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TABLE OF CONTENTGENERAL PRESENTATION OF THE LEGAL SYSTEM APPLICABLE WHENDOING BUSINESS IN ROMANIAI. INTRODUCTION...................................................................................................................... 31. Location and Population ........................................................................................................ 32. Language ................................................................................................................................ 33. Administrative division .......................................................................................................... 34. Currency................................................................................................................................. 3II. GENERAL OVERVIEW UPON THE ROMANIA’S POLITICAL AND ECONOMIC STRATEGY ......... 4III. GENERAL PRESENTATION OF THE LEGAL SYSTEM ................................................................. 4IV. CORPORATE LAW ................................................................................................................... 61. Different forms of investments.............................................................................................. 62. Type of structures set out by investors in Romania .............................................................. 73. The setting-up procedure of a company in Romania............................................................. 74. The setting up procedure of a foreign company’s branch office in Romania........................ 9V. TAX LAW................................................................................................................................. 91. General taxes and fees........................................................................................................... 92. The tax per profit ................................................................................................................... 93. The tax per income .............................................................................................................. 104. The income tax paid by the small and medium enterprises (SME) ..................................... 115. The tax paid by branches of foreign companies in Romania............................................... 116. The VAT ................................................................................................................................ 117. The excises ........................................................................................................................... 128. The local taxes...................................................................................................................... 12VI. LABOUR LAW........................................................................................................................ 131. The individual labor contracts.............................................................................................. 132. Documents regulating the labor reports ............................................................................. 133. The collective labor contract................................................................................................ 144. Minimum holiday period...................................................................................................... 145. The trial period..................................................................................................................... 146. The prior notice.................................................................................................................... 157. The contributions at the state’s budget .............................................................................. 158. The salary ............................................................................................................................. 15VII. PROTECTION OF PERSONAL DATA ....................................................................................... 16VIII. RENEWABLE ENERGY RESOURCES ....................................................................................... 161. The wind energy................................................................................................................... 172. Biomass ................................................................................................................................ 183. Solar energy ......................................................................................................................... 184. Geothermal energy .............................................................................................................. 185. Hydro energy........................................................................................................................ 186. Future plans ......................................................................................................................... 19IX. COMPLIANCE IN BUSINESS ETHICS AND ANTICORRUPTION ............................................... 19