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Energy Regulator: 2% Turnover Tax To Be Used For Energy Efficiency Projects
The 2% tax on turnover which energy companies must pay to energy regulator ANRE, under emergency decree 114 of December 2018, could be used for energy efficiency projects, ANRE vice-presiden...
Erbasu: New Tax Incentives Should Entice At Least 50,000 Construction Workers To Return To Romania
The tax incentives the construction sector got through Government Ordinance 114/2018 will lead to a 30% raise of workers’ pay, but only for skilled and productive ones, Cristian Erbasu, owne...
Banks in Romania Paid RON1.2B Tax on Profits in 2018
The tax on profits commercial banks paid and the transfers from the net revenue of Romania’s central bank reached 1.84 billion lei (EUR388 million) in 2018, up about 80.8% over 2017, the 201...
Major Banks Warn Government New Bank Asset Tax Will Trigger Economic Crisis in Romania
In an unprecedented move, the banks in Romania through their leaders warned the government that Ordinance 114 introducing the bank tax will generate economic crisis in Romania and cause a de...
Finance Ministry Prepares to Deal New Blow to Banks: Non-Tax-Deductible Provisions
The Finance Ministry has a new measure in store that will impact the banking system: provisions will no longer be tax-deductible unless there is a loan or financial-asset loss.
New Taxation Changes Hurt Most Representative Sectors on Bucharest Stock Exchange
Energy companies and banks, which are among the most traded stocks on the Bucharest Stock Exchange, will pass on to their customers the financial burden introduced by the Emergency Ordinance...
Romania Announces New Taxes To Gain Extra RON10B Revenue
Finance Minister Eugen Teodorovici on Tuesday evening announced new taxes on bank assets, energy and telecom companies, which he intends to use to patch the holes in the 2019 budget.
Tax Agency ANAF Under Pressure To Boost Revenue By 15%
The Finance Ministry is asking tax agency ANAF to improve collection (by 15.3% compared with 2017) to meet the budget revenue and deficit target.
Employers’ Failure To Pay Taxes Withheld On Behalf Of Employees Carries Prison Sentence
The failure to pay to the government the taxes deducted at source becomes a crime punishable by one to six years in prison, according to an emergency ordinance draft published on the Finance...