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Ascent Group opens a new office in Sibiu

December 4, 2011Adela Cristea

Ascent Group continues its expansion plans by opening a new office in Romania, in Sibiu.

Ascent Group’s office in Sibiu will offer clients all types of services the consulting group Ascent is offering, but also aims to become a catalyst for enhancing business relations between the central part of Romania and other countries in the region.

Not last, Sibiu office aims to provide support to all foreign investors intending to start a business in Transylvania.

The office in Sibiu is the 7th office opened by Ascent Group, after those in Bucharest, Arad, Chisinau, Limassol, Sofia and Belgrade.

The contact details where you can find our new office are:

Ascent Group Sibiu
Revolution street no. 1, apt. 15
Tel: +40 269 211090
fax: +40 269 211722

We look forward to see you in Sibiu!


The new version of the Revisal application according to the Government Decision no. 500/2011

November 11, 2011Adela Cristea

As a result to the public consultations, the Labour Inspection provides to the employers the new version of the IT application Revisal for establisment and completation of the evidence register of the employees in the electronic format, updated in accordance with the Government Decision no. 500/2011:

  • Revisal 5.0.6 (for Windows XP/ Vista/ 7)
  • Installation and use guide (Pdf format- Portable Document Format)

The new format of the Revisal application allows:


The cancelling and the reduction of the penalties and increases of delaying- the new procedure

November 11, 2011Adela Cristea

Recently, through the ANAF Order no. 3.253/2011 for the approval of issued application forms models OG no. 30/2011, were reglemented forms of delayed cancellation of penalties for companies which pay their debts until the end of the year.

Briefly, the fiscal facilities are granted for the fiscal obligations related fittings main residual fiscal obligations at 31 August 2011. Penalties of delaying are being cancelled or reduced as follows:


The beginning of Summer brought with it a new human resources manager at Ascent Group

September 28, 2011Rainfall

Early summer marked a change in the Ascent Group team. Thus, from the 1st of May, the new HR manager of Ascent Group in Romania is Ramona Bosînceanu.
Ramona is an alumnus of the Economics Faculty of the Aurel Vlaicu University in Arad, and of a Master program in Human Resources Management. Over the years, Ramona enriched her knowledge by attending numerous courses and specializations in the field of human resources.
Ramona has 9 years of experiences in the field of human resources, of which 3 years as a human resources specialist at Ascent Group. During this period she was involved in many projects of personal recruitment and executive search, personnel administration and payroll, personal assessment, restructuring of enterprises, collective negotiations and training.


Codul Muncii – Ce se modifică începând cu 01 Mai 2011?

April 29, 2011Rainfall

In the Official Gazette, Part I, no. 0225 of 31 March 2011, Law 40/2011, for amending and supplementing Law no. 53/2003 – Labor Code, was published.

Amendments to the Labor Code are as follows:

1. Article 1 – (1) ‘This code regulates the employment relationship”, as compared to “implements all individual and collective labor relations.”

2. 16 – (2) Brings the obvious completion “Before entering the service, the individual employment contract shall be entered in the register of employee records, which is transmitted to the Territorial Labor Inspectorate” electronically.
If before the employer had to register the contract with the Labor Inspectorate within 20 days and then to hand the employee a copy of it, article 16 – (3) comes with completion “The employer is obliged, before commencement of work, to hand the employee a copy of the employment contract.”


The return to microcompanies

January 18, 2011Reliana Groza

On 30th of December 2010 the Romanian Government introduced through the O.U. no. 117/2010 the possibility to return to the status of microcompany.

In the understanding of this ordinance, the microcompany is a legal entity that at 31st of December 2010 meets ALL the following conditions:

  1. has incomes other than those obtained from banking, insurance, reinsurance, capital markets (except the intermediary in these areas), gambling, consultancy and management.
  2. has minimum 1 and maximum 9 employees
  3. achieved revenues that did not exceed the equivalent in lei of 100.000 EUR
  4. the registered capital is held by persons, other than state and local authorities

On 30th of December 2010 the Romanian Government introduced through the O.U. no. 117/2010 the possibility to return to the status of microcompany.


Gross minimum salary was changed from 1st of January 2011

January 18, 2011Ramona Bosinceanu

Starting with 1st of January 2011 the minimum gross salary guaranteed payment is set at 670 lei per month according to H.G. 11931/2010, compared with 600 lei as it was at the end of 2010.

The amount of 670 lei is set for a full-time working schedule of 170 hours per month, representing 3.94 lei/hour. The staff compliance with a salary below the minimum gross salary is considered to be a contravention and is punishable by law with a fine of 1.000 lei up to 2.000 lei.

Therefore according with the new provisions, the minimum gross salary is 670 lei for an unqualified worker, a minimum gross salary of 804 lei for a qualified worker, and for the personnel employed in positions that require higher education will be of 1340 lei.

The H.G. 1193/2010 that enables the minimum gross salary guaranteed payment was published in the Official Gazette, Part I no. 824 from 9 December 2010.


The main legislative changes in fiscal domain for 2011

January 13, 2011Mirela Rosu

During the last days of 2010, were published in the Official Gazette 891/30.12.2010 important changes of the Fiscal Code and of the Regulations for the application of the Fiscal Code, but also of the social insurance legislation and the Fiscal Procedure Code. The governmental decree that stipulates these changes is OUG 117 for the amendment and completition of Law no. 571/2003 regarding the Fiscal Code and reglementation of some financial and fiscal measures.

Amendments to the Fiscal Code relates primarily to: tax, income tax on small companies, VAT, income tax, excise duties, social contributions. Here are the main changes occurring in each of these areas:


Starting with October 1st the minimum tax dissapears!

September 30, 2010Adela Cristea

Based on the Romanian Government’s representatives, starting with October 1st, the minimum tax will be eliminated. The minimum tax was introduced at 1st of May 2009, together with other fiscal measures aimed to diminish the effects of the economic crisis, but finally, their effects were exactly the opposite.

As a result of the minimum tax’s elimination, the companies will pay between the 1st of October and the 31st of December 2010 the profit tax of 16%.

The last deadline for the minimum tax (the flat tax) will be the 25th of October, for the 3rd quarter of 2010. Starting with the 25th of February 2011, the companies will pay the profit tax for the 4th quarter of 2010, accordingly with the calculation norms existing before the introduction of the minimum tax.


Amendments to the Fiscal Code startig with July 1st 2010

July 2, 2010Rainfall

Starting July 1st 2010, new tax and fiscal regulations are applied in Romania, due to the Emergency Ordinance 58 from June 26th 2010, that will affect all sectors of the national economy.

We briefly present the changes brought by this ordinance:

Profit Tax

Article 32 of the Fiscal Code is amended and has the following content:

“Art.32 Any loss realized by permanent headquarters situated in other states other than Member States of the European Union / European Association of Free Trade or which are located in a state with which Romania has concluded a double taxation convention is deductible only from the income earned by that permanent headquarters.


The art of self-distruction!

June 30, 2010Adela Cristea

One year and a half ago the Romanian Government announced the first set of anti-crisis measures. I’ve considered them wrong and I estimated their effects will be opposite and will deepen the crisis, respectively I wrote several articles about it at that time.


Beginning with August 1st 2010, the Register of Intra Community Operators is being set up

June 30, 2010Reliana Groza

On June 23rd 2010, the Emergency Ordinance no 54/2010 has been adopted, stipulating some measures to fight against tax evasion, ordinance that brings amendments to the Fiscal Code in force. The Ordinance was published in the Official Gazette no. 421 of June 23rd, 2010.

The stated purpose for these changes is the registration and removal from the taxpayers records of those who are carrying out Intra Community trade particularly Intra Community acquisitions of goods, to reduce tax evasion on VAT.

Thus, beginning with August 1st, 2010, the National Tax Administration Agency sets up and organizes the Register of Intra Community Operators that includes all taxable persons and non-taxable legal entities carrying out intra community operations, such as :


New registered companies don’t pay minimum tax in 2010

April 23, 2010Rainfall

As by the application rules of the Romanian Tax Code, the companies founded in 2010 pay income tax but do not pay the minimum tax.

This provision is included in art.11^6 of the Implementing Rules of the Tax Code for Article 18:

“11^6. Taxpayers established during the year are not entering under the provisions of Art. 18 para. (2) for the year wehen they are registered at the Trade Registry, but they are required to determine the income tax as by the provisions of Title II “Tax profits” of the Tax Code.”