Social/Politics
PM Considers Adopting New Tax Code Through Confidence Vote
Prime Minister Victor Ponta said Friday he is considering adopting the new Tax code through a confidence vote in Parliament should the bill be blocked in the legislative process or risk not...
VAT Cut On Meat To Boost Consumption, Reduce Bankruptcies - Romanian Meat Association
The lowering of the value added tax on meat, included in the new Tax Code draft, will boost consumption, reduce bankruptcy of companies in the sector and bring EUR300 million to the state bu...
EY: Government May Cover Deficit Generated By Fiscal Measures From Underground Economy
The Romanian government can cover the budget deficit generated by the recent fiscal measures from the underground economy, which has plenty of resources, if authorities manage to collect suc...
VAT Cut To Lower Meat, Fruit And Vegetable Prices - Agriculture Minister
The decrease of the value added tax on meat, fruits and vegetables stipulated in the country's new Tax Code draft will reduce tax evasion and the effects of the Russian embargo, while the pr...
Romania To Lower Excise Duties, VAT Before Yearend - Finance Minister
Excise duties and the value added tax will be lowered before the end of the year, and not in 2016, as established in the country’s new Tax Code Draft, to stimulate consumption in November an...
OMV Petrom Posts Loss In 4Q; FY Net Profit Falls 56%
Romania’s largest company OMV Petrom (SNP.RO) turned to losses in the fourth quarter of 2014, due to the lower oil prices and the negative contribution of its power business.
Romania's Natural Gas Consumption Down 4% Last Year, Electricity Stable - Petrom
Natural gas consumption in Romania declined 4% last year, on lower demand from fertilizers producers and a mild winter, while electricity consumption stagnated, according to OMV Petrom.
Romgaz Net Profit Up 44% To RON1.4B In 2014
Romania’s state-run natural gas producer Romgaz (SNG.RO) Thursday reported a 44% growth in its 2014 net profit to 1.43 billion lei (EUR322 million), fueled by higher delivered quantities and...
OMV Petrom And Exxon Find New Gas Reserves In Black Sea
OMV Petrom (SNP.RO), Romania's largest oil and gas company, and US’ ExxonMobil have found a new gas deposit, following the drilling of the third exploration well in the Neptun block in the B...