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deCosmin Galu January 23, 2008

The country of “it is impossible”

Have you ever been in the country of it is impossible?

If you have never been, let me tell you something from my last journey’s diary in the country of it is impossible. My story starts with my entry into this country.

After a long but pleasant journey I have arrived to the country’s borders. I passed the check point for identity cards and asked a frontier policeman: From where can I buy a travel license stamp? The policeman threw my passport in hurry and replied: From here it is impossible! Then he made me a sign to move on.

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The country of “it is impossible”

January 23, 2008Cosmin Galu

Have you ever been in the country of it is impossible?

If you have never been, let me tell you something from my last journey’s diary in the country of it is impossible. My story starts with my entry into this country.

After a long but pleasant journey I have arrived to the country’s borders. I passed the check point for identity cards and asked a frontier policeman: From where can I buy a travel license stamp? The policeman threw my passport in hurry and replied: From here it is impossible! Then he made me a sign to move on.


New fiscal stipulations for 2008

January 17, 2008Rainfall

2008 brought new changes regarding the taxes and duties. The latest news in the Fiscal Code refers to VAT, the income tax and excises.

VAT: The reversed taxation procedure for real estate transactions between legal entities persons, who pay VAT, was eliminated.

At the same time, the VAT exemption was eliminated for the following services: giving information and making reports for the insured persons, marketing and administrative services that derive from the insuring-reinsuring services, respectively the organization and the management of the IT system of the insurance companies.

Income tax: The limit regarding the non-taxable income from the pensions will increase, from 900 to 1000 lei.


Merchandise transportation in 2008. Directions and challenges

January 17, 2008Cosmin Galu

Romania’s joining to the EU in 2007 led to new challenges for the road transportation operators. The authorizations problem doesn’t exist any more, but problems related to the management of the transportation companies appeared. These companies must find rapidly solutions for keeping the labor force and for a more efficient activity, especially by developing the provided services.

The fact that, on the Romanian market already appeared important transportation companies from the neighboring countries, who are transferring trucks in Romania in order to use the Romanian labor force paid at national standards, has created numerous dysfunctions on the labor market in this domain.

However, the lack of any minimum conditions for registering in the Operator’s Transportation Registry, determined the increase of the small operators’ number, with one-two trucks.


Why using coaching?

January 16, 2008Rainfall

The idea of coaching has started to appear, even implementing in daily agitated companies’ lives, no matter if big, medium or small. There are different articles, TV shows, books debating even creating a media event on this theme. Indeed, it has a long time since is practiced and has good results “over the borders”. But human reticence makes us wonder: why coaching?

In actual fact this so-called reticence hides its dose of pragmatism: why choosing to invest enormous amounts of money in our employees? They really deserve this financial effort?


Ascent Group cooperates with Tonica Magazine

January 16, 2008Adela Cristea

Ascent Group started recently a cooperation with the prestigious magazine Tonica ( Starting with the next editions of the magazine the HR department consultants of Ascent Group will publish opinions on topics related to career, presentation and communication skills, time management, work relationship management, employee motivation and many others.

The cooperation with Tonica magazine is a confirmation of the quality of Ascent Group consultant’s opinions and we hope that our articles will be appreciated by the magazine’s readers.


IT specialists don’t need to pay the health insurance any longer

January 16, 2008Rainfall

According to a recent study of the National Health Insurance Institution, IT experts stop paying the contribution to the health insurance, the contribution being paid by the employer. However, the employees will have free medical services, on the basis of a certificate from the employer.

This stipulation is part of a series of fiscal facilities for developing the IT industry.

According to the same stipulation the certificate that proves the quality of insured person for all the employees, will be released for the future by the National Health Insurance and not by the employer, as it happens now.


The taxes and contributions to the consolidated general budget will be paid from now on into a unique account

January 14, 2008Rainfall

The National Agency of Fiscal Administration has decided that, starting with January the 1st 2008, taxes, contributions and other amounts owed by the tax payers to the general budget, are to be paid into a unique account.

The tax payers will use two payment orders for the State’s treasury, one for the obligations due to the state’s budget and the second, for the other obligations.

The amounts owed to the State’s budget will be paid into the unique account, and the fiscal debts to the social insurance budgets and to the special funds, into the unique account 55.02.

Every payment, for every tax, contribution and on other amounts owed to the general budget will be made distinctly.


BNR’s interest increase at 8% may also occur in February

January 11, 2008Rainfall

National Bank of Romania (BNR) recently took the decision of increasing the interest with 0.5% , thus reaching up to 8%. According to specialists, this decision will have reduced effects on short term, including on the currency. But a new 0.25% increase is expected in February.

The interest increase will not influence the currency appreciation, but it can influence its depreciation and shows that BNR has decided to take measures to reach its inflation target.


What do we expect from 2008?

December 14, 2007Adela Cristea

One more year just passed by, our first year as citizens of the European Union, and as in any moment of evaluation we look back and try to understand what brought us the year that just passed, but specially we look into the future and try to understand what changes the next year will bring us.

2007 was our first European year, a year with many changes but also with many confusions. Many reforms were started, but unfortunately many others were slowed down.


The Labor Market in 2008

December 13, 2007Rainfall

The changes that the companies policies related to salaries will undergo in 2008, not only will attract and retain the employees, but they will also increase their loyalty.

This all happens due to continuous expansion of the companies, the increased deficit of personnel, and the increased personnel fluctuation (in 2007, the voluntary personnel fluctuation increased to 21% compared to 15.9% in 2006).

It is estimated that, in case the level of inflation will continue to increase in 2008, the salaries will also rise up to 15%.

In 2008, the average values of salaries increases for top management positions will be between 10% and 15%, for executive positions up to 11%, while the salaries for unqualified positions will rise up to 25%, because of the increase of the minimum salary.

Besides these increases, employers become more and more inventive in granting benefices in order to keep their employees’ loyalty:


Trans-European railways corridors IV and IX – the main rehabilitation projects of the Romanian railways

December 13, 2007Rainfall

After joining the European Union the Romanian State is forced to invest in the development of the railways infrastructure, by creating high speed railways that would unite Greece to the rest of the Europe.

The two European railways corridors that cross Romania are corridor IV, which makes the connection between Germany and Greece, and corridor IX, between Finland and Greece, their total length being almost 10.000 km.

The rehabilitation of the 2.000 km of railway in Romania, which will be part of the European railway system, will require over 10 billion Euro of investment, the goal being to reach a speed of maximum 140km/h in the case of trains for passengers and to respect the UE safety standards.


500 lei – minimum salary in 2008

December 13, 2007Rainfall

After the meeting between the Trade Unions, Employers Unions and the representatives of the Government that took place on Monday, to which the Minister of Labor and Family Paul Pacuraru, and the Minister of Economy and Finances, Mr. Varujan Vosganian took part, it was decided that starting with January 2008 Romania will have a unique minimum salary.

Therefore, starting with January the 1st 2008, according to the Government’s decision, the value of the minimum salary will be 500 lei. In case that the main indicators on which the State’s budget is built, respectively the Gross National Product, the inflation, and the level of the labor’s productivity are fulfilled, starting with July 2008 the minimum salary, at a national level, will be 540 lei.

Trade Unions and Employers Unions agreed to continue the negotiations regarding the additional act to the national collective labor agreement, for establishing the salary levels.


Moldova: Fiscal Innovations in 2008

December 13, 2007Lia Bejenaru

2008 promises to be a year full of surprises and innovations in the fiscal domain, at least this is what the Ministries of Economy and Finance that thought of a true economic revolution, promise us. Everything started since 2007, when the Government canceled all the company’s fiscal debts until January the 1st 2007, thus beginning a new stage, which, they hope it will be more productive. This Reform is called “Fiscal Amnesty”, and its main purpose is to help and promote the companies that cannot function normally because of the debts to the State’s budget. The purpose is to develop the local business environment, but also to increase the main economic indicators, thus creating the premises for attracting local and foreign investments.


Ascent Group became partner of Consulting Review Magazine

December 10, 2007Adela Cristea

Ascent Group became partner of Consulting Review magazine, publication dedicated to answer the needs of information, documentation and professional improvement in business felt by all the investors and managers in Romanian.

Starting with December, Ascent Group consultants will answer to the questions addressed by the readers of the magazine; respectively they will offer solutions on accounting, tax, legal and labor issues.

The selection of Ascent Group as partner of the Consulting Review magazine is an additional proves for the quality of the service our group tries to provide for its clients.


CAEN Code will be modified according to EU standards

December 7, 2007Rainfall

The National Institute of Statistics elaborated the revised version of the Classification List of the Activities within the National Economy (CAEN), in order to be compatible with the European classification list. The changes will apply starting with January the 1st 2008.

Thus, the activities within the national economy will be classified according to a new structure, compatible with the EU standards. The new codes system will be applicable within the EU, and Romanian companies will be able to take part in any European auction. Good news for the companies is that they will have much more options to register within different domains of economy.