reduce costs. Aside from the first half of this year, when it stagnated, the market has grown continuously in recent times, by around 10-14 percent annually, despite the nearly 80 percent fall in new passenger vehicle sales between 2007 and 2012.
"On an emerging market such as Romania′s, the operational leasing concept had enormous growth potential," says LeasePlan′s Apahidean. "While between 2007 and 2012 we witnessed an almost 80 percent decrease in both the financial leasing and automotive markets, the operational leasing segment increased from several hundred units in 2006 to more than 41,500 cars in mid-2013."
Active on the local market since 2007, LeasePlan had more than 7,500 units at the end of the first half of this year, a 10.3 percent increase on the figure reported in the same period of last year. The objective, however, is to exceed 8,000 vehicles by the end of 2013. "Moreover, we expect to achieve 9,000 units next year," adds Apahidean.
Operational leasing benefits
Companies â€“ not only big corporations, but also small and medium enterprises â€“ are becoming more and more interested in operational leasing products, according to Bas Hoekstra, the CEO of Sixt New Kopel Operational Leasing, as an alternative to financial leasing or credit. The main advantages of operational leasing, Hoekstra highlights, are that it offers customers both cost optimization and easy-to-budget fixed monthly fees, as well as efficiency and flexibility, through integrated solutions for fleet management. Furthermore, operational leasing allows the customer to concentrate on its core business. "This slight increase in operational leasing, given the drop of new car registrations this year, can be seen as a success for this product, which has convinced more and more business owners to enquire about it," Hoekstra tells The Diplomat-Bucharest. "The customers are more active, they are getting almost all operational leasing companies to compete, so we are constantly looking to improve the services we offer, develop new products and be more proactive towards our customers."
Interestingly, the range of products and services provided by operational leasing players on the Romanian market is similar to the selection that would be found on mature markets with a tradition in leasing services. "We offer the same products and services, limited of course by local legal constraints, in all Porsche Bank countries and are able to service our customers at an international level, via local Porsche Bank offices," says Christoph Binder, the CEO of Porsche Finance Group [when the interview was conducted], which registered a 17 percent increase in the number of new contracts last year on 2011. "This is a major advantage for companies operating in multiple European countries, and we are there for our customers with solutions," he tells The Diplomat-Bucharest.
Arval Romania, which is specialized in operational leasing and corporate vehicle management, increased its car fleet to around 5,200 units last year, compared to 4,000 vehicles registered in October 2011. Christian Busch, the general manager of the company, takes the same view as Binder, estimating that 60-65 percent of Arval′s portfolio is made up of international clients. "Our clients can have a global framework agreement. This helps them a lot in terms of organization, time saving and business structure," Busch tells The Diplomat-Bucharest. "Moreover, another advantage of this product is that we cover the risk for the future. If you sign an operational leasing contract, there are no surprises. If your car breaks down or you have an accident, it′s all covered by your contract."
Despite its steady double-digit growth through to 2012, the Romanian operational leasing market has faced many challenges this year, coming from both the economic and legal contexts, which have impeded the proper development of the system. While in 2012, the operational leasing market increased by 11 percent compared to 2011, to reach 41,500 units, this year the market has evolved at a very slow pace, growing by only 1 percent in the first six months compared to 2012 H1. This took the total market at the end of first semester of 2013 to 41,514 vehicles. "The difficult economic context which we′re all experiencing and the legal environment affecting operational leasing players in the first quarter of 2013 were the main factors behind this slow evolution," says Shane Dowling, the general manager of ALD Automotive Romania, which at the end of 2012 had 7,111 units on its books. "The ALD Automotive fleet has also seen a slow but steady growth rhythm, as we registered a nearly 6 percent increase in our fleet size at the end of July this year compared to same period last year."
According to the top local players, many factors lie behind the market stagnation. In the first half of the year, the local economy contracted slightly, which led to a decrease in consumption that influenced the business. "This was the main reason why many companies continued to reduce costs, and this was also evident in their approach to their car park," says Porsche′s Binder. LeasePlan′s Apahidean adds, "The main reason for the much slower development of the operational leasing market is definitely the drop in consumption affecting our clients. Because of this, they cannot develop their fleets. They prefer to make their old cars go further instead of buying new ones."
Looking more closely, the market has come to a standstill this year also as a result of the so-called de-fleeting process, where firms are forced to scale back their business due to the economic environment, thereby reducing their car fleet and affecting local players. "There is a trend across the whole of Europe, not only in Romania, known as de-fleeting. If you have decreasing results in whatever business you are in, you cannot increase spending on your fleet. Both international and local companies are adjusting their fleets to their current needs," says Arval′s Busch.
According to data provided by the National Bank of Romania (BNR) in mid September, foreign direct investment (FDI) fell to just EUR 946 million in the first seven months of this year, down 28.9 percent on the same period last year. ASLO′s Ivan sees this FDI decrease as another cause of the slow growth of the sector. While he was optimistic about the market′s prospects at the beginning of 2013 (in response to political statements regarding the unblocking of European funds), the fortunes of the operational leasing market took an unexpected turn. "I also believe the segment of companies that are aware of fleet management outsourcing has shrunk. We need to approach new clients and convince them to use our product. And this is a difficult thing to do," he adds. Daniel Ivan also runs his own operational leasing business as executive director of Fleet Management Service (FMS). Active since 2006, the company posted a EUR 3.3 million turnover last year, 22 percent up on 2011. FMS′s fleet numbers more than 2,600 vehicles, and Ivan is planning to take the number to more than 3,000 by the end of the year. "Our growth has never been spectacular, but always stable and thorough. We hope to reach a 20 percent increase by the end of the year," he adds.
Law changes trouble players
While the poor economic climate underpinning the current operational leasing scene can be found not only in Romania, but across the whole of Europe, the instability of the legal framework is a specifically local phenomenon. Several legal changes stipulated in the new Fiscal Code have had a major impact on the profitability of leasing companies and have deterred significant investment this year. The main legal factors causing the slow growth are the limits to the amortization deduction and the environmental tax, which has been changed 11 times in the last three years.
The new limits to the amortization deduction were brought in at the start of February at short notice and lasted around four months. Even so, the regulation had a significant impact on local business. "Overnight, without any public debate, the deductibility was not amortized for cars worth more than EUR 25,000. For LeasePlan′s business, this would have meant a loss of hundreds of thousands of euros," says Apahidean. Dowling adds, "At ALD Automotive, about 30 percent of the vehicles in our fleet were directly impacted by this limitation, with the amortization deductibility being above the RON 1,500 level, which like the eco-tax had a significant impact on our results for the first five months of this year."
Eventually, ASLO members took steps to earn operational leasing companies an exemption from this law. The regulation regarding the limits to deductibility came into effect on 1 February and the favorable resolution came in May. "In the current situation, following the latest changes brought in on May 31, 2013, we may assume that a commercial society is more tempted to purchase a car through an operational lease for the fully deductible monthly rate and not through another financing solution," Aurelia Leoveanu, general manager of Renault Credit International, tells The Diplomat-Bucharest. "However I believe that the economic and financial difficulties are still real and decisions are difficult to make." Leoveanu adds that the company posted an EUR 11 million turnover last year.
But while the legal changes surrounding deductibility were reversed for operational leasing companies in the second quarter of 2013, the environmental tax continues to have a negative impact and is longer lasting. The tax affects the final sale price of used vehicles returned after the termination of an operational leasing contract, and the residual values that were predicted at the start of contract.
"The environmental tax on used cars really offered benefits to clients, who escaped indirect losses, but reduced operating leasing companies′ income," says Effie Valsamaki, the general manager of DiRent Romania, which has been present on the local market since 2006. "It even caused the loss of some operating leasing contracts. In the future, such tax modifications should normally be borne by clients based on the principle of a more accurate financial estimation of the operating leasing offers." For ALD Automotive the impact is even greater because the company was the first to start operations locally in 2005, according to Dowling. As a result ALD Automotive has more vehicles in its fleet reaching the end of their contract period and which are being put up for sale on the auction platform. With more vehicles liable for the eco-tax, there is a greater impact on the firm′s business results and financial performance. Of the total fleet, the GM estimates that up to 2,000 vehicles will be liable for the eco-tax at the end of their contract.
"This eco-tax has caused a far worse impact on the market: it has a direct cost impact on the new vehicles contracted under operational leasing and on the used vehicles sold at the end of their leasing term. Technically, both our corporate clients using vehicle fleets and the final purchasers of our used cars will bear the cost of this new tax," says Dowling. "The direct impact on our business is based on the fact that the residual values of the operational leasing vehicles were predicted three-four years ago; therefore thanks to the tax we′ll now make less from our used car sales, resulting in a loss on our residual values. Dealers will consider the tax when buying our used vehicles by actually bidding less, according to the value of the tax. We have noticed, for instance, that the decrease in the online offers received on ALD Carmarket is 75 percent of the tax value for that particular vehicle." However, from the point of view of Arval′s Busch, the environmental tax had a huge impact only in the first months following its appearance. Afterwards, the market recovered, by adapting slowly to the changes. "The pollution tax was a big disadvantage for the business for a certain period. As a legal constraint, it was applicable everywhere in the country and had to be respected. After a certain period, the market got used to it and went back to normal," he says. "It was the same scenario when VAT increased. For two, three months, consumption was slower or even decreased. Afterwards, it recovered. It was the same with the pollution tax."
Main goal: stability
The operational leasing system tends to follow the economic development of the country. Therefore, regardless of the legislative turmoil affecting the sector, operational leasing in Romania is heading in the right direction, experts say. Although after eight years it has reached more than 41,500 units, the growth potential is up to 200,000 cars, according to ASLO′s Ivan. "The local operational leasing market could reach 200,000 cars. However, we don′t know when this will happen."
Operational leasing in Romania is still an emerging concept compared to Western European countries, where this form of fleet management represents 30-75 percent of the corporate segment. But, regionally, Romania is ahead of some others. "Unlike Romania, other Eastern European countries â€“ such as Ukraine â€“ do not yet have operational leasing, or have had it only for a few years. Moreover, in India and Brazil, the service started later than in Romania," says DiRent′s Valsamaki.
Nevertheless, in order to develop further and to catch up with mature markets, the Romanian operational leasing system requires a stable environment. One of the major concerns should be the improvement of the legal framework. "The recent changes to the Fiscal Code limit the few remaining benefits operational leasing still enjoys. Such changes being made at short notice and with a significant impact on profitability only create feelings of uncertainty and inconsistency among prospective clients, who will certainly think twice before choosing operational leasing," says Porsche′s Binder.
To avoid deterring potential clients, Valsamaki thinks that the state should consider and analyze the effects of each law in advance as well as following exceptions depending on the domain and service. "Besides that, more information on the market, more professional management, increased transparency regarding corporate vehicle-related costs and a desire for financially effective business operations could also boost operational leasing services on the Romanian market," she says.
Sixt New Kopel′s Hoekstra continues, "Another thing that could help the market is the enforcement of the taxation of second-hand car dealers, which mostly operate in a gray area, except for the few companies belonging to well-known automotive groups like ours (AAA New Kopel). This measure could stabilize the second-hand market, which is a very important factor for operational leasing companies as they have to sell their cars on when the contract is finished." Looking to the future of the Romanian operational leasing market, experts either refrain from making predictions, or are cautiously optimistic about its evolution. However, the sector′s outlook seems promising judging by the positive European trend. "The operational leasing market in Romania will definitely grow, because we are all making efforts to present the advantages of the product and convince more and more companies to take that step towards this outsourcing," says Ivan. Adds Porsche′s Binder, "We are hoping the operational leasing market will grow in the second half of the year, as the local economy is showing signs of revival. It is difficult to make predictions in times such as these, but the operational leasing market is definitely one for the future."
What documents do you need to start a limited liability company?
The limited liability company (L.T.D.) is the most common form of organization of commercial activity in Romania. For starters I will briefly introduce to you some of its features (...)
For more access:
Romania to add 617MW in wind this year, says report
Some 617MW of fresh wind capacities that are in different building stages will be installed this year, according to a new report on the wind energy and other renewable sources launched by professional services firm TPA Horwath and law firm Schoenherr si Asociatii.
The local wind installed capacities have soared by 94 percent to 1905MW last year, overshooting official estimates. The wind sector has attracted the largest share of investments in Romania, mainly due to foreign utilities in the likes of Austrian Verbund or Czech CEZ that build large farms locally.
Romania was the leading emerging country for new wind capacities, putting 923MW online. It came fifth across Europe, behind Germany (2415), the UK (1897), Italy (1973) ad Spain (1122MW).
However, the future of the sector remains uncertain following the governments decisions to reschedule the payment of some green certificates. Starting July1, wind projects will be granted one certificate and a second one will be recovered starting 2018.
Claudia Stanciu, partner at TPA Horwath, says renewable investors are still satisfied with the profits generated in Romania, despite the legal changes.
"The legal changes are justified. Although there is a lack of legal predictability, investors are generally satisfied, and remain profitable," said Stanciu. She added that Romania is still attractive due to the incentives and the availability of grid connections.
The wind developers that will not have the resources to continue operations may sell the wind projects to players with a bigger financial clout, says Cristina Petrescu, partner TPA Horwath.
The price of green certificates, which account for 55 percent of the revenues of a wind farm, will go down as more renewable capacities go online, reckons Petrescu. At present, one green certificate is trading around EUR 37.
Given the current development of capacities, Romania will cover around 8 percent of its gross energy consumption from wind sources this year. Under the EU 2020 targets, the renewable output should reach 24 percent of the total electricity consumption.
The solar sector has been worst hit as authorities have rescheduled the issuance of two certificates. Authorities have also blocked the solar projects settled on agricultural land from receiving certificates.
Simona Chirica, partner at Schoenherr si Asociatii, says only a few solar investors still have their land in the agricultural circuit. She commented it’s a ‘mission impossible’ to get pull the land off circuit by July 1.
The RPIA (Romanian Photovoltaic Industry Association) states that close to 400 hectares of agricultural land are currently covered by solar panels. Around 177MW of incentivized solar installations were operational by April, according to grid operator Transelectrica.
Fermierii vor primi o subvenție de 139 euro la hectar / Farmers will receive a subsidy of 139 Euros...
Fermierii vor primi o subvenție de 139 euro la hectar
Autor: Ilie Stoian
Agricultorii ar putea primi 139 de euro/hectar în anul 2013, potrivit unor calcule preliminare, a declarat ministrul Agriculturii şi Dezvoltării Rurale, Daniel Constantin.
“În anul 2013, calculele preliminare – pentru că suntem în perioadă de control – arată că plata europeană, SAPS, va fi undeva la 139 de euro pe hectar şi sigur că pachetul de la bugetul de stat îl vom negocia chiar în aceste zile cu Ministerul de Finanţe”, a spus Daniel Constantin, într-o conferinţă de specialitate.
Daniel Constantin a precizat că este important să avem un pachet apropiat de maximum, atât la plata pe suprafaţă, cât şi la plata pe cap de animal, şi că încearcă să explice Ministerului de Finanţe că în 2014 se poate aloca 100% din cât s-a alocat în 2013, iar anul viitor 75% din cât s-a alocat în 2013.
Plata pe suprafaţă este finanţată din Fondul European de Garantare Agricolă (FEGA), din Fondul European Agricol pentru Dezvoltare Rurală (FEADR) şi de la bugetul de stat, prin bugetul Ministerului Agriculturii şi Dezvoltării Rurale (MADR).
Pachetul financiar prevăzut pentru pentru plăţile pe suprafaţă se ridică la 1,264 miliarde de euro, în 2013, în creştere faţă de anul trecut cu peste 21%, când a totalizat 1,043 miliarde de euro.(Agerpres)
Farmers will receive a subsidy of 139 Euros per hectare
Author: Ilie Stoian
Farmers could reeive 139 euro/hectare in 2013 according to a preliminary calculations, the MInister of Agriculture and Rural Development Daniel Constantin said.
"In 2013, preliminary calculations - because we are in a controlling perios - shows that European payment, SAPS, will be somewhere around 139 euro per hectare and for sure the state budget package we will negociate during these days with the Ministry of Finance", Daniel Constantin said, in a specialized conference.
Daniel Constantin said it is important to have a package close to the maximum, both for the area payment and also for the pay per head and that tries to explain to the Ministry of Finance that in 2014 it can be allocated 100% of what was allocated in 2013 and in the next year 75% that what was allocated in 2013.
The area payment is financed by the European Agricultural Guarantee Fund (FEGA) through European Agricultural Fund for Rural Development (FEADR) and to the state budget through the budget of Ministry of Agriculture and Rural Development (MADR).
The financial package for area payments is amounted to 1.264 billion euros in 2013, increasing towards last year with over 21%, when it totaled 1.043 billion euro. (Agerpres)
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NEW financing line for developing social economy
The Managing Authority for the EU program SOPHRD has announced a new financing line for developing social economy. Please note that the maximum value of the projects is up to 500,000 euros (for grant projects) or up to 4 million euros (for strategic projects) and the financed grant value is up to 98%.
The financed costs are for implementing the following type of activities:
- Awareness campaigns and promotion for the integration of vulnerable people inside social economy structures
- Assessment and counseling dedicated to vulnerable people
- Training activities, including entrepreneurship and soft skills training, dedicated to both vulnerable people and those involved in the system (social workers, specialists, employees and volunteers in NGOs, etc.)
- Developing social enterprises and providing further assistance in conducting their business.
The target group should include individuals from one or more of the following categories :
- People belonging to vulnerable groups (e.g. people with disabilities, women at risk, family members providing for their families with more than two dependent children, including single-parent families, people affected by the disease such as HIV, cancer, etc.);
- Social workers, personal assistants / community / foster family mediators / health, carers, staff of residential institutions and Specialists and trainers involved in the social economy;
- Managers of social economy structures.
Among the eligible applicants: NGOs, authorized training providers, career guidance and counseling providers, social services providers.
VAPRO can assist you in developing a successful project!
Daniel Ivan, FMS: Pentru prima data flota de masini pe benzina a depasit-o pe cea diesel Citeste ma...
Anul acesta, pentru prima data numarul de masini livrate de Fleet Management Services (FMS) cu motoare pe benzina l-a depasit pe cel al masinilor echipate cu motoare diesel, intrucat clientii si-au diminuat considerabil numarul de kilometri parcursi, a declarat Daniel Ivan, directorul executiv al FMS.
Wall-Street.ro: Cum s-a vazut impactul crizei economice in cerintele clientilor (alegerea masinilor – pret, model)?
Ca urmare a crizei economice, am observat tendinta de a se fixa mai clar bugetele pe fiecare segment (economic / compact / mediu / executiv) si de a se merge pe modele cu mai putine optionale. Clientii sunt mai atenti cu nivelul costurilor de exploatare si s-au diminuat deciziile de achizitie emotionale.
Wall-Street.ro: Cum arata flota FMS, ce modele predomina?
Daniel Ivan: In ceea ce priveste flota FMS inchiriata prin leasing operational, marcile cel mai bine reprezentate sunt Hyundai, Dacia, Renault, VW, Skoda, Opel si Ford. In ultimul an am observat o crestere a cererii pentru autoturisme echipate cu motoare pe benzina, datorata printre altele si reevaluarii (in sensul micsorarii) de catre clienti a rulajelor anuale. Drept urmare, numarul masinilor livrate de FMS in 2013 cu motoare pe benzina l-a depasit, pentru prima data, pe cel al masinilor echipate cu motoare diesel.
Wall-Street.ro: Cum evolueaza interesu pentru serviciul FMS de inchiriere auto pe termen mediu?
Daniel Ivan: Inchirierile pe termen mediu au evoluat pozitiv in principal datorita flexibilitatii pe care acest produs il ofera. Serviciul a fost lansat de FMS in urma cu sapte ani insa in ultimii 2-3 ani a cunoscut o crestere accentuata. De asemenea, asistam la o crestere continua a interesului din partea companiilor fata de serviciul nostru de leasing operational / inchiriere pe termen lung. Fiind o solutie care nu implica blocarea de capital, dar ofera atat dinamism si mobilitate prin simplificarea relatiei cu service-urile auto, asigurarea de back-up car si inlocuirea rapida a masinilor uzate cu altele noi, cat si flexibilitate la stabilirea duratei contractului si a costurilor, inchirierea pe termen lung este alegerea logica pentru companiile care vizeaza utilizarea optima a propriului cash-flow si folosirea cu eficienta maxima a resurselor manageriale si umane, concentrandu-se pe activitatile de baza.
Wall-Street.ro: Cum a evoluat piata de leasing operational in primele 7 luni? La ce numar de masini se ridica?
Daniel Ivan: Piata de leasing operational si management flote auto in Romania a stagnat in prima perioada a anului, comparativ cu sfarsitul lui 2012. Contextul economic dificil, modificarile legislative referitoare la limitarea deductibilitatii amortizarii pentru autovehicule si introducerea taxei de mediu, dar si lipsa fiscalizarii in sfera de TVA si impozit pe profit a activitatilor de import si vanzare de masini second hand efectuate de catre persoane fizice cu scop comercial, au afectat puternic vanzarile de autovehicule noi in Romania, in prima jumatate a acestui an.
In aceasta perioada, FMS a inregistrat o crestere cu circa 25% a cifrei de afaceri realizata pe segmentul leasing-ului operational.
Wall-Street.ro: Ce cota de piata are FMS si cate masini are in administrare?
Daniel Ivan: In piata de leasing operational si management flote auto FMS detine circa 6,5% din piata.
Trade mission ‘Technology’ to Romania
From 16 till 18 October, 2013 Rocon and the Dutch Embassy in Romania organize a business trip combined with a visit to the International Technical Fair in Bucharest (TIB). The mission, directed in the technical sector, offers entrepreneurs a great opportunity to make new business contacts, intensify existing trade relations and boost the company’s export. Participation is open to all Dutch companies. A group package will be offered including accommodation, interpreters and local transportation. Given the great interest and success of the previous trade missions and the maximum number of participants, we advise you to register on time. Registration takes place exclusively through the websites of Rocon and the Dutch Embassy in Romania. To sign up or receive more info use the following link:
The Netherlands-Romanian Chamber of Commerce backs the free movement of labour across EU Member Stat...
The Netherlands-Romanian Chamber of Commerce (NRCC) and the Dutch Romanian Network back the free movement of labour across all EU Member States and support the 1st of January 2014 deadline to grant Romanian workers full access to the Dutch labour market as specified in Romania’s accession treaty to the EU.
“In our view there is no reason why Romanian and Bulgarian workers should not be given full access to the European Union labour market, in all Member States, as of the 1st of January 2014 as previously agreed at the moment of the accession of the two countries to the EU. If we look at the countries that already granted Romanians and Bulgarians full access to their labour market we see that there was no massive influx of migrant workers and that new arrivals were able to integrate into the labour market according to the law of supply and demand” stated Peter de Ruiter, the acting President of the NRCC.
“In the same time, there should be one level playing field for all EU citizens working in The Netherlands. As such, all artificial structures and wage difference between Dutch and migrant workers should be addressed”, added Peter de Ruiter.
“We feel that it is in the long term interests of The Netherlands to uphold the EU fundamental principle of freedom of movement of labour. One cannot sacrifice these principles that are the foundation of EU prosperity in times of economic difficulties. Only by moving forward can the EU and The Netherlands overcome this on-going economic crisis”, concluded Robin van Rozen, who will take over as President of the NRCC as of the 1st of October 2013.
NRCC is a member of “Coalitia pentru Dezvoltarea Romaniei”
The Netherlands Romanian Chamber of Commerce joined Coalitia pentru Dezvoltarea Romaniei together with the most important business organizations such as the Foreign Investors Council (FIC), Asociatia Oamenilor de Afaceri din Romania (AOAR), Fundatia Romanian Business Leaders (RBL), the bilateral Chambers of Commerce and the Embassies.
The Coalitia has been constructed in the belief that it is more effective for Ministers and the Government to consult with a broad-based business and employer forum. This, in turn, should bring coherence in the message from businesses and employers to Government.
It is the belief of the Coalitia that a process of systemic dialogue with Government will enhance predictability for businesses, improve the economic climate in Romania and increase investment.
The Coalitia will establish representative Task Forces to enable individual Ministers to consult on matters specific to their areas of responsibility
The initial set of Task Forces will be established in the areas of: Public Finance; Energy; SMEs; Infrastructure; EU Funds; Agriculture and Education.
Two “Meta” Task Forces will also be established to deal with “cross-Government” issues. The initial “Meta” Task Forces will be on the matter of Investment Climate and Capital Markets.
Prime Minister Victor Ponta appoints Otilia Sava, founding partner of Law firm Ionescu si Sava, as S...
Otilia Sava, founding partner of Ionescu si Sava and former attorney, has been appointed Secretary of State with the Ministry of National Defence for the relationship with the Parliament, public information and improvement of life quality of the personnel.
The appointment decision has been signed by the Prime Minister Victor Ponta on Monday, September 2nd, 2013.
Otilia Sava joined the Bucharest Bar in 1998 and until recently, led the family law, media and IP practice of the Law firm Ionescu si Sava.
CEC Bank lanseaza Creditul APIA – Zootehnie / CEC Bank launches the APIA credit - zootechnics
CEC Bank lanseaza Creditul APIA – Zootehnie
Autor: Ilie Stoian
CEC Bank lanseaza Creditul APIA – Zootehnie (ovine/caprine), implementat in parteneriat cu Agentia de Plati si Interventie pentru Agricultura (APIA) si Fondul de Garantare a Creditului Rural (FGCR), in baza conventiilor privind finantarea capitalului de lucru pentru desfasurarea activitatilor curente de catre beneficiarii platilor nationale directe complementare in sectorul zootehnic la speciile ovine si caprine 2013.
Clientii eligibili care pot accesa aceste tipuri de credite sunt beneficiarii platilor nationale directe complementare (PNDC) in sector zootehnic la speciile ovine/caprine, persoane fizice sau juridice, care detin, cresc si exploateaza animale de productie, identificate si inregistrate in sistemul national. Prima pe cap de animal este in cuantum de 30 lei.
Creditele se acorda in lei, iar valoarea creditului poate fi intre 85%-90% din suma cuvenita, prevazuta in Adeverinta eliberata de APIA, in functie de performanta financiara a clientului. Costurile practicate de CEC Bank pentru finantarea acestor clienti sunt urmatoarele:
-dobanda cuprinsa intre 8,33% si 8,83%, in functie de clasa de performanta financiara in care se incadreaza clientul;
-comisionul de gestiune de 0,35% si comision de acordare de 0,50%, aplicate la valoarea creditului acordat si percepute de banca la acordarea creditului.
Rambursarea creditelor se va face integral la data primirii sumelor cuvenite beneficiarilor in cadrul PNDC in sectorul zootehnic ovine/caprine, dar nu mai tarziu de data stabilita in Conventia incheiata de banca cu APIA si FGCR sau in actele aditionale ulterioare.
“Prin lansarea acestui produs de creditare, CEC Bank continua sa se implice in sustinerea sectorului agricol prin acordarea finantarilor in conditii atractive, unui numar impresionant de IMM si persoane fizice”, a declarat domnul Radu Gratian Ghetea, Presedintele CEC Bank.
Clientii CEC Bank beneficiaza de consultanta gratuita in ceea ce priveste pregatirea documentatiei de accesare a creditului. Informatii suplimentare despre acest produs de creditare pot fi obtinute si pe site-ul de Internet al bancii, www.cec.ro, in cadrul sectiunii dedicate finantarilor din domeniul agriculturii. (Directia Marketing si Comunicare CEC Bank)
CEC Bank launches the APIA credit - zootechnics
Author: Ilie Stoian
CEC Bank launches the APIA credit - Livestock (sheep/goats), implemented in partnership with Agency for Payments and Intervention in Agriculture (APIA) and Rural Credit Guarantee Fund (FGCR) under the conventions on the financing the working capital for current activities by beneficiaries of complementary national direct payments in the livestock sector for sheep and goats in 2013..
Clientii eligibili care pot accesa aceste tipuri de crediteEligible clients who can access these types of loans are the beneficiaries of complementary national direct payments (PNDC) in the livestock sector for sheep/goats, individuals or legal entities that hold breeds and exploit production animas, identified and registered in the national system. The bonus for livestock head is in amount of 30 lei.
Creditele se acorda in lei, iar valoarea creditului poate fi intre 85%-90% din suma cuvenita, prevazuta in Adeverinta eliberata de APIA, in functie de performanta financiara a clientului.Loans are granted in lei and the loan can be between 85%-90% of the amount due as provided in the certificate issued by APIA depending on the financial performance of the client. Costs charged by CEC Bank for funding these clients are as follows:
-dobanda cuprinsa intre 8,33% si 8,83%, in functie de clasa de performanta financiara in care se incadreaza clientul;- interest rate between 8.33% and 8.83% depending on the class of financial performance in which the client fits;
-comisionul de gestiune de 0,35% si comision de acordare de 0,50%, aplicate la valoarea creditului acordat si percepute de banca la acordarea creditului.- 0.35% management fee and award fee of 0.50% applied to the amount of the loan granted by the bank and charged when the loan in granted.
Rambursarea creditelor se va face integral la data primirii sumelor cuvenite beneficiarilor in cadrul PNDC in sectorul zootehnic ovine/caprine, dar nu mai tarziu de data stabilita in Conventia incheiata de banca cu APIA si FGCR sau in actele aditionale ulterioare.Loan reimbursement will be made in full amount at the time of receiving due amounts by the beneficiaries under the PNDC in livestock sector sheep/goat, but no later than the date set in the Agreement concluded by the bank with APIA and FGCR or in subsequent additional data.
“ Prin lansarea acestui produs de creditare, CEC Bank continua sa se implice in sustinerea sectorului agricol prin acordarea finantarilor in conditii atractive, unui numar impresionant de IMM si persoane fizice ”, a declarat domnul Radu Gratian Ghetea, Presedintele CEC Bank."By launching this loan product, CEC Bank continues to be involved in supporting the agricultural sector by providing financial support with attractive conditions, to a large number of SMEs and individuals", said Mr. Radu Graitean Ghetea, President of CEC Bank.
Clientii CEC Bank beneficiaza de consultanta gratuita in ceea ce priveste pregatirea documentatiei de accesare a creditului.CEC Bank customers will benefit of free consultancy regarding the preparation of documentation for accessing the loan. Additional information about this loan product can be obtained on the internet website of the bank, www.cec.ro, in the section dedicated to financing in agriculture sector. (Department of Marketing and Communication CEC Bank)
Sprijin special pentru fermele de lapte / Special support for dairy farms
Sprijin special pentru fermele de lapte
Autor: Ilie Stoian
Fermele de vaci de lapte ar putea fi sprijinite financiar în perioada 2014-2020 printr-un subprogram special, potrivit ministrului Agriculturii, Daniel Constantin, care consideră că acest sector ar putea fi o provocare pentru România.
“În anul 2015, vor fi eliminate cotele de lapte, iar provocarea pe care o are România ar putea fi chiar pe acest sector, pentru că va fi o competiţie foarte puternică pe importurile de lapte. Şi în momentul de faţă, foarte multe întreprinderi din Transilvania, din păcate, importă lapte din Ungaria pentru că nu există suficient lapte care să corespundă calitativ. Şi cred că ar trebui să intervenim cu un subprogram pe acest sector”, a declarat marţi, la Tulcea, ministrul Agriculturii, Daniel Constantin.
Acesta a mai spus că deocamdată nu s-a stabilit cum se va aloca acest sprijin, dar a menţionat că în toamna acestui an vor fi prezentate toate schemele de finanţare pentru 2014-2020 în acord cu Politica Agricolă Comună.
În acelaşi context, el şi-a exprimat deschiderea pentru orice observaţie adusă pentru modificarea legii privind camerele agricole, astfel încât aceasta să devină funcţională şi să fie o structură a fermierilor şi a menţionat că este posibil ca anul viitor actualele direcţii agricole judeţene să treacă în subordinea consiliilor judeţene, cu excepţia direcţiilor de control care vor rămâne ale Ministerului Agriculturii. (Agerpres)
Un amplu sondaj pe tema sprijinului fermelor de lapte veți putea citi în curând, în următoarea ediție a revistei Fabrica de Lapte.
Special support for dairy farms
Author: Ilie Stoian
Fermele de vaci de lapte ar putea fi sprijinite financiar în perioada 2014-2020 printr-un subprogram special, potrivit ministrului Agriculturii, Daniel Constantin, care consideră că acest sector ar putea fi o provocare pentru România.Dairy farms could receive financial support in 2014-2020 through a special subprogram, according to the Minister of Agriculture, Daniel Constantin, who considers that this sector could be a challenge for Romania.
“În anul 2015, vor fi eliminate cotele de lapte, iar provocarea pe care o are România ar putea fi chiar pe acest sector, pentru că va fi o competiţie foarte puternică pe importurile de lapte."In 2015, milk quotas will be eliminated and the challenge that Romania has could be right on this sector because it will be a very strong competition on the milk imports. And at present time many enterprises from Transylvania, unfortunately, imports milk from Hungary because there is not enough milk to meet quality standards. And I think we should interfere with this subprogram on this sector" said, Tuesday in Tulcea, Minister Daniel Constantin.
Acesta a mai spus că deocamdată nu sa stabilit cum se va aloca acest sprijin, dar a menţionat că în toamna acestui an vor fi prezentate toate schemele de finanţare pentru 2014-2020 în acord cu Politica Agricolă Comună.He also said that for now has not been determined how it will allocate this support but mentioned that in the fall of this year will make public all the funding schemes for 2014-2020 in accordance with the Common Agricultural Policy.
În acelaşi context, el şi-a exprimat deschiderea pentru orice observaţie adusă pentru modificarea legii privind camerele agricole, astfel încât aceasta să devină funcţională şi să fie o structură a fermierilor şi a menţionat că este posibil ca anul viitor actualele direcţii agricole judeţene să treacă în subordinea consiliilor judeţene, cu excepţia direcţiilor de control care vor rămâne ale Ministerului Agriculturii.In the same context he expressed openness to any observation brought in order to made changes to the law regarding the agricultural chambers, so it will become functional and be a farmers structure and mentioned that is possible that in the next year the current county agricultural directorates to become subordinated to the county councils except the Control Directorate which will remain to the Ministry of Agriculture. (A(Agerpres)
Un amplu sondaj pe tema sprijinului fermelor de lapte veți putea citi în curând, în următoarea ediție a revistei Fabrica de Lapte.A comprehensive survey on dairy farms support will be available for reading in the next edition of Fabrica de Lapte magazine.
How to legally protect a software program?
1. How can you avoid paying penalties of up to 10.000 ron?
2. Who organizes these controls and who applies sanctions?
3. What are the steps to legally distribute a software program?
4. What are the terms of settlement and required fees?
5. How to get the producer’s agreement?
For more access:
Four teams specialized in catering services/ food solutions will participate in the METRO Chef Final...
Bucharest, August 29, 2013 – METRO Cash & Carry Romania announces the finalist teams of the catering/ food solutions cuisine category in the qualification stage of METRO Chef 2013 competition. The most talented chefs took part in the final race of the competition.
Between August 20-21 and August 27-28, eight teams of one chef and one sous-chef competed in preparing dishes specific to the catering cuisine/ food solutions.
The jury nominated four teams that qualified in the METRO Chef 2013 Grand Finale: Cantina Eurest from Pitesti (represented by Pavel Mioara and Marcu George), Casa Bunicii Restaurant from Timisoara (represented by Daniel Cheregi and Ernest Hajdo), Belvedere Restaurant from Brasov (represented by Ioan Florescu and Paul Holhos) and Bistro De l’Arte from Brasov (represented by Grancea Marius and Oana Coanta).
The menus were assessed by a jury consisting in the specialists of the Gastronomy Competence Center METRO Cash & Carry Romania and in 5 special guests, among which also renowned national and international chefs:
- Sylvain Clerbout – Executive Chef Eurest Rom SRL
- Nicolae Lică – Executive Chef JW Marriott Bucharest
- Claudia Romana Rista – specialist in the cooking field, „The girl who cooks with flowers”
- Georgiana Ilie – Food Editor, Good Food
- Andreea Miu – Marketing Director, Good Food
METRO Cash & Carry România culinary specialists:
- Patrick Guibet – Executive Chef METRO Cash & Carry Romania
- Silvia Ailincăi – Pastry Chef METRO Cash & Carry Romania
„In the catering cuisine, organization is the most important aspect. A very careful planning of the menu, the team and the dishes is required, respecting the imposed conditions. This category implies a significant effort from the chefs and, in order to obtain tasty dishes that also resist to transportation, reheating and special serving conditions, the planning inside the team is vital. From all the options of the catering cuisine, we chose the buffet concept for METRO Chef, since it is one of the most required, and implies a lot of different dishes, to be prepared and served in a short period. Being a cuisine still in development, I was impressed by the passion and creativity of the participants at the METRO Chef competition, the catering cuisine/ food solutions”, declared Nicolae Lica, Executive Chef J.W. Marriott Bucharest.
During the event, organized at the Gastronomy Competence Center METRO Cash & Carry Romania, all teams of the category benefited from special training sessions in the culinary field, where the members of the jury METRO Chef emphasized the most relevant techniques and trends for the catering category/ food solutions.
„The catering cuisine registered a visible evolution, not just when it comes to the quality of the dishes, but also when it comes to the variety of the menus. Therefore, the catering industry started to grow gradually to a more varied offer, from the food in casseroles to cocktail dishes for premium events. The two-day session and the METRO Chef competition impressed me because of the chefs’ high level of training. Moreover, the fresh goods offer from METRO Romania answers even the most sophisticated needs in this field”, declared Sylvain Clerbout, Executive Chef Eurest Rom SRL.
This qualification phase for the Grand Final of the METRO Chef 2013 competition will be followed by the last category, the Italian cuisine, during September 09-10 and 11- 12.
The big finale of METRO Chef 2013 competition will be held between 1-3 October. METRO Chef Finale will nominate three winning teams for each category, the total value of the awards being 87,500 RON and shopping vouchers, in the total amount of 11,500 RON (VAT included).
About METRO Chef 2013
This year, METRO Cash & Carry Romania launched METRO Chef in a new format that addresses several more categories of customers in the HoReCa segment. With a new approach of the selection stages and of the final, based on the gastronomic specific, METRO Chef 2013 adds canteens and catering companies on this year’s list of companies eligible to join the competition. In addition to the previous editions, the 2013 edition offers all the participants a one-day training sessions, held by the jury members.
METRO Chef is a culinary art competition aimed at encouraging the passion for cooking and at rewarding excellence in the hospitality field.
The third edition of the competition addresses METRO customers in the HoReCa segment and is part of the METRO Cash & Carry Romania platform, aimed at supporting competitiveness and high standards of the specialists in the hospitality industry. METRO Chef 2013 will take place between May – October 2013, with 71 teams of chefs having already registered in the competition.
METRO Cash & Carry is represented in 29 countries with over 700 self-service wholesale stores. With a headcount of more than 120,000 employees worldwide, the wholesale company achieved sales of about € 32 billion in 2012. METRO Cash & Carry is a sales division of METRO GROUP. METRO GROUP is one of the largest and most international retailing companies. In 2012 the Group reached sales of around € 67 billion. The company has a headcount of over 280,000 employees and operates around 2,200 stores in 32 countries. The Group’s performance is based on the strength of its sales divisions which operate independently in their respective market segment: Metro/Makro Cash & Carry – the international leader in self-service wholesale, real,- hypermarkets, Media Markt and Saturn – European market leader in consumer electronics retailing, and Galeria Kaufhof department stores. More information at: www.metrogroup.de.
METRO Cash & Carry Romania is part of METRO Cash & Carry International and was officially launched in Romania in October 1996, when the first self-service wholesale store opened in Bucharest. Today, the network has 32 stores in 24 cities. The national distribution of the METRO Romania stores is as follows: 5 centres in Bucharest, 2 centres in Brasov, Constanta, Timisoara and Pitesti and one centre in each of the following cities: Cluj, Bacau, Iasi, Craiova, Baia Mare, Galati, Ploiesti, Oradea, Sibiu, Suceava, Tg. Mures, Arad, Deva, Braila, Satu Mare, Piatra Neamt, Buzau, Targoviste and Turda. More information at: www.metro.ro.
Head of Corporate Communications
METRO Cash & Carry România
Tel: +40 31 423 4141
Find out how you can receive up to 10.000 euro grant for your company
Bring Marius to Sochi! Romanian top skater to the 2014 Winter Olympics
In February 2014, when the Winter Olympics will be opened in Sochi, the Romanian Olympic Delegation will have one man representing his country in a typical Dutch winter sport: Marius Paraschivoiu, Romanian national record holder of 500m and 1000m speed skating.
Marius is a very talented ice skater who’s talent has been recognized by former World Champion Jeremy Wotherspoon who made him part of his speed skating team. Staying in Inzell (Germany), Marius is currently preparing for the 2013-2104 season, trained by coach Jan Bos, former Dutch and World Champion himself.
However, being an speed skater in a country without a big speed skating tradition is not so easy. Materials, training and traveling cost a lot of money. Without the help of supporters and sponsors it is not possible for Marius to reach Sochi. When hearing the story of Marius, we have decided to help him to collect the necessary funds for his Olympic season, so that he can keep on concentrating on his achievements on the ice rink. We arranged for Marius to stay in Inzell for the summer training, but to continue his season, he needs money.
NRCC board members Herman Wierenga, Managing Director ORTEC CEE SRL and Isfahan Doekhie, CEO Management Services BLISS SRL, have created a team of volunteers that support Marius this year and you can follow all his activities on http://getmarius2sochi.ro/ and https://www.facebook.com/Getmarius2sochi and anybody (companies and private persons) can contribute to his success via http://www.gofundme.com/4041ko.
We think it is very interesting for companies to financially support this great Sportsman fulfilling his dream. The sums we need are affordable, while the exposure of supporting one of the few members of the Romanian Olympic delegation in a sports that has strong media coverage will be considerable. We will organize one or more networking events in Bucharest, there will be possibility to visit Jeremy, Jan and Marius in Inzell and companies can receive ice skating training by Marius, or even participate in a clinic at the Inzell speed skating arena. Besides that, sponsors will have (depending on exact package) company logo on sportswear, banners and company profiles on http://getmarius2sochi.ro/ and names mentioned in press releases.
For Dutch companies with a link to Romania or for Romanian companies with a link to the Netherlands, this is an unique opportunity to show to your employees and business relations that your company cares about sport, results and Romania. If you would like to contribute in any possible way to this initiative, please let Herman Wierenga or Isfahan Doekhie know and they will discuss with you the possibilities.
The amortization of assets is a frequent operation in the life of a company. Nevertheless, it takes two forms: accounting amortization and tax amortization.
Starting from July 1st 2013, the purchase value of fixed assets in relation to which the amortization is accomplished has been modified by the Government Decision no. 276/2013.
ACCOUNTING AMORTIZATION AND TAX AMORTIZATION
Accounting amortization is the registration in the accounting of the depreciation of the value of certain assets, i.e. the loss of value of these assets. The value to be registered is the value of each asset (generally, its purchase cost) divided by the lifespan of the asset (expressed in years).
Tax amortization is the deduction, from a fiscal point of view, of the costs and expenses generated by the purchase, respectively the production of fixed assets in a manner similar to the accounting amortization; however, there are certain differences (e.g. concerning the value that can be amortized, the duration of the amortization). The main effect of this amortization is the decrease of the company’s tax result.
It is be noted that tax amortization only applies to tangible fixed assets. The conditions for an asset to be considered as amortizable from a fiscal point of view are:
a. Being owned and used in the production of goods, delivery or service provision;
b. Its tax value exceeds the limit established by Government Decision, at the date of its entry in the patrimony;
Nevertheless, there are also assets considered as amortizable assets by the law, even though they do not fulfill the conditions hereinabove
IMPLICATIONS OF THE MODIFICATION OF THE ENTRY VALUE OF FIXED ASSETS
As of this month, the minimum value in order for a fixed asset (e.g. material, industrial, equipment, computer, building etc.) to become amortizable will be ROL 2,500, instead of ROL 1,800.
This change refers to the tax amortization of assets, in the sense that the expenses for assets with a value inferior to ROL 2,500, incurred after July 1st 2013, may be fully deducted at the moment the asset is purchased and put into operation. In exchange, if the value of the assets exceeds ROL 2,500, they will have to undergo a process of tax amortization.
About GRUIA DUFAUT LAW OFFICE
Based in Romania since 1990 and having a strong team of about twenty French and English speaking Romanian lawyers, GRUIA DUFAUT Law Office assists foreign investors through all the stages in setting up their business in Romania and provides them with a local follow-up service covering tax and legal issues pertaining to the development of the company. GRUIA DUFAUT Law Office offers counsel and legal assistance to all foreign companies intending to export to or to enter the Romanian market.
THE FREEDOM OF ESTABLISHMENT IN ROMANIA
EU Directive 2006/123/EC on services in the internal market is the legal framework for elimination of the obstacles hindering the European Union service providers during the exercise of their rights to establish themselves and to freely provide services on territory of another Member State of the European Union.
In 2009, by the Emergency Ordinance no. 49, the Government has introduced in the internal legislation the provisions of the aforementioned Directive. Hereinafter you can find a brief reminder.
WHO BENEFITS FROM THE PROVISIONS OF THE ORDINANCE?
The Ordinance regards all service providers of the European Union intending to establish themselves in Romania, for any service provided, except financial services, electronic communications networks, transport, medical, audiovisual etc.
WHAT IS THE UCP?
The Ordinance has set up a UCP site, i.e. an electronic Unique Contact Point, by which service providers will be able du fulfill more easily, remotely and by electronic means the procedures and formalities necessary for the access to services.
UCP users will be able to immediately access information concerning: - the requirements imposed to providers concerning the procedures and formalities they have to fulfill in order to perform service activities in
Romania ; - the coordinates of the relevant authorities; - the means and conditions of access to the public registers including the service
- the legal remedies in case of a dispute between the competent authorities and the provider or the beneficiary, between a provider and a beneficiary or between providers;
- the contact coordinates of NGOs, other than the competent authorities, from which providers can obtain practical assistance.
The UCP can be accessed at the following address: http://www.edirect.e-guvernare.ro/PISEGWeb/PISEGPortal.portal
About GRUIA DUFAUT LAW OFFICE
Based in Romania since 1990 and having a strong team of about twenty French and English speaking Romanian lawyers, GRUIA DUFAUT Law Office assists foreign investors through all the stages in setting up their business in Romania and provides them with a local follow-up service covering tax and legal issues pertaining to the development of the company. GRUIA DUFAUT Law Office offers counsel and legal assistance to all foreign companies intending to export to or to enter the Romanian market.
ADVERTISING SUBJECT TO THE RULES OF URBAN PLANNING
After numerous controversies, including a claim at the Constitutional Court in 2010, Law no. 185/2013 on the authorization and placement of logos and billboards entered into force on 8th of July. The law intends to regulate outdoor advertising more strictly in order to preserve historical areas, the urban landscape and the architecture of buildings.
WHAT TYPES OF ADVERTISING DOES THE LAW AIM AT?
The new Law applies to all types of advertising, like small advertisements, posting signs, logos, illuminated signs, billboards and advertising in public spaces.
Moreover, as regards vehicles equipped for advertising purposes, the law is stricter regarding their circulation on public roads; it is also strict as regards advertising on public transportation means (tram, bus etc.) and its goal is to ensure that the consumer has a clear view outside when getting on a public transportation vehicle.
CONDITIONS OF ADVERTISING ARE BECOMING MORE SEVERE
Persons working in the advertising business may no longer post outdoor advertising in places like public institutions, deteriorated buildings, trees, cemeteries, public monuments, public parks and gardens, glass surfaces of buildings etc, without applying for special permits ...
Moreover, posting any type of outdoor advertising on telecommunication / electricity poles, on public lighting installations and traffic lights is forbidden. Advertising materials may not be installed at a distance of less than 3 meters from private buildings without the prior consent of the owners.
WHAT ARE THE SANCTIONS?
City Halls have the obligation either to adopt new Advertising Regulations or to update the already existing regulations within 60 days from the moment of entry into force of the law.
The non-compliance to the new rules will be punished by a fine mounting up to ROL 50,000, except authorizations already issued for any type of outdoor advertising still valid until January 1st 2014, without being subject to the new provisions.
About GRUIA DUFAUT LAW OFFICE
Based in Romania since 1990 and having a strong team of about twenty French and English speaking Romanian lawyers, GRUIA DUFAUT Law Office assists foreign investors through all the stages in setting up their business in Romania and provides them with a local follow-up service covering tax and legal issues pertaining to the development of the company. GRUIA DUFAUT Law Office offers counsel and legal assistance to all foreign companies intending to export to or to enter the Romanian market.
CEE (the) Opportunity!
The Netherlands Chamber of Commerce in Slovakia has the pleasure of inviting you to participate with
the promotion & organization of two HIGH-PROFILE seminars in The Netherlands focusing
on Agriculture and ICT. The seminars are scheduled on the 28th and 29th of November 2013.:
CEE (the) Opportunity!
The seminars are a unique platform in which you can promote your country and its unique business society.
The seminars will attract a high quality audience.
The seminars are organized in co-operation with many chambers of commerce and FDI bureau's of
Croatia, Czech Republic, Hungary, Netherlands, Poland, Romania, Slovakia, and Ukraine.
MERGERS OF COMPANIES IN ROMANIA – A BRIEF LEGAL, TAX AND ACCOUNTING APPROACH INCLUDING THE RECENT ...
MERGERS OF COMPANIES IN ROMANIA – A BRIEF LEGAL, TAX AND ACCOUNTING
APPROACH INCLUDING THE RECENT CHANGES IN LEGISLATION
ABSTRACT: The complexity of the merger is reflected not only in its legal regime but also in its tax and accounting implications that must be taken into account before two or more companies decide to merge, in order to restructure their business. For this purpose, it is important to know the legal framework of the merger and the procedure of the merger that implies preliminary accounting operations, drafting and publicity of the merger report, approval of the merger by the shareholders and its registration based on a court decision with the register of commerce. The nullity of a merger is possible but only within certain limits and it still needs to be regulated as a merger from an accounting and tax point of view. The merger is neutral from a tax point of view and one of its recent beneficial consequences is that the financial loss can be recovered.
- Preamble to the Legal Framework on Mergers in Romania
According to Romanian law the merger is an operation where one or more companies are wound-up without going into liquidation and transfer all their assets and liabilities to another company, in exchange of shares in already existing companies or in newly established companies and of cash payment (if the case), not exceeding 10% of the nominal value of the shares so allocated.
The Law on Companies no. 31/1990 and the Civil Code represent the general legal framework of mergers of companies in Romania. In addition to them there are other legal documents regulating mergers and acquisitions from an accountancy and tax perspective, as follows:
- Accounting Law no. 82/1991;
- Order of the Ministry of Finances no. 1376/2004 regarding the approval of the Methodological Norms regarding the Reflection in Accounting of the Main Operations of Merger, Spilt-up, Wind-up and Liquidation of Companies, as well as the Withdrawal and Exclusion of Shareholders from Companies and the Applicable Tax Treatment;
- Order No. 3055/2010 of the Ministry of Public Finances on the Approval of the Accounting Regulations in compliance with the European Directives;
- Fiscal Code.
In addition to the general provisions, in the case of mergers between credit institutions, banks, insurance companies, different special regulations are applicable. As in other countries, companies involved in a merger may be subject to certain restrictions, most frequently from a competition perspective. Thus, in case of a merger one should analyze whether, by meeting certain material thresholds (for establishing which financial figures of the merging companies are necessary), the respective merger falls under the provisions of Competition Law 21/1996, or even of the Council Regulation (EC) no. 139/2004 on the control of concentrations between undertakings.
The Romanian legislation underwent a major change in 2011, when a new Civil Code entered into force. Such Code contains specific information about the merger of legal entities that also apply to companies. The merger was explicitly recognized as a reorganization mean of the legal entity.
The New Civil Code provides just some general rules concerning the merger – most of them already set forth by the Company Law, but there are also some specific rules. As regards this category, we are referring to the provisions related to the termination of contracts on the occasion of mergers. In fact, in case of intuitu personae contracts (contracts that were concluded taking into account the quality of the contracting party) they shall not be terminated due to the merger unless the contrary is expressly stipulated in their content or that the continuation of the contract is based on the prior approval of the contracting party. This provision is important and must be taken into account when drafting such a contract and thinking in perspective. It is then to decide whether the contract should also continue in case of a merger or not. It is a long shot decision. For example, in case the transfer of the contract is conditioned by the obtaining of a prior approval of the other party and such condition is not fulfilled and covered and the shareholders discover it within 6 months after the merger, this could trigger the nullity of the merger; according to Romanian law, it can be ruled only by the court. We have encountered this aspect in our legal experience, as a lawyer to the trial during which the Bucharest Court ruled on such a case in November 2011 (court decision that was not published) and decided the nullity of a merger concluded under these circumstances. The result was the first nullity of merger to be implemented by the Register of Commerce and by the tax authorities in Romania. It was a bureaucratic and challenging experience for the shareholders, the companies involved in the merger, the judge, the lawyers and the authorities: it took several years and its accounting effects are still in progress.
In fact, as regards the nullity of the merger, except for one article referring to it in the Law on Companies no. 31/1990 the rest of the Romanian legislation is silent. So, it is more than necessary that the Romanian legislator also regulates this matter, including the registration, accounting and tax implications. As the law has the role of creating the instruments for the implementation of new situations occurring in practice, some based on a legal possibility materialized by a court decision and it is necessary to be implemented so that the parties involved benefit from the rights gained in justice.
Another aspect clarified by the New Civil Code in connection to the merger regards the transfer of real estate following a merger. Thus, in order for the ownership right of the real estate of the absorbing company or the new company created by merger, be recognized it is necessary that the merger report is authenticated by the notary and after the merger is registered with the Register of Commerce the transfer of the real estate must also be registered with the Land Register. It should be noted that from the previews of the provisions it did not result that the merger report had to authenticated if between the assets transferred through merger from a company to another there was also real estate and the practice of the authorities as regards the form of the merger report was different for the authorities from a county to another. Now, the practice is unified.
The New Civil Code was mainly inspired from the Quebec Civil Code, but also the Swiss Civil Code, the Brazilian Civil Code and other European Civil Codes (Spanish, French and Italian). Meanwhile, the corporate, tax and accounting provisions regarding mergers are most of European influence. In fact, an important part of the Romanian legislation regarding mergers of companies is harmonized with the European provisions in the field.
It was in the spirit of harmonization with the European provisions that Law no. 31/1990 was also changed in 2012 by the Government Ordinance no. 2/2012 on mergers. The main change regarded the simplification of procedure and publicity of the merger. Thus, , the obligation of information of the shareholders was limited under certain conditions, the formalities of publicity of the merger were simplified, offering companies the possibility to use their websites to publish the merger project instead of the publicity in the Official Journal. We are witnessing the way the law is continuing to adapt to the new means of communication, accepting and recognizing the importance of the internet and indirectly encouraging companies to create and use their websites not only for commercial, but also legal publicity.
- General Presentation of the Accounting Preliminary Procedure of Merger - Overview
In Romania, as in almost all the Member States of the European Union, any merger implies two or more companies and there are two types of merger: the merger by absorption of one or more companies by another company, or the merger of one or more companies by creation of a new legal entity. The most frequent case of is the one of merger by absorption, therefore our article shall refer to such merger and only if there are certain particularities to the merger by formation of a new legal entity.
The procedure of merger implies several stages, after the representatives of the two or more merging companies meet and discuss the aim of the merger and the steps to be taken.
Thus, the next one is the stage of preliminary accounting and financial organization in view of the merger. The Order of the Ministry of the Finances no 1376/2004 provides as mandatory the following phases of merger:
- Inventory and evaluation of all assets, liabilities and net assets of the merging companies
There are specific legal provisions about the performance of inventory and evaluation, in accordance with the Law no. 82/1990 and other legal deeds referring to these operations. They are well-known by the accountants of the each of the companies involved in the merger.
- Drafting the financial statement for the merger
The same Law no. 82/1990 provides that in case of merger the financial statements of the merging companies to be drafted on this occasion and submitted to the tax authorities. Still, it is to be noted that it is possible to also use the annual financial statements of the companies concerned, if the financial situation of the companies at the time of the merger process did not change significantly compared to the annual ones. From this point of view, it is advisable to perform a merger at the beginning of the year, after the annual financial statements were approved by the shareholders.
The financial statements to be used as reference for the merger are very important as they contain the accounting net assets (that is equal to the difference between the total assets and the total debts of the company), as that shall be used for the computation of the exchange ratio of the shares of the merging companies, later.
- Auditing the financial statements of the merger
According to Law no. 82/1990 in case of merger the financial statements of the merging companies must be audited, if such companies have the legal obligation to have the financial statements audited. If the annual financial statements are used for the merger then the audit report for them can also be used for the merger.
- Global evaluation of the merging companies; determination of the net participation
Each of the companies involved in the merger must be evaluated by one of the following methods:
- the patrimonial or the net assets method;
- the stock market method;
- the methods of the outcome (such as the payoff method, the output method or the estimated profits value method);
- mixed methods, or the
- cash flows method.
According to Order no 1376/2004 the global value of each company established based on one of the above mentioned methods represents the net value of the merger participations of every company involved in the merger. The exchange ratio of the shares of the merging companies shall be determined based on this value of participation in the merger.
It is to be noted that Order no 3055/2009 changed the regime of the evaluation and stated that the evaluation on the occasion of merger does not represent a reevaluation with an accounting impact, as it is performed only for the purpose of establishing the exchange ratio. In this case, the results of the evaluation shall not be registered in the financial statements for the merger. The exception to this rule is the situation in which the annual financial statements are used for the merger.
- Computation of the exchange ratio in order to cover the capital of the absorbed company and determination the number of shares to be issued for the net participation
Computed based on the global value of the merging companies, the exchange ratio means the number of shares to be issued by the absorbing company for the shareholders of the absorbed company.
In order to calculate the exchange ratio, the accounting value of the participation of every participating company must be calculated. Such value is established by dividing the net participation of the company to the number of shares issued by the company.
It is to be noted that based on the value of the net participation the amount of the merger premium (number of newly issued shares x (book value of one share - nominal value of one share) and the new shares that can be issued shall also be established.
The Law on Companies no. 31/1990 provides that in certain cases companies must chose an expert to examine the merger report, and that the conclusions of their analysis will be mentioned in a written report (to be presented to the judge). This report must specify whether the exchange ratio is correct and reasonable, as well as: the method or methods used to determine the exchange ratio, whether the used methods are appropriate for the case, and the opinion of the experts concerning the accuracy of the methods used to determine the exchange ratio. The report must also describe all special difficulties met during the process of evaluation.
After the above mentioned accounting and financial operations are finished, their results must be communicated to the directors of the merging companies, who must draft a merger report that shall be submitted to the Register of Commerce in order to be published in the Official Journal or on the website of the each of the merging companies. In certain cases, the shareholders of the merging companies gather in order to approve the initiation of the merger process, appointing the directors as attorney-in-fact for these operations and if all the shareholders are present it is possible to waive to the appointment of an expert to check the merger report.
Within 30 days after the publication of the merger report, any creditors may appeal the merger if it breaches their rights. If the merger is not appealed in court, than the merger report shall be submitted for approval to the shareholders of the companies. Afterwards, a file with the merger report and the resolutions of the shareholders of the merging companies approving the merger is submitted to the Register of Commerce that and it shall send it to the Court. A judge shall rule regarding the merger. If he considers that the merger was legally performed, he shall issue a decision regarding this and the merger shall be registered with the Register of Commerce.
The merger can be effective from the date of registration with the Register of the decision of the last general meeting having approved the operation or on the date decided by the shareholders of the merging companies. In the last case, two conditions must be fulfilled: (i) the conventional date must not be after the closing of the current financial exercise of the absorbing company and (ii) the conventional date cannot be previous to the closing of the last financial exercise of the absorbed company. Choosing a conventional date for the merger can create several problems in practice, therefore the merging companies must have particular diligences as:
- ”Informing the creditors of the companies involved in the merger about the date when the merger becomes effective;
- Adopting certain measures and/or offering warranties aimed at protecting the interests of the social creditors as well as the continuity of the business relationships, and
- Harmonizing the data in the financial, accounting and tax documents of the companies participating to the merger”.
The difficulties regarding this conventional date are mainly of an accounting nature and in order to simplify them it is advisable that this conventional date be established after the date of the merger report and after the date of the resolutions of the shareholders approving the merger, more specifically at the end of the month estimated for the registration of the merger.
It is to be noted that as an exception due to the complexity of the operation, the merger can be declared null by but only within a period of 6 months since the merger becomes effective, no matter what grounds are invoked. Unfortunately, as presented in the introductive part of the paper, the Romanian legislation is lacking important provisions regarding the accounting and tax applications of such nullity.
- Tax Implications
3.1 General Tax Implications
As expected, the Fiscal Code contains most of the provisions with a potential impact on the taxation of mergers. Generally, it is intended that mergers be neutral for tax purposes. This means that mergers are expected neither to give rise to taxation, nor to give rise to additional tax advantages, which would not have arisen in the absence of the merger. In fact, this tax regime is the common system of taxation applicable to mergers provided by Directive 90/434/EEC and codified and published in an updated version, respectively Directive 2009/133/EC.
There are some general tax rules that apply to merger, as follows:
- The transfer of assets and liabilities is not subject to taxation;
- The tax value of an asset or liability that shall be taken by the absorbing company shall be equal to the pre-merger base cost of the asset in the absorbed company’s books;
- The fiscal loss incurred by the company absorbed by merger shall be recovered by the absorbing company.
Government Ordinance no. 15/ 2012 amending the Fiscal Code published in August 2012 changed the treatment of fiscal losses recorded by taxpayers which cease to exist following a merger. Thus, fiscal losses may be recovered by newly established taxpayers or by the absorbing company, proportionally to the assets and liabilities transferred to this company, according to the merger report.
In the case of cross border mergers asset transfers and share exchanges involving companies from two or more EU Member States, if the transferring company registers a fiscal loss, this loss may be recovered by the permanent establishment of the receiving company situated in Romania.
This change regarding the recovering of losses is very important as previously it was provided that the fiscal losses could not be recovered by merger, reason for which many companies that had losses did not choose to reorganize their activity by merger.
- Tax depreciation for any assets transferred is determined in accordance with the rules provided by article 24, that would have been applicable by the absorbed company, if there had not been a transfer;
- The transfer of a provision or a reserve is not considered a decrease or annulment of such provision or reserve, if another taxpayer takes and maintains the value it had before the transfer.
These main rules are also partially repeated by the Order no. 1376/2004, in a different manner, from the point of view of the absorbing company and of the absorbed company.
It is to be noted that the neutral tax treatment shall not be applicable if a merger has as main objective tax evasion or tax avoidance and it is very important that the companies prove to the tax authorities that the merger was determined by commercial and management strategically reasons, not by tax reasons.
3.2 Specific Tax Implications
- Corporate income tax
The Fiscal Code provides that the merger is treated as a non taxable transfer from a corporate income tax point of view. This implies that the income of the absorbing company is non-taxable and the expenses are non-deductible.
The transfer by a company of all or part of its assets, through operations such as merger, is not considered supply of goods or services if the beneficiary of the assets is a taxable person (which is the case of all persons participating in the mergers), therefore the transfer of the assets from the absorbed company to the absorbing one shall be VAT free.
The preparation for the merger starts from drafting the contracts establishing its regime in case of reorganization of the contracting parties. During the life of many companies there comes a moment when the decision of merging with one or more companies it taken. It is then the time to prepare such a merger not only from a legal point of view, but also from an accounting and tax approach. Such operation can be simplified by using well trained professionals familiar with the particularities of this process, as: (i) the value of an evaluation of the merging companies – that cannot be written in the financial statements of the merger, unless the annual financial statements are used; (ii) when the annual financial statements and auditors’ annual report can be used for merger – if the merger is started after the approval of the annual financial statements or even later, but on condition that important financial events did not occur; (iii) how to prevent situations that could lead to the nullity of merger – transferring the contracts by observing their provisions and ensuring the legitimacy of the merger and of the resolution of the shareholders of the merging companies; (iv) how to choose the conventional date – by the end of the month estimated for the finalization of the registration or a month later; (v) that it is possible to recover the losses in a merger - and which are the limits of the neutrality of the merger –merger is not just a real reorganization, just a simulation in order to benefit from its neutral tax treatment.
 Presented at International Conference on Law and Social Order, Constanta, Aprilie 26, 2013 and published in volume 2 of the conference, published by Addleton Academic Publisher, New York, 2013.
 Senior Lawyer at GRUIA DUFAUT Law Firm – Bucharest (Romania), PhD Student, 2nd year in Commercial Law at the Faculty of Law (University of Bucharest – Romania);
 Simion Ionuț, Stoian Adriana, Boanță Radu, ”Consideration regarding the Moment when the Merger or Spin-off Start Producing Effects”, Curierul fiscal no. 1/2009, p. 8-10.
 It is to be noted that the French scholars also made reference to the possibility of establishing the conventional date by a clause of retroactivity included in the merger report and fixing this date prior to registration of the merger or the merger report or the resolution of the shareholders approving the merger e.g. Chadefaux Martial, Les fusions de sociétés régime juridique et fiscal, 6th Edition, Ed. Groupe Revue Fiduciaire, Paris, 2008, p. 91-94; Mercier Jean-Yves, Fusions – Apports partiels d actifs, scissions, 2nd Edition, Ed. Francis Lefebvre, Paris, 2011, p. 151-163. Such retroactivity clauses are not met in the Romanian mergers.
 Ples Andrada, ”Tax restrictions within mergers by absorption”, Curierul fiscal no. 4/2010, p. 23.
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APIA verifică cererile de plată pentru 2013 / APIA checks the requests for payment for 2013
APIA verifică cererile de plată pentru 2013
Autor: Ilie Stoian
Suprafeţele agricole declarate de către fermieri în cererile unice de plată pentru anul 2013 sunt verificate, în această perioadă, de către echipe de control ale Agenţiei de Plăţi şi Intervenţie pentru Agricultură (APIA), se arata intr-un comunicat de presa.
Potrivit documentului de presa, pe baza reglementărilor europene şi naţionale, fermierii trebuie să respecte anumite condiţii atunci când depun cereri unice de plată, cum ar fi ca exploatarea unui teren agricol să se facă pe o suprafaţă de cel puţin un hectar, cu suprafaţa parcelei agricole de cel puţin 0,3 hectare.
În cazul viţei-de-vie, livezilor, culturilor de hamei, pepinierelor pomicole, pepinierelor viticole, arbuştilor fructiferi, suprafaţa minimă a parcelei este de cel puţin 0,1 hectare. Totodată, în ceea ce priveşte livezile tradiţionale, suprafaţa minimă eligibilă a parcelelor pentru Pachetele 1 şi 2 ale Măsurii 214 este de 0,3 hectare.
De asemenea, trebuie sa se respecte cerinţele de eco-condiţionalitate reglementate prin legislaţia naţională, pe toată suprafaţa agricolă a exploataţiei, respectiv: Bunele condiţii agricole şi de mediu (GAEC), Cerinţele legale în materie de gestionare (SMR) şi Cerinţele minime (relevante pentru măsura de agro-mediu).
Fermierii trebuie să respecte cerinţele specifice pachetelor de agro-mediu solicitate, iar pentru măsura 214 – plăţi de agro-mediu este obligatorie ţinerea evidenţei agricole (caietul de agro-mediu trebuie completat şi păstrat pe toată perioada de desfăşurare a angajamentului conform legislaţiei în vigoare), fiind condiţie de eligibilitate.
Daca solicitantul refuză sau restricţionează accesul în exploataţie a reprezentanţilor APIA, pentru efectuarea controlului la faţa locului, cererea prin care s-a solicitat sprijin pe suprafaţă devine neeligibilă, se mai arata in comunicatul citat de Agroazi.
APIA checks the requests for payment for 2013
Author: Ilie Stoian
The agricultural area declared by farmers in the requests for the single payment applications for 2013 are being reviewed, during this period, by control teams of the Agency for Payments and Intervention in Agriculture (APIA), as it shows a press release.
According to the press document, based on European and national regulations, farmers must meet certain conditions when applying for single payment requests, such as the exploitation of an agricultural land to be made on a surface of at least one hectare, with the agricultural parcel of at least 0.3 hectares.
In the case of vines, orchards, hops, fruit tree nurseries, vineyards nurseries, shrubs the minimum plot area must be of at least 0.1 hectares. However, in terms of traditional orchards, the minimum size of plots for Packages 1 and 2 of Measure 214 is 0.3 hectares.
You also need to meet requirements of eco-compliance regulated by national legislation on the whole agricultural area of the holding, respectively: Good agricultural and environment conditions (GAEC), the Statutory management requirements (SMR) and Minimal requirements (relevant to the agri-environment measure).
Farmers must meet specific requirements for requested agri-environmental packages, and for measure 214 - agro-environment payments is mandatory keeping of farm records (agro-environmental book must be filled and kept throughout the duration of the duration of commitment according to the legislation in force), this being a condition of eligibility.
If the applicant refuses or restricts access to farm of APIA representatives, for conducting the inspection on site, the application with which they requested support becomes ineligible, as shown in the press release quoted by Agroazi.
Interest and Penalties for the non-payment of tax debts
In order to help taxpayers with liquidity problems when paying the taxes due to the State, the Romanian Government decided to adopt new provisions concerning the interest and the late payment penalties for these tax debts. The new rules shall enter into force starting from July 1st, 2013.
INTEREST AND PENALTIES... WHAT IS THE DIFFERENCE BETWEEN THE TWO?
The State applies two types of sanctions for the non-payment of the tax debts within the legal term. The new provisions are meant to make a better distinction between the two, therefore:
- Late payment interest – is the equivalent of the prejudice brought to the State for the non-payment of the fiscal debt within the deadline calculated for each day of delay, starting from the next day after the expiry of the payment term until the date of payment of the debt;
- Late payment penalties – are the pecuniary sanction for the non-payment of the tax debt within the payment term and they are calculated for each day of delay, starting from the next day after the expiry of the payment term until the date of payment of the debt.
Therefore, the interest has a reparatory character, aiming at protecting the real value of the payments towards the State budget. On the other hand, penalties have a sanction character, aiming at discouraging the non-payment of the tax debts within the term.
It has to be noted that the payment of late payment penalties does not exonerate the taxpayer from paying late payment interest.
PENALTY AND INTEREST RATES
At present, late payment penalties for tax debts are established depending on the period of late payment, as follows:
- For a delay of up to 30 days, late payment penalties are not applied;
- For a delay between 31 and 90 days from the moment the payment becomes due, late payment penalties are of 5% of the main paid amounts;
- For a delay superior to 91 days from the moment the payment becomes due, late payment penalties are of 15% of the main not paid tax obligations.
Starting from July 1st 2013 taxpayers shall have to pay a penalty of 0.02% per day of delay, i.e. a penalty of 7.3% per year. These rules apply to tax debts with a due date after July 1st, 2013.
Late payment interest is of 0.04% for each day of delay, i.e. 14.6% per year.
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Ionescu si Sava – “Competition Law Firm of the Year”, according to Acquisition International
Law firm Ionescu si Sava has won the 2013 award “Competition Law – Firm of the Year – Romania”, offered by the prestigious British magazine Acquisition International.
The only such title awarded by Acquisition International to a Romanian law firm was attributed to Ionescu si Sava in recognition of its achievements in the field of competition law during 2012 and 2013.
The number of votes received from clients recommending Ionescu si Sava for the award was the most important factor in determining the winner, along with the substantial in-house research conducted by Acquisition International’s team.
The most important projects recently undertaken by Ionescu si Sava in the field of competition law include offering legal assistance to an automotive manufacturer on aspects related to the acquisition of a subsidiary in Romania, assisting several pharmaceuticals companies during the pharmaceuticals market investigation initiated by the Competition Council this year, assisting a Chinese investment fund during the acquisition of several entities in the field of household appliances and electronic commerce or the training courses on competition applicable regulations offered to the clients.
This year’s Acquisition International awards acknowledged over 1000 winners across more than 130 regions of the world.
“We believe that the award comes as an appraisal of our achievements in the past year in the field of competition law – particularly in the pharmaceuticals and automotive sectors.
We have seen an increase in demand for our services from international clients originating from important capital source countries with business interests in Romania – such as China, Russia or India”, says Radu Ionescu, Managing Partner of Ionescu si Sava.
Acquisition International is a monthly magazine published by the British publishing house AI Global Media Ltd, providing complete international coverage of M&A transactions, combined with industry expertise and sector analysis.
New head of IMF mission for Romania comes from European Fiscal Affairs Department
Previously to taking over as new head of the mission of the International Monetary Fund for Romania, Andrea Schaechter worked with the European Fiscal Affairs Department in 2007-2009, where she was in charge of the Fiscal Policy and Surveillance Division and played a key part in making one of the most important publications of the IMF, Fiscal Monitor, informs the IMF representative office in Bucharest in a release.
Andrea Schaechter will head the IMF delegation, which will carry out a new mission in Romania over July 17-31 after Romania successfully concluded the second stand-by agreement with the Fund.
Schaechter replaced Erik de Vrijer, who fulfilled a one-year mission in Romania.
The German born new head of the mission of the International Monetary Fund for Romania also participated in a number of projects on fiscal regulations, technical assistance activities.
From 2004 till 2007 she was an economist with the IMF European Department for Ukraine. Previously she gave counselling on monetary questions and exchange rates in the monetary department and the capital market.
Andrea Schaechter started her career with the IMF in 1998 as chief economist with the African Department in Benin.
Romanian Red Cross launches the first First Aid point in the isolated village of Titcov from Braila ...
Brăila, 10 July 2013: Romanian Red Cross launches the first First Aid point in the isolated village of Titcov. The first aid point is financially supported by METRO Romania, and by funds collected during the Red Cross Gala in 2012.
40% of the population in Romania lives in villages. In remote villages, the emergency medical services arrive within hours. For villages where there is no permanent medical service, the time until the arrival of the ambulance makes the difference between life and death.
Titcov Village of Frecăţei, Braila County, is located 60 km from the first medical service. For the ambulance to reach this remote village, it has to cross the water by Raft and then drive on a bumpy road. From the emergency call to the arrival of the ambulance it takes 2 or 3 hours, depending on the weather. In case of flooding or snowfall, the access to the area can be done only by helicopter.
Romanian Red Cross aims to support the isolated community of Titcov by training a family that will provide the basic first aid to the village. The trained family received a first aid kit containing bandages, a glucometer, a blood pressure device and a remote reading ECG device in a cardiology service. The “community savers” family has the role to help resolve minor emergencies in the community and prevent the worsening of the situation in the event of major emergencies that require medical attention.
"Every first-aid point set up in remote areas means saving lives. A quick action applying the first-aid necessary and correct techniques in the first critical minutes from the occurrence of the accident or the onset of an emergency can save lives. We thank Metro for supporting such a valuable cause! We also thank the family who voluntarily accepted to participate in this project and takes part in the mission to support all those who will need help," Ms. Mihaela Geoana said, President of the Romanian Red Cross.
The project "First-aid points in remote areas" was launched by the Romanian Red Cross at the Red Cross Gala on September 23, 2012 and it is addressed to the isolated rural communities that have no permanent medical service, and where the ambulance service is remote. In these isolated villages, in case of an accident or if a chronic illness becomes acute, many tragedies occur until ambulance arrives.
"With this project, the company METRO Cash & Carry Romania continued the partnership of over five years with the Red Cross organization. We were glad that we can help with food for the needy, through the Food Bank, to develop assistance programs for the elderly and, last but not least, to develop first aid programs in Romania. We are fully in support of such socio-humanitarian causes with high positive impact in local communities and through which we can help improve the quality of life in remote rural areas." Adina Tîmplaru stated, Head of Corporate Communication Departement, METRO Cash & Carry Romania.
The financial effort to implement this pilot project in 41 remote villages in each district in the country is of about 100,000 euros. So far, the project is in the implementation phase in 9 counties: Arges, Bacau, Cluj, Dâmboviţa, Harghita, Hunedoara, Iasi, Teleorman and Timis. By the end of 2013, we intend to develop projects in the rest of the counties.
About the Romanian Red Cross:
Founded on July 4, 1876, the Romanian Red Cross is a member of the International Red Cross Movement, and it carried out its humanitarian activity under the Fundamental Principles of the Movement: Humanity, Impartiality, Neutrality, Independence, Volunteering, Unity, Universality. Providing the first aid, supporting the most vulnerable people, intervention in disaster, health education, dissemination of humanitarian values , are still the main areas of activity of the Romanian Red Cross.
About METRO Cash & Carry Romania:
METRO Cash & Carry Romania is part of METRO Cash & Carry International and was officially launched in Romania in October 1996, with the opening of its first distribution center in Bucharest. Today, the network includes 32 stores in 24 cities. The national distribution of the METRO stores Romania is: 5 centers in Bucharest, 2 centers in Brasov, Constanta, Timisoara and Pitesti and one center in each of the following cities: Cluj, Bacau, Iasi, Craiova, Baia Mare, Galati, Ploiesti Oradea, Sibiu, Suceava, Tg. Mures, Arad, Deva, Braila, Satu Mare, Piatra Neamt, Buzau, Targoviste and Turda. Further information on: www.metro.ro.
Romanian Red Cross - Nadia Lazăr, Communication Expert, phone: 0748 238 024
METRO Cash & Carry Romania – Adina Tîmplaru, Head of the Corporate Communication Department, phone + 40 31 423-4140
METRO Cash & Carry extends “De-ale noastre” programme, aimed at supporting the local producers
Bucharest, 2013: METRO Cash & Carry Romania continues “De-ale noastre” programme for supporting the local producers in 2013, by expanding the assortments and adding fruits to the offer. Moreover, “De-ale noastre” includes partnerships with the producers from new vegetable areas.
“De-ale noastre programme is one of METRO Cash & Carry Romania top priority programmes and it reaches a new dimensions starting with 2013. The assortments expansion and the new partnerships with local producers near the Capital and in the country are elements which can meet socio-economic needs at a national level. On the one hand, we offer our clients and the Romanian consumers local vegetables and fruits that comply with high quality standards; on the other hand, we provide consultancy and support for the Romanian producers for a sustainable agriculture and for selling their products”, declared Dusan Wilms, General Manager, METRO Cash & Carry Romania.
“De-ale noastre” novelties in 2013
This year, the programme extends its partnerships, addressing local producers from the vegetable area in Poiana Mare, Dolj County, as well as farmers near Bucharest.
In 2013, “De-ale noastre” extends the product offer, including an assortment of 35 vegetables and fruits, compared to 4 types of vegetables in 2012. A new element in the programme is the introduction of the fresh fruit assortment - melon and watermelon of Dăbuleni –varieties appreciated at national level for their unique taste and smell.
With the extended offer of vegetables and fruits, METRO Romania meets its customers, providing them with fresh ‘De-ale noastre’ products from May to October 2013. “De-ale noastre” programme aims at ensuring a significant percentage of the total production of vegetables and fruits marketed in all METRO Cash & Carry stores from Romania.
Support for local producers
“De-ale noastre” is a unique programme in Romania in regard with the support given to the local producers, in all the key production stages (consultancy, collection, packaging solutions), as well as in the production monitoring, distribution and selling in all METRO stores in Romania.
The company provides the producers in the program specialized consultancy from the agronomist engineer, consultant of METRO Cash & Carry Romania. His role is to assist the small producers throughout every stage of the production process, offering them advice regarding: selection of varieties, according to the soil type, optimum harvesting period, production techniques and means or methods to make production costs and resources more efficient.
Thus, the producers obtain fruits and vegetables which comply with the international quality standards and can leverage their invested production and resources.
Particularity of “De-ale noastre” products
Production control, from seeding to the moment when the vegetables reach the shelf, ensures product traceability and controlled origin. This means that any METRO customer, who buys “De-ale noastre” vegetables and fruits, has the available information about their origin, production methods used, or the harvesting period, having thus an assurance of their quality.
After collection, the products are delivered to all METRO Cash & Carry stores throughout the country, within the shortest period of time, in order to keep a high level of freshness of vegetables and fruits. Traditional harvesting techniques offer authentic taste and smell to the products and impose the use of natural fertilizers in a share of over 80%.
The programme is part of METRO Cash & Carry Romania support platform for local producers, by which the company encourages the development of key sectors of the economy and sets new standards at the market and producer level.
Head of Corporate Communications
METRO Cash & Carry România
Tel: +4031 423 414
Bulgaria, Romania Schengen Bid Not High Priority for Lithuanian EU Presidency
The accession of Bulgaria and Romania to the Schengen border-free area may not be among the priorities of the Lithuanian Presidency of the European Union, EU, which started on July 1, according to Raimundas Karoblis, Permanent Representative of Lithuania to the EU.
Speaking at a Brussels conference on the priorities of the Lithuanian EU Presidency, Karoblis, as cited by Euractiv, said it was "very difficult" to make any promises about "the difficult dossier of Bulgaria and Romania's bid to join Schengen."
Karoblis said that "maybe it would be good" to put the Schengen accession of Bulgaria and Romania to the "Open Europe" chapter of his country's Presidency priorities. But he immediately added that Lithuania preferred to list as priorities areas where progress could realistically be made.
"For us, regarding the results, it is very difficult to promise something. It will depend also on what happens on the ground, what is the progress made in Romania and Bulgaria, and on the other hand the positions of member states that still have concerns," Lithuania's envoy to Brussels said.
Karoblis also noted that the issue of "benefit tourism" created further complications for the Schengen accession of the two countries.
Euractiv reminds that the EC has considered Bulgaria and Romania ready to join the Schengen borderless area since 2010, but their bid has been blocked by a number of older EU members on the grounds of poor border controls, corruption, lack of progress under the Cooperation and Verification Mechanism and "benefit tourism" by the countries' Roma population.
Celebration of the Lithuanian Presidency of the EU Council in Bucharest
To celebrate the opening of the Lithuanian Presidency of the EU Council the Ambassador of the Republic of Lithuania to Romania invited the business community, the diplomatic corps and the representatives of the Romanian Government to a concert at Odeon theatre. The Lithuanian Trio Ventis Nova ensemble played magnificently classic and new music. The concert was followed by a cocktail.
Are you the administrator of a company? Find out what to do in order to avoid paying with your perso...
Bankruptcy processes which have started with the economic recession in 2008-2009 are now coming to an end. As expected, most creditors have not received their money after the liquidation of the debtor companies. As a last resort, debt recovery is attempted by attracting personal liability of the former administrators (...).
- Do you have debts to recover? Here are 10 things you need to consider in the debt collection procedu...
Realize your debt collection plan according to the legal report on your debtor!
Drawing-up a report with the purpose of identifying the files that your debtors have registered with the courts of law from Romania, is both useful and necessary before filling a debt recovery claim (...).
Dutch firms shift focus from cheap to skilled labor on local market
Please see the article here
Romania ocupa locul 5 in Europa la capacitatea eoliana instalata anul trecut
Romania ocupa locul 5 in Europa la capacitatea eoliana instalata anul trecut
Capacitatea instalata de energie eoliana in tara noastra a crescut cu 94% in 2012 fata de anul precedent, ceea ce situeaza Romania pe locul 5 in Europa in ceea ce priveste capacitatea instalata anul trecut. Anul trecut in Romania au fost instalati 923 MW, ceea ce reprezinta o crestere de 94% a capacitatii eoliene totale din tara noastra. Capacitatea cumulata de energie eoliana a Romaniei a atins 1905 MW la sfarsitul lui 2012, depasind estimarile ANRE precum si planul national de actiune pentru energia regenerabila (PNAER), se arata in Raportul „Energia eoliana si alte surse regenerabile de energie in Romania" - 2013, publicat de TPA Horwath Romania si casa se avocatura Schoenherr si Asociatii SCA. Romania a fost lider intre pietele emergente ale Europei in 2012 in ceea ce priveste puterea eoliana nou instalata situandu-se pe locul 5 in Europa, dupa Germania (2415 MW), Marea Britanie (1897 MW), Italia (1973 MW) si Spania (1122 MW). Analizand stadiul de dezvoltare a parcurilor eoliene in curs de finalizare, pentru 2013 se prognozeaza instalarea a aproximativ 617 MW suplimentari, estimandu-se ca Romania va reusi sa asigure din energia eoliana 8% din totalul consumului brut de energie al tarii. Din perspectiva legislatiei Uniunii Europene privind industria energiei regenerabile, Directiva 2009/28/CE referitoare la promovarea electricitatii produse din surse de energie regenerabile pe piata interna prevede un obiectiv obligatoriu de 20% pondere a E-SRE din consumul brut la nivel comunitar, care trebuie indeplinita pana in anul 2020. Romania are ca obiectiv national o pondere de 24% a E-SRE din consumul final brut de energie pana in anul 2020. Nevoia de energie pe termen lung a economiei Romaniei si a gospodariilor face ca industria energetica romaneasca, inclusiv energia regenerabila, sa fie o zona extrem de interesanta pentru implicarea de capital global pentru deceniul viitor. Tendinta crescatoare a investitiilor straine directe si de portofoliu in acest sector are loc in ciuda numeroaselor amenintari generate de instabilitatea legislativa, precum si a acelor limitari care sunt descrise in a treia editie a raportului "Energia eoliana si alte surse regenerabile de energie in Romania". Energia eoliana si alte surse de energii regenerabile pot deveni un element important al sistemului energetic romanesc. Acest lucru necesita mai mult sprijin pentru sector si mai ales dezvoltarea unui sistem de reglementare transparent, o conditie necesara din punctul de vedere al investitorilor. Se impune astfel asigurarea stabilitatii pe termen lung atat din punct de vedere juridic si al termenilor de reglementare, cat si din punct de vedere al solutionarii problemelor legate de racordarea la retea. Raportul reprezinta un instrument eficient de business intelligence pentru investitorii in domeniu, furnizand informatiile cheie despre sectorul energiei regenerabile din Romania, in contextul european, cat si mondial, atat din perspectiva legala si fiscala, cat si din cea a cadrului operational. TPA Horwath este una dintre cele mai mari companii de consultanta, contabilitate si servicii de audit din Austria si din Europa centrala si de sud-est. In total, Grupul TPA Horwath Group are aproximativ 1000 de angajati in 11 tari (Albania, Austria, Bulgaria, Croatia, Republica Ceha, Ungaria, Polonia, Romania, Serbia, Slovacia si Slovenia). Compania a intrat pe piata din Romania in 2007, iar echipa numara acum 6 parteneri si 85 de specialisti contabili, auditori, experti fiscali si consultanti juridici in biroul de la Bucuresti. Schoenherr a fost fondata in 1950 la Viena si s-a dezvoltat pentru a deveni o firma de avocatura corporate de top din Austria si Europa Centrala si de Est. Compania opereaza prin birourile localizate in Belgrad, Bratislava, Bruxelles, Bucuresti, Budapesta, Chisinau, Istanbul, Kiev, Liubliana, Praga, Sofia, Viena, Varsovia si Zagreb (birou in cooperare).
A top-five pharmaceuticals company assisted by law firm Ionescu si Sava obtained the annulment by th...
The Bucharest Court of Appeal annulled a 3 million Euro (15 million lei) claw back tax set for the second quarter of 2012, of a top-five pharmaceuticals company assisted by law firm Ionescu si Sava. According to the information provided by Cegedim, top-five pharmaceuticals companies in Romania are Sanofi, Hoffmann la Roche, Novartis, Servier and Pfizer.
Ionescu si Sava considers that the main reason for annulment is related to the fact that the VAT was included in the tax base on which the claw back tax was computed. “In fact, [in terms of the claw back tax] a tax is set on another tax, which the Constitutional Court found contrary to the provisions of the Constitution in February 2013. This represents a breach of the fundamental tax principle of setting the tax burden fairly”, says Radu Ionescu, Managing Partner of Ionescu si Sava. The team working on the case was led by attorneys Radu Ionescu, Managing Partner and Alina Toma, Senior Associate.
The claw back tax has been repeatedly challenged by drug manufacturers because it is considered to severely restrict the access of patients to appropriate and properly priced pharmaceutical treatment.
The annulment decision may be challenged before the High Court of Justice within 15 days from its communication to the involved parties.
IMF: We encourage the Government to continue effort for restructuring energy sector
The liberalisation of energy prices will improve available resources for investment at a national level, which, combined, will create more jobs, says Erik de Vrijer, the chief of the IMF mission for Romania, and John Ralyea, lead economist with the IMF team for Romania. ‘An important thing is that the reform will also generate a more equitable effect on Romanian society, since the restructuring of existing subsidies will release resources for the protection of vulnerable consumers. A realistic price setting will create incentives for energy producers so that they can invest and develop the local market’, they told Adevarul daily.
‘We commend the transparent roadmaps set by authorities, focussed on a gradual liberalisation of administered electricity and natural gas prices, including the finalisation of the deregulation of electricity prices for non-residential consumers by January 1, 2014 and for residential consumers by December 31, 2017. At the same time, natural gas prices for non-residential consumers will need to be liberalised by January 1, 2015 and for residential consumers by October 1, 2018. Meanwhile, we hail the intention of the authorities to improve social welfare programmes in order to mitigate the negative effects generated by the higher energy prices on Romanian households that cannot cope with them’, they further noted. The approach to the liberalisation of energy price in Romania is consistent with the successful policies pursued by other countries such as Brazil, a fact that was recognised in the recent IMF paper ‘Energy Subsidy Reform: Lessons and Implications’.
Roughly, the Government should step up effort to improve the performance of state-controlled energy producers and act in a more sustained manner to increase transparency and appoint professionals to boards of directors and managerial positions, avoiding appointments political criteria. The expansion of the private sector role in such companies could equally bring a notable contribution to fulfilling their potential.
‘We encourage the Government to continue effort to restructure the promising energy sector in Romania, resisting the temptation to return to money-wasting subsidies or state protection for inefficient producers. The reform of the energy sector, including price liberalisation combined with adequate protection for vulnerable consumers will enable the capitalisation on such resources for improving the living standard of all Romanian citizens’, IMF officials conclude.
NEW financing line for companies with 100% non-reimbursable grant - starting with 1st of July 2013
New financing line starting with 1st of July 2013 - with 100% co-financing.
The Ministry Of Finance is opening starting with 1st of July 2013 the call for poposals for THE MINIMIS projects – maximum 200.000 euro, 100% non-refundable.
We remind you of the main conditions for accessing this financing line:
- the applicants are SME-s registered according to Law. 31/1990
- have not received de minimis aid more than 200.000 euro over a 3 year period
- will create new workplaces by the end of the investment, at least 5 jobs for maximum of 100,000 euro grant OR at least 7 jobs, for a grant of between 100,000 to 200,000 euro
The grant covers 100% of the project budget – maximum 200.000 euro of the following costs:
- development or aquisition of new constructions for industrial purpose, for education, science, culture and art, health, social services, sports and recreation
- technological equipment and machinery
- equipment and systems of measurement, control and regulation
- industrial vehicles (unregistered) to support enterprise activity
- IT equipment
The total budget for this call is 400 million lei and funding allocation will be awarded on a first come first served basis within available budget.
VAPRO can help you develop a successful project!
Investment fund Catalyst takes over 30 percent of AvocatNet.ro
Investment fund Catalyst has acquired a 30 percent stake in the company that runs the website AvocatNet.ro, and will support the business development plans of the platform.
The value of the transaction was not made public. Negotiations lasted 6 months and AvocatNet.ro was assisted by the Ionescu Sava Law Firm during the acquisition process.
The first stage of the investment will be used to complete the platform www.superlege.ro, a service for processing law drafts and legal information which will be launched in July.
AvocatNet.ro has been present on the market for 12 years and registered for two months in a row 1 million unique visitors, according to SATI/BRAT data.
Catalyst Romania is managed by 3TS, the first private equity and venture capital fund partially financed by the European Investment Fund, specialized in financing SMEs. Catalyst is interested in investing in other IT or online projects on the Romanian market.
Focus on Agriculture - Business Review event
The development of the local farmland market following the 2014 land liberalization, the effects of reduced VAT on bread prices and what it takes for Romanian produce to reach the shelves of modern retail chains were the main topics discussed by participants in the third Focus on Agriculture event.
One of the main pieces of agribusiness-related news this summer will be the VAT cut for bread products, which could come into effect in July.
The government’s plan to reduce the sales tax on bread from 24 to 9 percent is an entirely political measure meant to reduce the burden on Romanian consumers, said Alex Jurconi, president of the Pro Agro federation, at the third Focus on Agriculture event, organized by Business Review on 27 May. He added that the measure will not lead to reduced prices, at least not at the producers’ level.
Mihai Berca, manager of seeds supplier Probstdorfer, also argued that the measure will have no benefits for suppliers and producers, unlike other measures such as the reversed taxation scheme.
While the VAT cut could reduce tax evasion, Jurconi was not confident the government would come up with the necessary money to make up for the losses to the state budget caused by the tax cut on the short term.
The authorities have estimated that these could reach RON 250 million (approximately EUR 56 million). The actual losses generated by tax evasion in various sectors of agribusiness are much higher than this, added Jurconi, stressing that over the past few years there has been no political will to fight this phenomenon effectively.
Another topic that has provoked intense debate of late is farmland market liberalization from 2014 and the resulting concerns over potentially massive acquisitions by foreigners.
Victor Ciuperca, area manager at amb Holding GmbH and the event’s moderator, pointed out that the discourse on the matter often slips into populism, given that about 3 million hectares of the country’s 9 million hectares of arable surface are currently lying fallow and investments in land acquisitions are hindered by land fragmentation and legal issues related to land ownership.
Moreover, foreign citizens are already able to buy farmland in Romania through locally registered companies, pointed out Cristian Popescu, managing associate at Popovici Nitu & Asociatii.
Nevertheless, be it locals or foreigners, farmers and investor are increasingly interested in buying farmland and banks are picking up on this, said Dan Bota, head of the retail business unit and network at Intesa Sanpaolo Bank Romania.
Participants also discussed the matter of reduced productivity resulting from the lack of integrated production chains, a problem with which Romanian agriculture has been struggling for years without much improvement.
Camelia Sucu, owner of Piata de Gros Abundia, a wholesale market for agricultural products in Bucharest, said that during talks with farmers the most often cited problem is the lack of collection centers for produce such as vegetables and fruit. Yet more than the actual spaces, farmers lack access to knowhow. “Small Romanian farmers don’t know what to produce, or in what quantities, and often lack the proper inputs and technologies,” she commented. They themselves also lack the logistics and knowhow required to sell their produce, which leaves them at the mercy of intermediaries.
Producers’ associations would solve much of this and would allow farmers to deal only with what they are good at, meaning the actual production.
However, little progress has been made over the past 20 years in setting up such associations and it is unlikely this will happen overnight, the entrepreneur added.
Mistrust in the concept of association is perhaps the main barrier but this can be overcome by the power of good examples, added Sucu.
Better integrated production chains would also mean that local farmers were able to meet the requirements of retailers and could sell their produce in local hypermarkets and supermarkets.
Florin Capatana, corporate affairs and quality director at Carrefour Romania, said that his company has very strict quality standards which it imposes on its suppliers.
The process of selecting suppliers for the company’s private label products takes time – about six months on average to launch such products – and is very thorough.
Things have improved over the past years and about 90 percent of the private label products Carrefour sells locally come from Romanian suppliers, Capatana said.
He added that the retailer tries to find local alternatives to importing whenever possible, especially when it comes to fruit and vegetables. Yet, this is not always easy. Last year Carrefour imported some 3.8 million tons of apples and sourced 2.3 million tons locally.
However, progress has been reported in other directions. Alongside other retailers, Carrefour has recently signed a partnership with Bio Romania, the association of Romanian organic farmers, to put about 50 of its products on the company’s shelves, Marian Cioceanu, the association’s president, disclosed. (Simona Bazavan - Business Review)
NRCC members improved their business pitches
On the 14th of May communications specialist Anna Heijker delivered the training ‘Pitch your business in 60 seconds’ for members of the NRCC. From the first moment the nineteen participants were up on their feet to develop their professional networking skills. Anna challenged the participants to think about their businesses on another level and provided tools for creating a strong elevator pitch. With these tools the participants crafted and practiced pitches for their own businesses. Reactions after the training were: ‘I learned how to structure my pitch and tell my story in a more interesting way’, ‘it made me think about my business strategy’ and ‘I improved my skills in presenting my business and increased my self-confidence.
HOW DOES LAW 72/2013 CHANGE THE AGREEMENTS BETWEEN PROFESSIONALS? FASTER DEBT COLLECTION.
The creditor has the right to recover all expenses made for debt recovery.
NRCC members elected new Board of Directors
The members of the Netherlands-Romanian Chamber of Commerce (NRCC) have elected a new Board of Directors during the General Assembly meeting held on the 10th April 2013. Following the elections, the Board of Directors elected Mr. Peter de Ruiter (Partner, Tax and Legal Services Leader at PwC Romania) as the President of the NRCC, Ms. Irina Zugravu, Managing Partner at VAPRO Romania, as NRCC Vice-president, Mr. Jan Glas, Managing Partner at TPA Horwath, as NRCC Treasurer and Mr. Isfahan Doekhie, CEO at Management Service BLISS, as NRCC Secretary.
The other members of the Board are:
Martin de Jong
Director at Friesian SRL / Interfarms Romania
Joep de Roo
Robin van Rozen
Country Manager Philips Romania SRL
Commercial Leader Consumer Lifestyle CEE – District South
Managing Director at Maastricht School of Management Romania
Herman Jan Wierenga
Managing Director Central & Eastern Europe, ORTEC
The Netherlands calls for greater protections for freedom of expression
The Netherlands calls for greater protections for freedom of expression
‘Freedom of expression and media freedom are fundamental human rights, not only for journalists but also for society itself. They enable people to form their opinions in freedom and participate in the public debate. A democratic society cannot exist without freedom of the press.’ Foreign minister Frans Timmermans spoke these words on the occasion of World Press Freedom Day, established by the United Nations in 1993 to promote and raise awareness of press freedom around the world.
The Netherlands is head of the Freedom Online Coalition, a body it founded in December 2011. The Coalition is a cross-regional partnership of 19 countries, including the US, Sweden, Costa Rica and Kenya, which seeks to promote online freedom so that the internet remains free and accessible for everyone. From 16 to 18 June Mr Timmermans will take part in the third Freedom Online Conference. The conference will be held in Tunisia, a country where the internet played a crucial role in the transition to a more democratic society. The minister characterised the conference as a good opportunity to spotlight the issue of internet freedom in the region as a whole.
In many countries, violations of press freedom are a daily occurrence. Since the start of the conflict in Syria, 47 journalists have been killed while trying to report on the situation there. Journalists in Somalia, a country where Islamist militias operate, risk their lives every day to document events in that part of the world. In the past six years, 11 journalists from the independent Radio Shabelle have been killed. Unfortunately, this is a global trend; over the past year, a record number of journalists, bloggers, cyber activists and other people working in media were killed, imprisoned or assaulted for what they wrote or said. Mr. Timmermans warned that the culture of fear this creates has far-reaching consequences for the freedom of expression.
New Corporate identity and website RESG
Real Estate Service Group has launched their new corporate identity. Please check out our new website.
Real Estate Service Group
is a Full-Service Property and Facility Management Provider assisting property owners to optimize and maximize the exploitation of: Office buildings, Residential complexes, Retail parks, Commercial spaces, Hotels & Restaurants, Industrial parks, individual villas and apartments.
Check out our new homepage www.resg.ro
You can also find us on Facebook. www.facebook.com/resg.ro
Are you on Twitter? We are! www.twitter.com/resgcontact
Fourth National Flower Arrangement Contest
Fourth National Flower Arrangement Contest
Considering the success of the previous editions, the Embassy of the Kingdom of the Netherlands organised the fourth National Flower Arrangement Contest.
The contest took place in Bucharest, Metropolis Center, Loft Lounge, on April 25 - in the week preceding the National Day of the Netherlands, and took advantage of the presence of the famous Dutch master florist Jaap Wisse. This specialist chaired the jury, performed a flower arrangement demonstration, and accepted to do a workshop for professionals who wished to learn innovative flower arrangement techniques.
Over 50 participants registered for the contest. Sanda Raluca Suciu from Oradea was the winner of the big prize and Zamfira Oltean and Filomena Raluca Brisc were the second and third place winners.
Pilkington-Ratiu Business School & Maastricht School of Management Romania merge to create the most ...
Pilkington-Ratiu Business School and Maastricht School of Management merge and lay the foundation for the most relevant business school in the local and regional business environment. The newly established school is created for key-managers in multinationals and Romanian entrepreneurs who wish to change for the better the context in which they operate, through their efforts and their businesses.
The newly formed school is first and foremost unique through its faculty. These are either managers and entrepreneurs, who lead businesses in Central and Eastern Europe, or professors from renowned business school, such as Harvard and INSEAD. They will combine the necessary information for having a comprehensive understanding of a business with case studies especially developed for the school`s curricula and specific to an emerging economy.
Dora Surugiu, Managing Director: “We wish to produce an MBA program that will distinguish itself, not only by having an international approach and a diversified faculty, but by how relevant it is for Romania and what we, as a country, hope to achieve to in future”.
Secondly, the new business school offers its participants the necessary tools for self-development and soft skills actualization, which transforms the students into excellent professionals and better people. The MSM – Ratiu School places at the core of its values, the individual, to whom it offers the necessary educational framework and network to become an exceptional manager and person.
Sergiu Negut, Associate Dean for Entrepreneurial Growth: “We are interested in the knowledge and skills that would help our students bring a change in their environment, by becoming professional business men as well as better people. They are the change agents who will deliver the transition between present-day Romania and tomorrow`s Romania, as we imagine it. We intend to create an MBA with our rolled-up sleeves, which will tackle all the challenges that the local and regional business environments faces”.
Thirdly, MSM-Ratiu is the school of those who are motivated to understand all the aspects of the business they are managing, and who wish to build not only a profitable business, but also a responsible business.
Adrian Stanciu, Associate Dean for Knowledge and Leadership: I believe that a school should not offer recipes, but the required thinking models and tools to its students, so that they may acquire a broader and more holistic perspective on business leadership. The management book of our century has yet to be written. It will most certainly be written by the managers of the future and perhaps, MSM-Ratiu alumni”.
Maastricht School of Management Romania and Pilkington-Ratiu Business School have decided to merge owing to their shared vision of creating a relevant business school, where Romanian entrepreneurs and executives are the agents of change for the business environment and community, whose impact will endure in time and transcend their immediate surroundings.
Nicolae Ratiu, Associated Founder: “The new business school will offer what no other school in Romania can offer at the present moment. We will thus create the best business school in Romania. That is our objective and that is what we will accomplish”.
The Ratiu family`s interest in developing an entrepreneurial and democratic society together with the managerial vision of Maastricht School of Management Romania has led to the creation of this business school which prepares managers and entrepreneurs for today realities, as well as for the upcoming 10-20 years.
President of the Dutch Senate Fred de Graaf in Romania
Fred de Graaf, President of the Dutch Senate met State Secretary for European Affairs George Ciamba on 22 February. The talks between the two officials focused on bilateral relations and cooperation between the two countries within the EU, including consultation at parliamentary level concerning the prospect of Romania’s accession to the Schengen Area.
On February 23, Fred de Graaf met the head of the European Affairs, International Relations and Schengen Department chief quaestor Marian Tutilescu. During their meeting at the Operational Command Centre of Border Police, the Romanian party presented the actions taken by the national authorities in view of securing the external border of the European Union.
At the end of the meeting, the president of the Dutch Senate Fred de Graaf expressed his appreciation for the Romanian Police activity, as well as for the efforts made by the Romanian Ministry of Internal Affairs with a view to Romania’s Schengen accession.
Official talks between Romanian Minister of Foreign Affairs Titus Corlăţean and Dutch Mini...
“Economic relations between the Netherlands and Romania are already close, but we can benefit from them even more by promoting trade and cooperating in areas such as agriculture”, said Minister of Foreign Affairs Frans Timmermans during a meeting with his Romanian counterpart Titus Corlăţean in The Hague.
Economic ties between the Netherlands and Romania have strengthened significantly in recent years. More than 4,000 Dutch companies currently do business in Romania. In 2011, Dutch exports to Romania amounted to approximately €1.6 billion, while imports from Romania amounted to approximately €1.2 billion. Dutch investments in Romania total around €7 billion.
The ministers also discussed the recent Cooperation and Veri fication Mechanism Report, part of a series published every six months by the Commission. In the report, the Commission addresses developments in Romania in relation to the rule of law and the fight against corruption. “It’s important that the CVM exists and that Romania makes good use of it”, said Mr Timmermans. “In the coming weeks we will be discussing the consequences of the latest report in Brussels.”
An interview with Dora Surugiu
An interview with the Board: Dora Surugiu
Dear Dora, The Maastricht School of Management is a relatively well-known brand. Still, many people do not know you personally yet. Can you tell us a bit more about yourself?
Dora: In general I do not like much talking about me, I rather prefer doing then talking, never liked being in the spotlight. I consider myself a very lucky person: I am doing what I like and my job is more then a job, I get to meet very interesting, bright and intelligent people and together I am confident we shall change the world sooner then later.
During economically difficult times, companies cut most costs on education / training. How is MSM affected? And what is the MSM answer?
This trend did not affect us in any way and this is due to the fact that we are not addressing companies, as the primary market, but we are addressing and responding to the self-development needs of individuals. The average percentage of self-financed participants in our MBA program is 80%. We do have also corporate agreements and in general we are trying to offer a package of services and benefits to those companies financing their employees in the program: recruiting opportunities, case studies, project based consultancy services, trainings etc.
It is said that any investment in education is an investment on the long term, in the future of Romania. Do you agree and/or is this also your dream?
This is also one of our drivers and motivation in doing what we are doing: creating change agents, people who aspire to accomplish a greater good not just to reach his/her individual well being. Our investment in education has in mind a brighter future for Romania, and is it in our power to change something; we are the only ones responsible for drawing our future.
The Maastricht School of Management Romania is not just a member of the NRCC, you are a partner. What does this partnership contain? Who else should become partner?
It is true, we have tried to develop a partnership true which we give access to all NRCC’s members to what we no to do best: sharing knowledge, so we are practically encouraging the transfer and circulation of information and knowledge by facilitating workshops and trainings, using some of our international professors. I think that anyone can be a partner and I do encourage more members to approach us and become partners in the Knowledge Centers, sharing best practices etc.
You are a board member, so you can influence the direction of the Chamber. In order to better serve the interests of our members, what should the Chamber do differently in your opinion? Should we grow in size, quality, diversity, or anything else?
This is one of the important topics for me, and we have spent some time discussing this in our Board Meetings. Having a growing network of partners is a future desired by all Chambers. Personally I think that once we have reached a certain number of memberships, the interaction, the networking, the business opportunities and synergies created between the members become more important and start making all the difference between one Chamber and another. It was already agreed, and I hope to have the opportunity to get involved in the future as well, that we should cater more to the needs of our members by creating opportunities that will generate added value.
It can work in both directions. What do you believe our members can do to get more value for their membership?
This is very simple and we need always to underline it to our members: “GET INVOLVED”, be active and most importantly: communicate with us. We, the Board of Directors are here to serve and better represent you. In order to do that we need to work together. Very soon you will receive our Annual Survey, so please take 5 to 10 minutes of your time in filling in the survey, and we thank you in advance for your input.
You are working in education, should education be a priority in the NRCC? If yes, how?
It is not yet on the NRCC agenda as a main focus area though we should definitely talk about it. Yes, I do think that education should be a priority for NRCC, because it is a vital subject for Romania and for the Romanian society. Immediate and drastic reforms of the education system are required, and the civil society is starting to be more and more active in this direction. Through education we create tomorrow’s leading generations and we can generate change, education should be based on values and principles.
Last but not least, do you have any message for our members?
I wish all our members a great a memorable year! And I am looking forward having them as partners in more and more activities under the NRCC umbrella and not only, and hope to see and get to know as many of them as possible in our up-coming events.
An interview with Irina Zugravu
An interview with the Board: Irina Zugravu
1. NRCC: Dear Irina, thank you for your time to give us this interview. You and VAPRO are well-known and very much appreciated in Romania and especially in our Chamber. Still, may I ask you to introduce yourself shortly?
I have a Bachelor’s Degree in Administrative Science at The Faculty of Economics and Business Administration at "Al I Cuza" University and a Master’s Graduate in Economical Engineering (both in Iasi), specialization in labour law, accredited project manager and trainer.
My professional experience started after I graduated my faculty in 2004, with an HR related job in a UK company based in Iasi where I have gained a lot of experience in personnel and HR development, but also sales and production related issues. Working directly with the UK management was, most of all, a real opportunity for me to broaden my views. Since 2007 I am actively involved in managing VAPRO Romania, which is a consultancy company and part of the Dutch group VAPRO International. We are a team of young and dynamic consultants specialized in European funding and other kind of non-reimbursable grants for companies. We have more than 20 years experience in The Netherlands and already 5 years experience in Romania, with great achievements.
2. You are now a board member within the Chamber. What made you apply for a Board Membership?
Actually it was “the advice” of my director from The Netherlands - Theo Seip. I was quite an active member of the Chamber in the past years, so I didn’t think of applying for a formal role. Besides this, the advert you sent out, encouraging more Romanian and female members in the Board, also caught my interest. In the end I think it was a good decision (could it be that the boss is always right?)
3. What changed for you since you became a Board Member? What is the most exciting part? What is your main contribution?
I enjoy the most the monthly meetings with the other Board members. I believe it is an interesting mix of people: some with a lot of experience, others a bit younger in business, corporatists and entrepreneurs, Romanian and Dutch, coming from different sectors of activity. There are 4 new board members (out of 9) which makes things less predictable. This can only bring fresh ideas and different perspectives of different issues addressed, while remaining focused. I think we have some good new projects running which are very interesting for our members.
4. You are a specialist in EU and other funds. You have many successes in this field. What is the current state of affairs regarding EU funds? Would you recommend everybody to go for funds? If not, who should go for it and who not?
First of all I want to break down the myth that a project cannot receive EU funds without corruption or offering bribery. The more than 100 clients we have are a real proof that the system is working based on clear and transparent rules and quality criteria. There are always correct options.
Second, we are an optimistic consultancy company in this field. I would recommend to all the healthy organizations, interested in strengthening or expanding the business, to go for funds. We have a lot of success stories, especially companies for whom we made good projects, which already spent the money and now they are at the 2nd or 3rd project. The majority of these companies are foreign and not Romanian (I would like to have more Romanian companies in our portfolio along with more Dutch, of course!), big and medium rather than small. It has to do with the vision on business, taking the opportunity but also taking some risks and last but not least, a good analysis on the cost-benefit ratio – which in my opinion when we talk about EU funds has always to be positive.
5. I heard that funds should be seen as an extra “incentive” for an existing business. No business should depend on funds. What do you think about this statement?
I would say this statement is applicable to companies mainly. Still, there are funds for start-ups, to put a new business idea into practice, or companies that use funds to expand their existing business (which could have not been done without the EU money).
NGO-s are another example. Their activity could depend on funds and they can actually “live” with EU money, as long as they make realistic budgets and do not go for more than they can actually spend and co-finance. In any situation, whoever takes EU money should have in mind (at least) 2 aspects: co-financing (any EU projects is asking for the applicant to have a part of the money themselves) and cash-flow issues (the payment of EU money is made based on costs already paid).
6. What can members of the Chamber do together (maybe even together with the NRCC) in order to attract funding?
If members have already experience with financed projects, I would recommend them to share their experience with other members and recommend the good consultants with whom they worked. Romania has the right to spend this money for the first time and, as strange as this may sound, we are not that good at spending 30 billion Euros. For the ones interested in obtaining EU money, I would advise them to express their interest to the Chamber. This way, the Chamber can bring at the table good and experienced experts on different topics, which can make the applicants’ life much easier in relation with the Financing Authorities while maximizing the impact of the funds in their business.
7. For sure many companies are looking into financing / funding of projects. How do they find partners? How can NRCC members find out about companies looking for partners like them? Can the NRCC play a role here?
Again, from our experience, the best partner in an EU project is the one you already know or you have done business with in the past. Regarding other partners, I would always look for trustworthy and good quality partners, why not recommended by the Chamber or by other Chambers, via the NRCC. It is not easy to run an EU project even with your own internal resources, so when it comes to partnership projects then you have to be sure that you speak the same language with your partners. Members should not hesitate to contact the Chamber or directly us, if they look for partners for projects.
8. Back to the Chamber: what should the Chamber do different in your opinion? How can the Chamber attract more members? How can the Chamber become more visible? What else should be done?
Of course quantity is important, but quality is even more important. Our members are good and trustable companies, with a sound background in their sector of activity. Most of them are doing business with other members, which strengthens our Dutch-Romanian community. I have a strong belief within my company: a happy client will bring more clients than your sales team. So I would focus on making our members “happy”, by doing interesting and valuable projects for them, and continue with a good promotion of that. To end in a funny note and because I have quite a strong competitive spirit, let’s outgrow the German chamber!!
9. Last but not least: what is your message to our members?
I really like the statement we have on our banners “when you walk alone you go fast, when you walk together you go far” and that should be the essence of our activity as Chamber. Of course, many companies are doing just fine, with or without being a member of our Chamber, but each one of them can bring added value to the whole Dutch business community in Romania. It is important to have a common approach and a stronger voice in relation with Romanian public authorities, other business partners, other foreign investor’s communities and why not, having also some fun while doing it. So my message to our members would be: bring more members in!
An interview with Isfahan Doekhie
An interview with the Board: Isfahan Doekhie - May 2012
Isfahan, I can hardly imagine that there are members who don’t know you. Still, please introduce yourself.
I’m Isfahan, I’m 46 years old. I’m born in Surinam, raised and educated in The Netherlands. I’m now 9 years in Romania. I used to play a lot of sports, especially football and cricket. Together with my girlfriend Violetta, I run a real estate brokerage and business consultancy company with which we also organise events and do match-making. This is now your 3rd year in the Board of Directors of the NRCC.
What are your main achievements? What is your major contribution to the NRCC and to the Board of Directors?
I’m a big supporter of networking as I do believe that lots of business comes out of that. Networking for me is with and between the members of the NRCC. Therefore, the NRCC has to stimulate the creation of networking opportunities. As one of my major achievements I brought a large amount of new members in the NRCC. I also largely contributed to the better communication between and towards the members. Within the Board of Directors, I contribute with a lot of fresh ideas (maybe sometimes too many) and I energise the Board’s meetings and activities. I always look ahead and have a sharp nose for opportunities everywhere, and that is where most of my ideas come from.
What is the most exciting part of being a NRCC Board Member? What motivates you most?
I take it very serious that I represent the Dutch business community. I consider it very satisfying and rewarding to be able to contribute to a better position of the Dutch Business Community in Romania. In my role as Board Member, I have the opportunity to brainstorm together with the other Board Members and contribute to the activities the NRCC organises.
Besides being a Board Member, you are also a well known and visible entrepreneur in Romania. How did Romania change in the last 10 years? Are the business opportunities still the same now?
10 years ago, Romania was very relaxed, very much focused on relationships and building new relationships. People were more open to do business together and to try out new things, businesses, partnerships. Over the past years, the business environment became harder, without necessarily becoming more professional. All things are only money oriented now. For me, it became much more difficult to trust people.
In my industry – real estate – the business opportunities have changed a lot, especially in the last years, due to the crisis. The “fast and cool guys” have disappeared, the opportunists are in other industries now. This means that there are more opportunities per serious supplier available now. We sign more contracts nowadays. I don’t know whether there are more opportunities, I think it is more that opportunities became more accessible. There are less players in the market. There is also less demand, but the number of agents reduced a lot. I also see a raise in quality in the market; business requests have became much more specific and demanding. People have much more experience and know better what to ask for. I believe this is a good development.
I know that advocacy is a subject close to your heart. What is your main message and what is it that you would like to achieve?
Doing business in a transparent and honest way is what I believe is essential for the growth of the economy in Romania. The current bad image of Romania is mostly due to corruption and the lack of implementing the “rule of law”. This keeps investors away.
If the corruption in Romania will not be solved, then Romania will never become a major player in Europe, it will remain the “Wild East”.
You are also Board Member of our sister-organisation Nederland.ro, the social Dutch association in Romania. What will the NRCC members remark about this double function? Will it create cross-fertilisation?
For me the two associations are independent and will always be. Of course I am involved in both and I hope that more sharing will take place and for sure better communication between the two associations. I hope also for joint activities. For example a wine-tasting can take place jointly. We do already share the Dutch Networking Drink and I believe more activities can be done together.
I would like that the two associations also promote each other. Nederland.ro is not only Sinterklaas and Queen’s Day. Members of Nederland.ro should also be informed about knowledge centres and other interesting events organised by NRCC.
The main reason why I became Board Member in Nederland.ro was that that association was nearly dying and I didn’t want to let that happen. I believe it has a strong reason of existence.
A major challenge for the NRCC is to keep our members active and close to us. Maybe this applies even for both the organisations... How do you think this can be achieved in the most effective way?
First of all regular and clear communication. This means that we need to know from our members what is coming up. If possible already one month in advance. I’m a strong defender of a very interactive and often updated website as main communication channel, where everybody can announce updates, even on a daily basis. New members, upcoming events, latest news, business contacts, business requests, it all should be there. Even the Dutch Embassy should be able to update on that website. Who is going to run this? I don’t know yet.
Last but not least: do you have a special message for our members?
Communicate, share, benefit from your membership. We offer a lot. There is much more value in your membership than many people know.
And last but not least, try out doing more business between members!
An interview with Jan Glas
An interview with the Board: Jan Glas
Although you may be well-known among many Dutch individuals, we still would like to ask you to introduce yourself to all our members.
I am a 44 year young Belgian, I grew up in Bruges, studied business economics in Brussels, and have been living and working in Romania since 1997. Professionally, I am a partner at TPA Horwath, an accounting and audit firm present in most of the countries in Central and Eastern Europe. Our Bucharest office has about 85 employees.
How is it to be Flemish in a Dutch Chamber?
The Dutch normally are of the welcoming sort, and the Dutch chamber is not different from that. Anyways, for ‘a Belgian’ it is pretty easy to be accepted by the Dutch, probably easier than the other way around… Anyways, I have been active in the Dutch community from my first arrival in this country (I was involved in the initiative of the first Oranje Ball, and the ‘Borrel van de lage landen’ drinks), and my involvement as board member of NRCC is a normal confirmation of my wish to contribute to the development of this community. Even if there are cultural differences, the language we share, makes it natural for Dutch and Flemish people to interact, somehow similar to what Romanians and Moldovans experience.
You came in Romania when the country was full of opportunities. Are there still opportunities now, or are there less?
There is no comparison possible between Romania in 1997 and now, but the one thing that remains wide open is the high level of opportunities, even in today’s difficult economic times. Of course we see a different profile of investors these days, and since Romania joined the EU and became a NATO member, it is less of an opportunistic market to come to. Today, Romania is a market for long term investors, looking for a significant EU market potential, not anymore for the short-term ‘low-labour cost only’ investment. I remain very positive about the long-term future of this country. I stick with my quote: the chances for development of an 18 years young ambitious person are higher in Romania than in the Netherlands.
What do you consider the big challenges for Romania in the next 20 years?
The obvious topics mentioned everywhere are the need for better infrastructure, and the continued fight against corruption or bureaucracy. I would like to add 2 other focus points: the demographic evolution, and the rural sector. When I first arrived in Romania, in 1997, the country had 23 Million citizens. 15 years later its population has decreased to 19 Million. This dramatic declining trend is continuing, and will lead to a structural problem in the next period. The need for an active immigration strategy for Romania (bringing in and integrating people from other countries) is not on the agenda yet, but will be soon. My 2nd focus is on the rural sector. Today, we still have 5 million citizens hidden in a non-performing rural environment. The big majority of these people have no future in the agricultural sector, but are also not available for the industry or other sectors. An active strategy aiming at turning the rural citizens into an active segment of the population is one of the biggest challenges for Romania in the near future.
As you are not Dutch, you may have a more neutral point of view. What is in your opinion the big differentiator of the NRCC?
The NRCC is an initiative of the private sector. 5 years ago, 10 Dutch companies in Romania created it, and all board members continue to be individuals working for high profile companies or with a strong personal business connection. Contrary to some other bilateral chambers, it is not a State initiative or state funded, and consequently is purely built on the efforts, in time and financially, of individuals and companies. Those individuals and companies form the strength of the NRCC: we have a very high quality in the list of members, strong individuals are involved in organising events, and there is space given to new initiatives. It is also positive that we try and have new members elected in the board each year, as it really assures new energy and ideas. NRCC is very direct as an organisation, there are opportunities for each member to get involved. Our firm is a member in several bilateral chambers, and I can say that the NRCC clearly is the one chamber where most chances are given to the members to be actively involved.
How do you think that the NRCC can add more value to its members?
When I look back at the last year, I feel that one element where NRCC changed significantly, is its communication. The structured way in which events are announced, the membership survey, the monthly newsletter, and the upcoming NRCC membership book, are all very important and new initiatives. Now that NRCC also organises the monthly networking drink, we have a very strong communication platform for our members. Each of the NRCC members with an idea, question or ambition, has the opportunity to express it, and will be heard. The more members get actively involved in NRCC events, the more value they will find in the organisation.
You are also a performing sportsman. Do you see that sport is taken seriously in Romania?
Practicing sports as a lifestyle or part of a healthy life for the individual has a long way to go in Romania. As a passionate cyclist, it is strange to come from cycling-crazy Holland (or Flanders), and to see that Romania does not even realise what an incredible potential it has for such a sport. But also here, I see a positive trend. Cycling lanes start to appear in the cities, mountain bike tours/races are being organised each weekend, and overall more and more people are interested to take part in outdoor activities. The day that, in Bucharest, you will have to watch out more for bikes than for cars when crossing the street (the typical Amsterdam feeling), I will be one big smile. In the meantime I advice to continue to concentrate on the cars…
The NRCC is governed by a Board of Directors representing the Dutch business sector in Romania. Members of the Board are elected during the annual General Assembly.
As of 11 June 2014 the Board of Directors exists of the following members:
(See below the interviews with our Board of directors members)
Bas van Hesse - NRCC President
Director, Fokker Engineering Romania
Irina Zugravu – NRCC Vice President
Managing Partner, VAPRO Romania
Jan Glas – NRCC Treasurer
Managing Partner, TPA Horwath
Isfahan Doekhie – NRCC Secretary
CEO, Management Service BLISS
Director, Wolters Kluwer
Managing Director Central & Eastern Europe, ORTEC
Jan Willem Kivits
Managing Director, FrieslandCampina Romania
Chief Risk Officer, ING Romania
The NRCC executive team:
INTERVIEWS with the members of the board:
Sebastiaan (Bas) van Hese