Govnet

EY: The need for fiscal predictability remains a critical issue in 2019

"Year 2018 began under the sign of the fiscal revolution: moving contributions, split VAT, new restrictions to reduce financing costs. It seemed that this year was going to be a set of changes already introduced. But in the last days of 2018, the Government came up with a new and unexpected package of tax measures that surprised and puzzled both taxpayers and even some state authorities. And it seems that things do not stop here, and there will be other changes coming soon. So, our appeal to the predictability of tax legislation is and remains as current, "said Alex Milcev, Partner, Head of the Tax and Legal Aid Department of EY Romania, during the 13th edition of the Annual Tax Conference EY.

The Competition Council has sanctioned nine insurance companies with 53 million euro

The Competition Council has sanctioned nine insurance companies and the National Union of Insurance and Reinsurance Companies of Romania (UNSAR) with total fines of 246,739,195.6 lei (about 53 million euros) for violation of the national and European competition regulations by coordinating market behavior in order to increase the compulsory civil liability insurance (RCA) rates.

Financial

Nine financing grants of 491.2 million lei through state aid scheme were approved

The first nine financing agreements granted on the basis of the state aid scheme for stimulating major investments (807/2014) were signed today by the Minister of Public Finances, Mr. Eugen Teodorovici, on November 12th. The signing ceremony took place at Victoria Palace, in the presence of the Prime Minister, Ms. Viorica Dăncilă.

"I am very pleased to have signed today the first 9 investment projects that will bring added value to the Romanian economy. The benefits they will bring have to be seen from two perspectives - the development of the region where the investment will be made and the creation of almost 2,000 of new jobs, "said Minister of Public Finance, Mr. Eugen Teodorovici.

Instant Factoring attracts an external financing of 1.5 million euros

Instant Factoring, the first Romanian online micro-factoring company for SMEs, received 1.5 million euros from an investment fund in the United States. The attracted funds, together with the company's equity, will support the expansion of activity on the Romanian market by developing microfinance operations for a volume of invoices totaling up to 20 million Euro in 2019.

PWC Study: The BSE indexes have surpassed the performance of Government bonds over the past 7 years

CITR was appointed judicial administrator in the insolvency of Octagon

2019 will count around 100 M&A deals while NPL transactions will further decrease

EY: The need for fiscal predictability remains a critical issue in 2019

MFP announced five grant agreements under the state aid scheme

The Competition Council has sanctioned nine insurance companies with 53 million euro

Nine financing grants of 491.2 million lei through state aid scheme were approved

Instant Factoring attracts an external financing of 1.5 million euros