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The article aims to present the basic legislative requirements for the advertisements delivered on the territory of the Republic of Bulgaria in comparison with the achievements of the EU law. The article deals with the ban on fraudulent advertisements, comparative advertisements, on advertising of different goods and services as well as with the encouragement of certain advertisements.
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Terroir is the main element of the convergence of the geographical and human environment with the qualities of a product, establishing the direct link between the qualitative characteristics and the geographical location. A concept of French origin, whose first agrarian connotation is that of "land". We will try in the article a unique legal association with the notion of domicile. A wine with a designation of origin cannot exist in the absence of a terroir, just as an individual is individualized in space through a domicile.
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The 16% flat tax rate currently used in Romania is highly competitive from a fiscal point of view and thus a transfer of profits from Romania to another tax jurisdiction should not be a purpose. Why should we strongly recommend companies to preserve a tax base as large as possible in our country?
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When we encounter difficulties in our day-to-day activities, we generally enter into a state of „fight or flight”. Correspondingly, from a transfer pricing perspective, we may also identify 2 states: one, where multinational groups voluntarily make transfer pricing adjustments to reach the market level (the “fight” state) or the second state where, although deviations from the market level are identified, no adjustments are made (the “flight” state) and thus the company faces potential transfer pricing exposure in the event of a tax audit. Clearly, the second state is not the wisest position to choose.
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Legislative provisions in the field of taxation applicable to e-commerce (B2C type) suffers major and fundamental changes from July 1st, 2021. The legislative reform on this subject adopted at European level was transposed into national legislation by Emergency Ordinance no. 59/2021 for the amendment and completion of Law no. 227/2015 on the Fiscal Code, published in the Law Gazette, Part I no. 630 of 28 June 2021, being applicable starting with July 1st, 2021. These legislative changes in the field of taxation will have a substantial impact on all companies that deliver / provide goods or services online to final consumers (usually individuals) located in the European Union. The new European E-Commerce legislative package has led to the amendment or even introduction of dozens of articles in Law no. 227/2015 on the Fiscal Code. In this article we aim to detail, analyse and explain all legislative changes that have been adopted in national legislation, so that Romanian companies can prepare for the application of new procedures related to registration, declaration, and payment of VAT, as well as for those related to cross-border trade imports.
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The legislator of the old Romanian Civil Code regulated the principle of relativity of the contract effects in Book III (“On the different ways of acquiring property”), Title III (“On contracts or conventions”), Chapter III (“On the effect of conventions”), Section II (“On the effect of conventions on third parties”), Article 973. The rule of relativity of the biding effects of legal relationships arising from contracts, in their meaning of direct effects, was taken over by the legislator of the old Romanian Civil Code from the text of Article 1165 of the French Civil Code. Unlike the old regulation, the current Civil Code, whose appearance has been imposed by the legal, economic, social, and historical context after 1989, acknowledges the existence of exceptions to the principle of relativity of the effects of the contract, exceptions which are prescribed exclusively by law. The source of inspiration for the editors of the new Civil Code was Article 1165 of the French Civil Code. The principle of relativity of the effects of the contract is also found in the legal regulations of other states, such as the Civil Code of the Québec Province (Articles 1440-1442), the Louisiana Civil Code 1983-1985 (the chapter entitled “Effects of Conventional Obligations”), the Belgian Civil Code (Article 1165), the Spanish Civil Code (Article 1257), the Italian Civil Code (Article 1372 entitled “Contract effectiveness”), the Algerian Civil Code (Articles 108-113), the Senegalese Civil and Trade Obligation Code (Article 110 entitled “Contract Relativity”), the 1969 Vienna Convention on the Law of Treaties (Article 34), the French Law no. 66-420/1996 on charter and maritime transport contracts (Article 52), and the European Project for a Code of Obligations or the Gandolfi Project (Article 42).
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Traditionally, tax regulations on the identification and payment of corporate income tax provide for individual obligations for each taxpayer. The current context of the use of the market for goods and services in several countries in the process of economic activity, both within the borders of the European Union and globally, has generated regulatory methods and mechanisms for determining the taxable profit in a unitary way at the level of a group of companies, whose activity is closely coordinated. Today, the concept of group taxation, also called “fiscal consolidation”, is used to establish the profit tax, within the fiscal regulations of many states, a concept that allows the aggregation of the fiscal results determined by several taxpayers that are linked, directly or indirectly, depending on certain criteria, such as the level of capital holding. This regulation has benefits not only for taxpayers, but also for the states that use it, especially in connection with stimulating the creation and development of domestic holdings, attracting/ maintaining foreign investment and eliminating competitive disadvantages compared to other legislation that uses this concept. The paper analyzes the regulation adopted at the end of 2020 in Romania, from a theoretical point of view but also from the perspective of the CJEU jurisprudence, highlighting some proposals for improvement.
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According to the Tax Procedure Code, tax debt arises once the taxable base that generates it arised. According to the Tax Code, the taxable base is constituted differently, minding the nature of the tax. In the case of corporate tax, the taxable base is represented by the taxable profit = income – expanses + non-deductible expanses – non-taxable income, while in the case of VAT, the taxable base is represented by the consideration obtained or that is to be obtained by the supplier from the buyer, the beneficiary or a third-party. Tax Evasion Law no. 241/2005 sanctions the fraudulent reduction of the taxable base by means of registration of “expanses that are not based on real transactions of the registration of other fictious transactions” and that is the reason why the author is trying to clear whether value added tax requalified as fiscally non-deductible for the beneficiary of the transaction actually comes within the framework of the legal hyphothesis referred by art. 9 par. (1) c) of Law no. 241/2005.
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This article aims to explain a new tax figure. This figure wants to be implemented immediately by the Spanish Government. The new tax has the particularity that it has been classified within the so-called “green taxation”. Aspects such as the essential elements of the tax, its parliamentary processing, as well as its advantages and disadvantages will be discussed throughout these pages. Moreover, and as an introductory way to link with the main topic, explanations about the emergence of environmental taxation and the constitutional regulation of environmental protection are included.
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THE CASE‐LAW OF THE EUROPEAN COURT OF JUSTICE JANUARY – FEBRUARY 2021
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The aim of the stock management is that of making available the assets that are necessary for an efficient development of the activities with minimum costs. A special role devolves on accountancy, by recording, analyzing and checking the in-out fluxes of the stocks. Their administration comes both to financial accountancy and to the administrative one. But the stock management will acquire a special constancy if the permanent inventory of the stocks is transferred to the administrative accountancy, following that in the financial accountancy to be carried out only the intermittent inventory.
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The futures contract represents an obligation assumed by an organized market, to buy/ sell a certain asset (monetary, financial, merchandise), on a certain date in the future, at the established price at the moment of concluding the transaction. The futures contract is an standardized commitment between two partners – a seller and a buyer – to sell, respectively to buy a certain active ( currencies, shares, financial titles or merchandises), at a price that was established at the moment of concluding the contract and with the execution of the contract at a future date named date of payment.
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Liquidated damages is that contractual clause in which a contractual party is forced that when a contractual clause is breached that contractual party will have to pay a certain amount of money in order to cover that prejudice that was a direct consequnce of the contractual breach. In order to guarantee the fulfillment of the commercial contract such a contractual provision is necessary because the breach of the contract will be less likely to happen if the parties know that there is a money sanction established through the will of the contractual parties.
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The aim of a contract is to provide legal certainty to the parties and to define the toolkit of remedies available in the event of a dispute. In modern business practice, the ultimate goal of a contract is to eliminate or reduce the possibility of legal liability; the issue of efficiency and effectiveness of contract implementation is not the primary goal. The impact of technology in the concept of contract creation, implementation and control has redefined the traditional approach which implies that contracts are written by “lawyers for lawyers”. The contemporary practice bears witness of the correlation and intertwining of law and technology in a way that exceeds the scope and goes beyond the relationship between the regulator and the regulated object; in effect, technology becomes an organic element of law, its origin, application, control and development. A smart contract, as an example of the influence of technology in the field of regulating contractual relations, automatically activates the obligation, in accordance with the terms and conditions that the parties agreed upon and entered in the program code. Based on the Blockchain technology, a smart contract profoundly changes the paradigm of trust in a person with the paradigm of trust in a program code. The basic limitation of smart contracts is their capacity to convert complex legal concepts into the computational form readable by a program code. Thus, they cannot function in a pure form (entirely defined by a program code). The code needs to be complemented by text. The legal form that should bridge the gap between the smart contract and the traditional contract is the Ricardian agreement. The Ricardian contract uses the best from both worlds. On the one hand, the key terms of the contract are in software-readable program code format; on the other hand, more complex provisions that are not suitable for conversion into an algorithm are contained in additional instructions that are part of the Ricardian agreement. In terms of legal obligation, the Ricardian contract reflects exclusively and only the intention of the parties, without implying a legal obligation that could be formally established only by concluding the intended future agreement. As such, the Ricardian contract can play the role of a guide for the interpretation of the prospective agreement, which gives it a certain value in case of a dispute.
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The study provides an analysis of the status of representatives in disputes with the company and, consequently, of the rules of representation in those disputes. The research problem addressed herein is based on the analysis of Article 210 § 1 and Article 253 of the Polish Code of Commercial Partnerships and Companies (CCPC). These rules govern issues related to the occurrence of disputes with the company and, in particular, the problem of the participation of the company’s representatives in those disputes. It should be clear that power of attorney plays a special role in the regulation of the Code of Commercial Partnerships and Companies. It is also widely applicable not only in the classic representation of entities or persons within the company, but also of the company itself. A representative is granted a special status due to the transactions in which he participates. One should also keep in mind the situations where a representative represents the company in classical activities besides Articles 210 or 253 CCPC. In that case, the representative’s authorisation is “activated” by the body usually having the power to do so (the management board) or by other representatives (statutory representatives or representatives appointed under a power of attorney, if the conditions laid down in Article 106 of the Polish Civil Code are met). Another situation is when they are appointed by a meeting of shareholders or partners (Articles 210 and 253 CCPC). Another feature of the special power of attorney is the use of it in disputes and not in legal transactions. It can therefore be concluded that the use of the word “representative” in the context of the provisions of the Polish Code of Commercial Partnerships and Companies may be of particular importance.
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In art. 78 section 2 PrAut the right to protection and exercise of personal copyrights after the death of the creator has been granted to the persons mentioned in this provision. This is an extraordinary situation, because by its very nature, personal rights expire when a person dies. Such a solution raises discussion and is a source of doctrinal controversy. The subject and the rules of its compliance with the civil law system require determining what constitutes the subject of the protection granted, and therefore whether the claim for compensation for harm suffered as a consequence of the violation of personal copyrights after the death of the creator is a claim on behalf of the deceased creator, or is an autonomous personal right assigned to entities indicated in the Act.
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