With the countless advances in technology, social media, and business practices, it can be hard to keep track of all of the new terms and concepts that are born every day. Translation has been around for a while now, and localization seems to have caught on pretty well, but transcreation is something that not a […]
According to the New Romanian Tax Code, as of January 1st, 2016, income obtained from activities performed based on civil-law contracts/agreements, concluded in accordance with the Civil Code, as well as based on agent contracts, are excluded from the category of income from independent activities for which the income tax representing anticipated payments is withheld […]
With more than 250 million speakers on this planet (and in space), Russian is the sixth most spoken language worldwide, the most spoken in Europe, and the second most used language on the Internet. Learning it may be very useful for communication not only in the Russian Federation (with a population of more than 140 […]
After controversial debates, Law No. 77/2016 on discharge of mortgage-backed debts through title transfer over an immovable property („Law on Debt Discharge„) was finally published in the Romanian Official Gazette No. 330 dated April 28th, 2016, and entered into force on May 13th, 2016. „Debt discharge” (darea în plată) allows for the full discharge of […]
By some estimates, the English language has more than one million words. Although impossible to establish an exact figure, it is generally agreed that there is no other language with so many words. And it’s not like any of us use all one million words, but this fact gives you reasons to believe that English […]
A. Distraint and sale of shares Pursuant to changes set forth in Law no. 152/2015 amending and supplementing specific normative acts on registrations in the Trade Registry, now the creditors of a shareholder have the possibility to put distraint on and sell the shares of their debtor. Therefore, the opposability of the garnishment and the distraint […]
The Panama Papers are an unprecedented release of 2.6 terabytes of information (11.5 million files) from the database of the world’s fourth biggest offshore law firm, Mossack Fonseca. The records were gradually obtained from an anonymous source by the German newspaper, Süddeutsche Zeitung, and shared by the International Consortium of Investigative Journalists (ICIJ) with a […]
A. Legal changes effective since 2015 The most recent legislative changes to companies registered with the Romanian Trade Registry refer to the improvement and simplification of the dissolution, liquidation and de-registration procedures in relation to the Trade Registry: Upon request of any interested person or of the National Trade Registry Office, the […]
Translation is usually defined as the act of transmitting the language of the source text into the language of the target text, taking into consideration cultural and linguistic differences. It gained a significant role starting from the 1940’s, especially during the Second World War. Back then, translators were highly needed to translate spying documents mainly […]
USA Congress enacted the FATCA legislation (which stands for Foreign Account Tax Compliance Act) in 2010 to mitigate tax evasion by US taxpayers directly owning unreported offshore accounts in non-US financial institutions or indirectly owning such accounts through foreign entities owned by them. FATCA generally requires financial institutions (both US and non-US) to classify all account […]
