ROMANIA
According to Romanian labour laws, the minimum age required to be hired for work is 16 years of age. A 15 year old can be hired for certain activities which will not affect their health or professional development only by consent their parents or legal representatives. The law requires that a ...
On 1 January 2025, the minimum wage in Romania increased by 12% to RON 4,050.00 gross (around EUR 800.00 gross). This increase benefits more than one million Romanian employees. The increase in Romania's minimum wage is not an isolated measure, but part of a wider European context. ...
Romania has been subject to numerous tax reforms in recent weeks and one of them has been particularly controversial with employers and employees. It is about the transfer of social security contributions of employers to the gross salary. This tax reform will be applicable as of 1 January 2018, ...
The need to draft internal regulations: as of 1 employee upwards The need to commence negotiations for a collective employment agreement: as of 21 employees upwards The need to have one representative of the staff: as of 21 de employees upwards The notice period in case of ...
Romania is an ideal gateway country to the Eastern European market. One of the main advantages for entrepreneurs looking to invest in Romania is the relatively inexpensive labor from a skilled, multilingual workforce. Romanians enjoy a good standard of living on the most modest average salary in ...
Social Security Contribution Employer contribution Employee contribution State sponsored social security (CAS) - pension 20.80% 10.50% Social health insurance 5.20% 5.50% Unemployment insurance 0.50% 0.50% Sick leave and disability ...
1. The work contract is recorded on the General Registry of employees (REVISAL) before the employee begins his or her first day of work. This record is then sent to the Labor Inspectorate by internet.2. The employment contract is a written document, in Romanian, and the employer must give the ...
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The government has changed the requirements for eligibility for public aid to companies which invest and create jobs in Romania.Companies which invest between 5 and 10 million EUR and create a minimum of 50 jobs are now eligible for public aid. There are four categories for granting public aid ...
People who have worked for 12 months before the date of birth of their child can benefit either from: a leave of one year, as well as a monthly compensation equivalent to 75% of the average net income over the last 12 months. Compensation may not exceed 3,400 RON/month (about 800 EUR/month). ...
As of March 2010, employers who hire unemployed persons benefit from a reduction in social security charges.Starting on March 1, 2010, employers will be exempt from payment of social security charges for 6 months for hiring unemployed people for newly created positions.In order to benefit from ...
Employers must now send a complete record of employ for new employees (REGES or REVISAL) to the Labor Inspectorate. This record must include all identification data of the new employee (name, surname, personal id number) and information on the employment contract (start date, type of contract, ...
The Romanian labor market has experienced a sharp increase in the supply of work versus demand by potential employees. Foreign companies opening an office in Romania have saturated the market with job offers, outnumbering the potential employees, leaving certain posts vacant. Employees ...
Expertise
Précis de droit comptable et aspects fiscaux
April 2023, publication of the new edition of the Précis de Droit Comptable, by Denis Colin, manager of the Fiduciaire LPG