November' 2014 | Archive | Blog
Romania’s economy grew by 1.9% in the third quarter of 2014, compared to the second quarter, and by 2.8% in the first nine months, with 0.4% higher than the annual advance recorded in June this year. The revised data issued by the Romanian National Institute of Statistics indicates that the country avoided entering into technical recession. The data is encouraging for foreign investors in Romania and the economic outlook remains positive.
Almost every company in Romania, regardless of its size, will invest in protocol expenses for various occasions. These expenses include corporate gifts, business lunches or dinners and other expenses incurred for the purpose of strengthening business relations. Our accountants in Bucharest can tell you all about the fiscal provisions for these expenses.
The National Association of Insolvency Practitioners in Romania announced that the prices paid by insolvency practitioners who want to obtain certain documents will increase starting November 2014. New provisions were also made regarding new taxes and the conditions in which insolvency practitioners are allowed to do business and work based on collaboration agreements.
The Romanian state offers several programs to entrepreneurs who want to develop their businesses in Romania or who need to reduce the costs that come with hiring employees in Romania. The programs are diverse and range from several amounts destined for investments in certain fields to various tax exemptions. They are available for small and medium sized businesses which comply with the eligibility criteria.