New provisions on industrial parks

Law no. 186/2013 on establishing and functioning of industrial parks (“Law 186”) has been published. Law 186 repeals the previous legislation (i.e. Government Ordinance no. 65/2001) and introduces new provisions, such as: Industrial parks are classified based on the activity performed (greenfield industrial park, agropark, technological, innovative, etc.) and the authorisation method (industrial platform and existing industrial platform). Romanian or foreign private legal entities can be park operators. The previous legislation stipulated that only companies incorporated under Romanian law were qualified to manage industrial parks. Prior to Law 186 entering into force, industrial parks had to have a minimum of 10 hectares of land to be used by or in the property of the association which require the title of industrial park for at least 30 years. Under Law 186, the minimum land area is 5 hectares. The new procedure for granting the title of industrial park and the documents required for the authorisation procedure developed by the Ministry of Regional Development and Public Administration are regulated in a detailed and exhaustive manner. Industrial park residents have the capacity of (i) counter-party of the industrial park management for administration and related services agreements, (ii) landlord or tenant of one or more of the buildings within the industrial park, as constituted in accordance with the simplified procedure. Benefits derived from the title of industrial park consist of: a) exemption from fees charged for destination change or for removal from farm-use classification of the industrial park land, b) exemption from land fees related to the industrial park land, c) exemption from building tax on industrial park buildings, d) exemption, only with local public authority approval, from local taxes, e) any other benefits that may be granted by local public authorities in accordance with the law. Unresolved applications for the title of industrial park as at the date of Law 186’s entry into force will be assessed under the old legislation. See: Romanian Official Gazette, Part I, no. 421/11.07.2013

Over 5.15 billion euros enter national economy from European funds for rural development

Romania has attracted almost 59 percent from the assigned European funds for rural development, the money actually paid to Romanian beneficiaries until early August exceeding 5.15 billion euros, general manager of the Agency for Payments for Rural Development and Fisheries (APDRP) George Turtoi told Agerpres in an interview. "I can say that, for rural development, we have reached an effective absorption rate of nearly 59 percent, money reimbursed to Romania by the European Commission (EC). In terms of the amount actually paid and entered in the national economy we speak of 5.15 billion euros in early August. However, the system is somewhat hindered because of the recent norms of the Ministry of Finance, by which we can not make two payments per month, but one only, following the introduction of legal deadlines for the account opening, and then we cannot fit in with two applications per month", stressed the APDRP head. Turtoi is optimistic in respects of the target of 1.4 billion euros attracted in 2013, even though the main problems do not come from the structure or the system, but from the financial crisis. "The biggest problem is that there is no differentiation between loans for agriculture and loans for other fields, such as those in real estate. The guarantees are often the same. In all other EU countries there are specialized banks for agriculture, because there are other risks, other prognosis. It is something different from an investment in real estate. I saw a couple of banks here, which came up with some special packages on agriculture, but when talking with the beneficiaries I found out that the collateral required for obtaining a loan is about the same", Turtoi added. As concerns the adjustments applied to Romania for the 5 billion euros attracted from European funds, the APDRP head said that Romania is among the countries with the smallest corrections, the amount going to be deducted from the subsequent amounts to be paid. "The Commission focuses on high values, where there are also the biggest financial risks. (...) I might say that we are among those in the lead, by comparison to other countries in the EU, meaning that we do not have large sums under corrections, as a ratio of the amounts paid, and this was surprising for the Commission, as well", added the general manager of APDRP. Since the start of the National Program for Rural Development - PNDR, in 2008, APDRP managed 142,008 funding applications, worth more than 17.97 billion euros. By early August a number of 88,420 projects were selected to receive non-reimbursable funding, in value of over 6.19 billion euros.

Wind energy production doubles in first half of 2013

Energy production in the wind power plants stood at 2.413 billion kWh in the first six months of this year, increasing 1.226 billion kWh from the similar period last year, according to the data released by the National Institute for Statistics (INS) on Aug. 8. The production in thermal power plants accounted for 12.140 billion KWh, declining 26.4 percent. The hydro-power plants generated 15.9 percent more energy, reaching a production of 8.494 billion kWh. At the same time, the nuclear power plant of Cernavoda produced 5.663 billion kWh, by 3.8 percent more. The final electricity consumption in the first quarter of 2013 stood at 24.881 billion kWh, by 7.5 percent lower compared with the first half of last year. In the assessed period, the public lighting registered a 9.1 percent decline and the household consumption was 0.9 percent lower. The primary energy resources dropped 15.2 percent in the first six months of this year and the electricity resources decreased 6.9 percent, the INS data also show.

Solar park to open on 65-million-euro investment

A Spanish company is building a solar park covering 135 hectares in the Romanian town of Livada, Satu Mare County, on an investment of 65 million euros. Construction site manager Filip Popescu told Agerpres that the park, to be ready this November, has a capacity of 56 MW, generating electricity for nearly 60,000 households. After the park is commissioned, nearly 145 people will work there full time in panel and land maintenance. "We are interesting in recruiting electricians and engineers, but there will also be people to mow the lawn and keep up the road. We are looking for people everywhere, but we prefer people as close to Livada as possible," said Popescu. He said such and investment is paid off in 12-15 years, depending a lot on sun and legislation. The construction company is part of the Bester Generacion group of companies that is the majority shareholder in the park. Among the shareholders are also Italian and South Korean entities.

New Legislation On Renwable Energy In Romania Wind Energy Solar Pannels Hydro Energy Biomass

http://www.investromania.be/re-energy/new-legislation-renwable-energy-romania-wind-energy-solar-pannels-hydro-energy-biomass

The Romanian microenterprise turnover tax: the new rules 3% taxes

March 2013 was a very busy month for Romanian microenterprises. “Regular” companies switching to “microenterprises” under the new tax rules in force as of 1 February 2013 had to notify the change in their applicable tax regime by the 25th of March and also to submit a corporate income tax return for their profit obtained during the year 2012.
The microenterprise turnover tax 
Brought back to life into the Romanian tax legislation in 2011, the microenterprise turnover tax regime was subject to numerous changes over the years, becoming compulsory as of 1 February 2013 for companies meeting the relevant conditions.
In a nutshell, the regime consisted in the option to pay a 3% tax on (adjusted) turnover, instead of 16% on taxable profits (as a regular company). When however any of the conditions for qualifying as a microenterprise was no longer met, the company became subject to the normal corporate income tax regime, without the possibility of going back to being a microenterprise.
In order for a company to qualify as a micro-enterprise, the conditions, up to January 2013, were as follows:

• up to 9 employees;
• turnover of up to EUR 100,000 at the end of the previous year;
• share capital held by entities other than the state or the local authorities;
• activities other than: banking, insurance and re-insurance, activities related to capital markets, gambling, consulting and management (with respect to consulting and management, under the legislation up to 2009, if such activities represented less than 50% of the turnover, the entity could still qualify as a microenterprise, however this was changed in 2011).

Starting 1 February 2013, new changes are introduced to the microenterprise turnover tax regime summarized above. The most important one is that the regime becomes compulsory for companies which meet the relevant conditions. As regards such conditions, two significant changes are introduced as follows:

• the turnover threshold is reduced from EUR 100,000 to EUR 65,000;
• the requirement to have up to 9 employees is eliminated.

The new rules
If, during the year, the EUR 65,000 threshold is exceeded, the company will become subject to corporate income tax on its profits from the beginning of the year (but taking into account the microenterprise tax paid), starting with the quarter in which the threshold is exceeded.
The microenterprise tax remains due quarterly, by the 25th of the month following the quarter for which the tax is calculated.
Newly set-up companies in Romania are required to apply the microenterprise turnover tax regime starting with their first year of operation, if the share capital condition mentioned above (i.e. private ownership), as declared at the Trade Registry, is fulfilled.
Aimed at fighting tax evasion, at a practical level, the measure will mean that not only newly-set up companies, but also companies on a tax loss position in previous periods may have to pay microenterprise tax.

Contact:
Claudia Firulescu

KPMG Tax & Legal Advisers
Bourgetlaan - Avenue du Bourget 40
1130 Brussel - Bruxelles
Belgium

Tel     +32 2 708 36 03
Fax    +32 2 708 44 44

efirulescu@kpmg.com
www.kpmg.be

Ambasadorul Belgiei, la inaugurarea primei investiţii străine la Mărăcineni , Buzau

Este vorba despre un centru de afaceri româno-belgian Ambasadorul Belgiei în România, Philippe Beke, a participat, ieri, la Buzău, la inaugurarea primului centru de afaceri româno-belgian din judeţ. La eveniment au luat parte şi reprezentanţi ai autorităţilor locale, centrul fiind dezvoltat de Filip Verschelde, cel care îl deţine de altfel, şi Freddy Jacobs, preşedintele Camerei Imobiliare Belgia – România.

"Din experienţa pe care o am, consider că este foarte important să începi alfabetul cu A, B şi C. În economie, asta înseamnă să ai grijă de ceea ce vei dori să faci în viitor şi care sunt intenţiile de urmat. Această iniţiativă de a avea un centru în comuna Mărăcineni reprezintă un beneficiu atât pentru partea belgiană cât şi pentru investitorii români. Un asemenea centru este ca un pom care poate să crească foarte mare, dar trebuie să fie îngrijit, ţinând cont de mediul în care creşte. Buzăul este o zonă în care poţi dezvolta un centru de afaceri, nu este cu nimic mai prejos decât Bucureştiul, şi are foarte multe avantaje competitive. Sprijinim autorităţile locale şi centrale în iniţiativele lor de dezvoltare a infrastructurii, tocmai în scopul de a ajuta aceste centre de afaceri în viitor. Iniţiativa domnului Freddy Jacobs de a înfiinţa această cameră la Buzău este binevenită şi de aceea am rugămintea ca primarul acestei comune şi preşedintele Consiliului Judeţean să dea o mână de ajutor la dezvoltarea centrului în perspectiva colaborărilor viitoare pe care investitorii belgieni le pot avea cu investitorii români. Sunt convins că în perioada următoare acest centru de afaceri se va dezvolta şi se va auzi de el”, a declarat Philippe Beke, ambasadorul Belgiei în România.

de afaceri nou inaugurat a fost construit în comuna Mărăcineni ca urmare a achiziţionării unei proprietăţi private, fondatorii acestuia intenţionând ca în perioada următoare să pună la punct toate detaliile pentru desfăşurarea activităţii investitorilor străini doritori.

„Noi, cetăţenii comunei Mărăcineni, ne bucurăm că avem o astfel de firmă. Poate aşa se va da startul şi pentru alte companii, să vină pe raza comunei noastre sau chiar în judeţ. Am să mă străduiesc să sprijin această societate cu tot ceea ce este necesar pentru dezvoltarea sa şi a localităţii noastre. Este o onoare că s-au gândit să facă acest centru de afaceri aici. Avem la nivelul comunei 292 de societăţi comerciale, dar toate româneşti, iar aceasta este prima care vine dintr-o ţară străină”, a precizat Constantin Dumitru, primarul comunei Mărăcineni. În prezent, în acest centru de afaceri urmează a-şi derula activitatea opt firme, printre care una olandeză, care se ocupă cu cultivarea cartofilor, şi o alta care are ca activitate transportul animalelor în Belgia. Centrul de afaceri va asigura în primul rând baza materială a investitorilor, care vor beneficia de tot sprijinul necesar în activitatea lor. Dezvoltatorii acestuia speră ca în anul următor numărul firmelor să crească, iar centrul să devină o oportunitate pentru investitorii români şi belgieni, o cale de legătură între aceştia.

„De profesie sunt veterinar, şi ţinând cont de aceasta, am călătorit prin mai multe ţări, astfel că am descoperit şi România. Mă bucur că am această şansă, şi că am renunţat la modelul de business pe care doream să îl dezvolt, în creşterea animalelor, şi am ajuns la ajutarea acestor firme mai mici. Nu am întâmpinat probleme în crearea centrului, pe partea financiară am fost ajutat de domnul Freddy Jacobs şi astfel sunt foarte mulţumit de România”, a declarat Filip Verschelde, patronul centrului de afaceri.

more info: frjacobs@telenet.be

: opinia Buzau 10 october 2012