The minimum level of the minimum gross salary

The minimum level of the minimum gross salary in the country changed starting from January 1, 2023, reaching the value of 3,000 lei per month, without including increments and other additions, for a normal working schedule of 165,333 hours per month on average, representing 18,145 lei/ hour. The respective amendment can be found in Decision 1447/2022.

On the other hand, pursuant to GEO 168/2022, starting from January 1, 2023 for the field of constructions, the minimum gross basic salary per country guaranteed in payment is set in money, without including allowances, increments and other additions, at the amount of 4,000 lei per month, for a normal work schedule of 165,333 hours per month on average, representing on average 24,194 lei/hour.

Non-compliance with these provisions by companies constitutes a contravention and is sanctioned according to the provisions of the Labor Code and entails the cancellation of the granting of fiscal facilities. Along with the sanctioning of the companies for committing contraventions related to the modification of the salary level, the recalculation of the contributions and the related tax will be carried out, in accordance with the provisions of the law. For the differences in fiscal obligations resulting from the recalculation of social contributions and income tax, interest and late penalties are charged according to the provisions of art. 173 of the Fiscal Procedure Code, with subsequent amendments and additions.

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The main management structure of the company in Romania is the general meeting of associates / shareholders. The constitutive act establishes the rules for convening and adopting decisions and whether the exercise of the vote can be delegated by special mandate by the associate / shareholder who cannot take part in the meeting. In the limited liability company, each shareholder entitles the holder to one vote in the respective meeting. The general meeting of associates has the following main obligations: ✓ to approve the annual financial statement and to establish the distribution of the net profit. ✓ to appoint the administrators and the censors, to revoke / dismiss them and to discharge them, as well as to decide to contract the financial audit, when it is not obligatory, according to the law; ✓ to decide the pursuit of the administrators and censors for the damages caused to the company, designating also the person in charge to exercise it; ✓ to modify the constitutive act.
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The limited liability company is the most common form of company in Romania, being the legal entity that best serves the interests of investors both from the point of view of the reliability of the activity, and from the perspective of its management. The limited liability company is abbreviated "SRL" in Romania and is the equivalent of the American limited liability company Limited Liability Company (abbreviated to LLC) or the German economic structure "Gesellschaft mit beschränkter Haftung" (abbreviated to GmbH), or the structure called "limited" , the structure used in most Latin American states.
The limited liability company is characterized by:
✓ the character intuitu personae, which means that this economic structure is based on the trust between the associates;
✓ the division of the share capital into fractions called shares, which cannot be negotiable securities;
✓ the liability of the associates is limited to their contribution to the share capital.
The limited liability company may also have a single partner, natural or legal person, of Romanian or foreign nationality, who will be the owner of all shares. Instead, the maximum number of associates is 50 people.
At present, the Romanian law no longer conditions the subscription and payment of a certain amount as share capital.
Through registration, the company acquires legal personality, becoming, under the law, a collective subject of law. The conclusion given by the judge is sent, ex officio, to the Official Gazette of Romania for publication at the expense of the company and to the Financial Administration in whose territorial area is the main headquarters of the company for fiscal registration, mentioning the registration number in the Trade Register .

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