This site places cookies on your device to offer you a better browsing experience. You can visit this page to find out more on how we use cookies and how you can change your settings. If you continue browsing our site, we’ll assume you agree to our cookie use.      Accept this cookie | Find out more

Țuca Zbârcea & Asociații
Print Site Map
   
Home/COVID-19
COVID-19 Legal Insights
 
 
 
COVID-19 Legal Insights
COVID-19 Legal Insights is our response to the COVID-19 outbreak. We shall keep you informed on the various legal challenges posed by the coronavirus, thanks to a dedicated practice group comprising lawyers with different backgrounds, such as compliance/regulatory, corporate and commercial, insurance, labour and employment, litigation and arbitration, insolvency, public procurement, data privacy, tax and customs. In addition, our taskforce offers strategic advice on crisis-specific matters: corporate restructuring, review and (re)negotiation of agreements (including collective bargaining agreements and individual employment contracts), performance of the contracts which are affected by force majeure and hardship, unblocking pre-litigation relationships, etc.
COVID-19 Legal Insights is our response to the COVID-19 outbreak. We shall keep you informed on the various legal challenges posed by the coronavirus, thanks to a dedicated practice group comprising lawyers with different backgrounds, such as compliance/regulatory, corporate and commercial, insurance, labour and employment, litigation and arbitration, insolvency, public procurement, data privacy, tax and customs. In addition, our taskforce offers strategic advice on crisis-specific matters: corporate restructuring, review and (re)negotiation of agreements (including collective bargaining agreements and individual employment contracts), performance of the contracts which are affected by force majeure and hardship, unblocking pre-litigation relationships, etc.
In the context of the global health crisis, the Romanian State took several measures dealing with the economic, financial and social consequences of the spread of COVID-19, including a series of stimulus measures, mostly temporary, to protect the business environment. Of particular interest is Decree No. 195/2020 of the President of Romania (the "Decree"), which declared the state of emergency and announced that the Government is empowered to take measures of support for all economic agents affected by COVID-19 crisis. Among others, the Decree provided that the affected economic agents may apply for "state of emergency certificates", that the Government may adopt exceptional measures to support employers as well as employees etc. Following the Decree, the Government adopted a number of regulations in the commercial, banking, social security, taxation and gambling fields. We note, for instance, that a "technical unemployment" indemnity for the employees whose labour contracts were temporarily suspended against the background of the COVID-19 crisis will be paid from the State budget; that payment of the instalments for bank loans, including financial leasing contracts, may be suspended upon request; that no interest and penalties will accrue or be charged for the late payment of certain tax obligations. The Government also enacted several measures applicable for the SMEs badly hit by the crisis. This material is meant to offer you a synthetic view on the most important regulations establishing stimulus measures relevant for the business environment, issued since the beginning of the state of emergency in Romania. Many of these regulations have already been amended and may be further amended or supplemented. To read the entire legal insight, please download the .pdf attached (English and Romanian).
Business stimulus measures taken by Romania in the context of the COVID-19 crisis (UPDATED 24 April)
 

In the context of the global health crisis, the Romanian State took several measures dealing with the economic, financial and social consequences of the spread of COVID-19, including a series of stimulus measures, mostly temporary, to protect the business environment.

Of particular interest is Decree No. 195/2020 of the President of Romania (the "Decree"), which declared the state of emergency and announced that the Government is empowered to take measures of support for all economic agents affected by COVID-19 crisis. Among others, the Decree provided that the affected economic agents may apply for "state of emergency certificates", that the Government may adopt exceptional measures to support employers as well as employees etc.

Following the Decree, the Government adopted a number of regulations in the commercial, banking, social security, taxation and gambling fields. We note, for instance, that a "technical unemployment" indemnity for the employees whose labour contracts were temporarily suspended against the background of the COVID-19 crisis will be paid from the State budget; that payment of the instalments for bank loans, including financial leasing contracts, may be suspended upon request; that no interest and penalties will accrue or be charged for the late payment of certain tax obligations. The Government also enacted several measures applicable for the SMEs badly hit by the crisis.

This material is meant to offer you a synthetic view on the most important regulations establishing stimulus measures relevant for the business environment, issued since the beginning of the state of emergency in Romania. Many of these regulations have already been amended and may be further amended or supplemented. 

To read the entire legal insight, please download the .pdf attached (English and Romanian).



Țuca Zbârcea & Asociații, named Romania Law Firm of the Year by the British legal directory Chambers Europe [...]
Tuca Zbarcea & Asociatii, named Romania Law Firm of the Year by the British legal directory Chambers Europe
The Legal 500 EMEA 2020 edition: Țuca Zbârcea & Asociații has been recommended as a Top Tier Firm in 13 practice areas [...]
The Legal 500 EMEA 2020 edition: Tuca Zbarcea & Asociatii has been recommended as a Top Tier Firm in 13 practice areas
Țuca Zbârcea & Asociații launches a set of podcasts titled "Law in the time of corona" [...]
Tuca Zbarcea & Asociatii launches a set of podcasts titled "Law in the time of corona"
Țuca Zbârcea & Asociații Responds to the Challenges Raised by the Current Crisis through a Package of Services Adapted to the National Emergency [...]
Tuca Zbarcea & Asociatii Responds to the Challenges Raised by the Current Crisis through a Package of Services Adapted to the National Emergency
First-Tier rating for Țuca Zbârcea & Asociații in Chambers Europe 2020 [...]
First-Tier rating for Tuca Zbarcea & Asociatii in Chambers Europe 2020

Download
pdf file


Țuca Zbârcea & Asociații and Țuca Zbârcea & Asociații Tax are collaborating with Andersen Global in Romania
Copyright © 2007 - 2020 Țuca Zbârcea & Asociații
Privacy Policy | Terms and Conditions