LAW No. 71 of 16 July 1994 concerning the granting of additional facilities against the law. 35/1991 republished, in order to attract foreign investors in the industry published in PARLIAMENT ISSUING the OFFICIAL GAZETTE NR. 189 of 22 July 1994, the Romanian Parliament adopts this law.
Article 1 companies shall be established under the law in the field of industry, with the participation of foreign capital, the contributions subscribed by foreign investor shall be paid in the amount of at least $ 50 million on its behalf S.U.A. opened at a commercial bank, Romanian legal person, and which carries out, within the time and according to the provisions of the contract, with a production value of integration in Romania at least 60 percent, and an export of 50% of the value of annual production shall receive the following amenities: a) the exemption from customs duties for a period of 7 years shall run from the date of registration of the company, cars, machinery, installations, equipment, import the necessary investment subscribed as in nature or contribution paid out of own sources, drawn or borrowed;
b) exemption from customs duties for a period of 7 years from the date of registration of the company, raw materials, consumables, spare parts and components imported for their own production company, paid out of own sources, drawn or borrowed;
c) tax exemption on profits for a period of 5 years from the date of obtaining profit, but not more than 7 years after the date of commencement of productive activity.
Article 2 where, over a period of 14 years from the date of registration, the company reduces its share capital so that foreign investor participation descends below the minimum of $ 50 million or voluntarily dissolves S.U.A., she will be ordered to pay all the taxes and fees would be applied throughout its life, the lack of facilities to including those who had been dispensata in the period of exemption.
This law was adopted by the Senate at its meeting on 20 June 1994, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
SENATE PRESIDENT Prof. Dr. O'LEARY GAITAN this law was adopted by the Chamber of deputies at its meeting on 20 June 1994, in compliance with the provisions of art. 74 para. (2) of the Constitution of Romania.
p. GILBERT CHAMBER of DEPUTIES PRESIDENT R — — — — — — — — — — — — — — — — —