Legislative news in June 2013

LEGISLATIVE NEWS IN JUNE 2013

During June 2013 a series of laws relevant to the business environment in Romania were published in The Official Gazette of Romania, Part I.

I. Government Emergency Ordinance no. 80/2013 regarding judiciary stamp taxes was published in The Official Gazette of Romania, Part 1, no. 392 from June 29th 2013.

The act came to force on June 29th 2013.

Regarding the stamp tax applicable to the challenge to the enforcement, the tax shall be calculated at the value of the assets whose enforcement is challenged or at the value of the pursued debt, when the debt is smaller than the value of the pursued assets. The tax afferent to this claim can not surpass 1.000 RON, regardless of the contested value. In the event that the object of the enforcement is not monetized, the stamp tax for the challenge to the enforcement is 100 RON.

In the field of insolvency, legal actions, claims, objections and appeals lodged with courts of law under the provisions of Law no. 85/2006, as subsequently amended and republished, Emergency Ordinance no. 10/2004 regarding the bankruptcy of credit institutions and Law no. 503/2004 regarding the financial recovery, bankruptcy, dissolution and voluntary liquidation in insurance the tax stamp shall be 200 RON.

Regarding contravention matters, the tax stamp for both the complaint against the protocol for establishing and sanctioning contraventions and the appeal against the decision passed shall be 20 RON.

II. Government Emergency Ordinance no 50/2013 regarding the regulation of certain fiscal measures was published in The Official Gazette of Romania, Part I, no. 320, from June 3rd 2013.

The act came into force on June 3rd 2013.

Government Ordinance no. 92/2003 regarding the Fiscal Procedure Code, as subsequently amended and republished, was modified and supplemented as follows:

Article 120, paragraph (1) was modified and has the following content:

"(1) The interest represents the equivalent of the damage done to the holder of the fiscal debt, following the non-payment of pay obligations on term by the debtor, and shall be calculated for every day of the delay, beginning with the day immediately following the maturity date and until the date of extinction of the owed sum.”

On article 175, , paragraph (12) was inserted after paragraph (11), having the following content:

“(12) The provisions of paragraph (1) are applicable to persons who become debtors in accordance with article 25 paragraph (2) letter d). In this event, by exception to the provisions of paragraph (1), the immobile assets offered for extinction, through equivalent payment, must not be subdued to enforcement or encumbered by other incidents, with the exception of mortgages that are constituted in accordance with article 25.”

Article 175, paragraph (5) was modified and has the following content:

"(5) Immobile assets belonging to public property in accordance with paragraph (1) are given for administration in accordance with the applicable legal conditions, on the condition of maintaining, for a period of 5 years, of the public use and interest. Until the act through which the assets are given for administration comes into force, the immobile asset shall be in the custody of the institution that requested the taking for administration. The institution that has the asset in custody has the obligation to catalogue it, in accordance with the law.”

III. Government Emergency Ordinance no. 55/2013 regarding certain fiscal-budgetary measures and the modification of certain laws was published in The Official Gazette of Romania, Part I, no 331, from June 6th 2013.

The act came into force on June 6th 2013.

The Government Emergency Ordinance no. 93/2012 regarding the establishment, organization and functioning of the Financial Supervision Authority, published in The Official Gazette of Romania, Part I, no. 874 from December 21st 2012, approved and amended through Law no. 113/2013, is modified and shall have the following content:

Article 19, paragraph (2) was modified and has the following content:

“(2) F.S.A. transfers a share of 80% of the income and expenses budget surplus registered at the end of the year, to the state budget, until the term established for depositing the annual financial situation.”

Law no. 95/2006 regarding health reform was modified as follows:

Article 1833 paragraph (1), letter o) was modified and has the following content:

“o) in the event that residual payments that are older than the maturity date of the payment exist for a period of 3 consecutive months, in accordance with the contractual or legal obligations.”

Furthermore, according to the provisions of G.E.O. 55/2013, by derogating from the provisions of art. 43 of Law no. 571/2013 of the Fiscal Code, the income tax rate shall be 85% for the incomes representing wages/compensations/compensatory amounts granted, in accordance with the law, in the event of the cease of a labor contract, employment relationship or the mandate of employees holding management positions or persons that are appointed members of boards of directors.