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OUG 114/2018 – Minimum wage and tax exemptions in the Construction industry

Emergency Ordinance no. 114/2018 published in the Official Gazette no. 1116 of 29 December 2018, through Chapter III – amending and completing some normative acts, provides important changes regarding wages in the construction industry. We consider that it is of huge importance to inform you of the following: For the

Romania: New Year- New Trendy Tax Hat

As we are used for years… most probably Santa Claus is bringing new inspiration and is converting the last week of December in the most prolific period in emergency government ordinances… Thus, Romanian Government declares as priority for future development the sector Constructions for the period 2019-2028. Based on this

Romania: Hiring Foreign Workers

The minimum salary required for foreign employees obliged to obtain work permit in Romania (non-EU) decreased from average gross salary to minimum gross salary at level of economy, similar to Romanian employees. For highly skilled job, the minimum salary required for non-EU foreign employees represents the amount equivalent of two

Romania: 2019 EBITDA & IFRS16

The Companies using operational leasing will disclose higher EBITDA in accordance with the new IFRS 16 to be applied starting from 2019. The new IFRS 16 was implemented also in Accounting rules provided by Order of Ministry of Finance 1802/2014 with all updated amendments, applicable to companies in Romania. The

Romania: Jump 2019

Planning budget for 2019 should take into consideration proposed general increase of minimum gross salary at level of Romanian economy from 1,900 lei to 2,080 lei. Additionally, the factors of differentiation would be the university studies and years of experience. These could lead in some cases to minimum required salary

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