Splaiul Unirii, Nr. 16 Cladirea Muntenia Business Center, Etaj 7 Bucureşti, Sector 4
	+40-372-07.43.98 +40-372-07.43.89 +40-372-07.43.88 +40-372-07.42.06 +40-740-40.60.00
	+40-344-80.13.03 +40-31-405.75.73
www.ars.ro

Ars Advertising is a full service advertising agency specialized in institutional communication. This major reflects the agency ability to design, develop and implement the most efficient strategic and creative solution, always adapted to the specified communication model.With it's 11 years of experiences on the market, Ars Advertising offers a whole range of specific services, such as: Strategy, Creation, Production and Media Planning & Buying. Our experience and market knowledge recommends us for creating Corporate & Brand IDs, helping our clients to promote their products and services through specialized trade shows and special events, sales promotion, market positioning and consumer-informing campaigns. The entire world created by Ars Advertising has a unique pattern, a clear signature that shows directly the high standard of institutional communication.

ISO 9001

Board members

GABRIEL ŞTEFĂNESCU President

Top management

GABRIEL ŞTEFĂNESCU President

AMALIA POPEANGA PR Specialist

Contact persons

AMALIA POPEANGA PR Specialist

4,200,000 EURO (2008)

Private-owned - 100 %

Acon Audit

20

TAX & LEGAL NEWS

19 February 2010 Mazars Tax Alert: Norms for the Certification of the Annual Tax Returns Issued by the Chamber of Tax Consultants 16 February 2010 Mazars Tax Alert: The Inflation Index Used for the Restatement of the Anticipatory Payments 11 February 2010 Mazars Tax Alert: 2010 State Budget, Social Security Budget Laws and National Tax Agency Orders 1 February 2010 Mazars Legislative News: Amendments on preparation and filling-in of Employees’ General Register 21 January 2010 Mazars Tax Alert: New tax procedures and forms FR & GE Versions/ Archive

3 March 2010 RAIFFEISEN BANK S.A. Focus FX Currency forecast At EUR/USD 1.348, the euro was trading some 2 cents lower to the US dollar compared to one week ago. The trading range extended from EUR/USD 1.345 to 1.37. read more ... 26 February 2010 RAIFFEISEN BANK S.A. Bond Markets Outlook Last week, yields for governmental bonds decreased slightly both in the primary and secondary market. We expect them to stabilise at the current levels over the short term, but we see room for additional decreases by the end of this year. read more ... 24 February 2010 ERNST & YOUNG S.R.L. Taxation in Romania Resident entities as well as legal entities having their headquarters in Romania, but incorporated as per the European legislation (i.e. European companies) are subject to tax on worldwide income. read more ... 23 February 2010 RAIFFEISEN BANK S.A. Focus FX At EUR/USD 1.367 the euro is trading at essentially the same level to the dollar as last Tuesday. However, during the week we did witness sharp movements in both directions. read more ... Bond Markets Outlook Emerging Markets Report Economic Overview - January 2010 Q&A Reglemetarile contabile conforme cu directivele europene CEE Banking 4Q 09 Previews Q&A: Impozitul pe venitul microîntreprinderilor