ROMANIA Law and Practice Contributed by: Monia Dobrescu and Mădălina Trifan, Mușat & Asociații
4. Planning and Zoning 4.1 Legislative and Governmental Controls Applicable to Strategic Planning and Zoning The main regulations and plans applicable to strategic planning and zoning are: • Law No 350/2001 regarding urban planning; • the general urban plan (PUG); These plans are technical documents drawn up for the regulation and development of a local - ity (PUG), a determined area (PUZ) or a specific location (PUD). 4.2 Legislative and Governmental Controls Applicable to Design, Appearance and Method of Construction General The design, appearance and method of con - struction of new buildings and the refurbish - ment of existing buildings are regulated by Law No 50/1991 regarding construction works and Law No 10/1995 regarding quality in construc - • the zoning urban plan (PUZ); and • the detailed urban plan (PUD). According to Law No 50/1991, as a general rule, construction works are allowed only on the basis of a building permit. In order to receive such per - mit, an urbanism certificate is required. This doc - ument contains the rules and parameters that have to be followed and complied with by the designer of the construction, and may not devi - ate from the requirements set forth by the urban planning documentation of the respective area. tion works. Procedure
est, increase or penalty of whatever nature or accessory expense may be added to claims aris - ing before the date of opening of the insolvency proceedings, except for privileged claims. Where a reorganisation plan is confirmed, the interests, increases or penalties of whatever nature or accessory expenses for the obliga - tions arising after the date of opening of the general proceeding shall be paid according to the documents they result from and to the pay - ments schedule. Where the plan is unsuccess - ful, they shall continue to be due until the open - ing of bankruptcy. Accordingly, the insolvency legal provisions stipulate that secured claims are recorded in the final table of receivables up to the market value of the security, as established by the valuation report. For claims preceding the date of the opening of the insolvency proceedings, the lender will lodge its receivable claim along with the proofs of debt within a term set in the decision concerning the opening of the proceedings, under the sanction of losing its right to recover the receivables. 3.10 Taxes on Loans General rules for interest deductibility rules are in place, so borrowing costs incurred in a fiscal period that exceed the deductible threshold of EUR1 million are deductible for CIT purposes up to the limit of 30% of the calculation base. The non-deductible exceeding borrowing costs can be carried forward indefinitely. The limitation also applies to any debt-related costs in connection with loans granted by financial institutions.
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