Legislative News in May 2013

LEGISLATIVE NEWS IN MAY 2013

Important legal regulations pertaining to the business environment in Romania were published in the Official Gazette, Part I, during the month of MAY 2013, such as:

1. The Law no. 165/2013 on measures to complete the restitution in kind or by equivalent of buildings confiscated during the communist regime in Romania was published in the Official Gazette, Part I, no. 278, of May 17, 2013.

The act came into force on 20 May 2013.

The law provides the procedure of restitution of the immovable properties abusively taken over by the state during the communist regime.

The restitution process for the immovable properties abusively taken over during the communist regime is governed by the following principles: the prevalence of the restitution in kind; equity; transparency; fair equilibrium between the private and general interest. For the cases in wchich the restituion in kind it is not possible, the law provides the procedure for granting compensatory measures.

2. Government Decision no. 274/2013 on de minimis aid for investments made by small and medium enterprises was published in the Official Gazette, Part I, no. 305 of 28 May 2013.

The act came into force on 28 May 2013

The decision states the conditions needed for granting the small and medium enterprises the minimis aid and the procedure that has to be accomplished for obtaining these benefits.

3. Order no. 467/2013 of the National Agency for Fiscal Administration on the conditions and procedure for suspending the tax audit was published in the Official Gazette, Part I, no. 254 of 8 May 2013.

The act came into force on 8 May 2013

This order specifies the conditions under which tax audit can be suspended, as well as the deadlines for the resumption of the tax audit in each of the specific cases stipulated.

4.The Law no. 149/2013 for approving of the Government Ordinance no. 23/2012 for amending and supplementing the Government Emergency Ordinance no. 90/2008 on statutar audit of annual financial situations and the consolidated financial situations and the Government Ordinance no. 65/1994 on the organization of accounting exprtise activity and of the certified accountants and for amending other acts was published in the Official Gazette, Part I, no. 257, of May 9, 2013.

The act came into force on 12 May 2013

The law provides the modifications made to a series of acts from financial-accounting field.