Romanian government corrects ambiguous provision on turnover tax levied to oil companies
<p>The Romanian oil, gas, and fuel companies with a turnover of more than EUR 50 million will continue to pay the minimum tax on turnover of 0.5% – not 1.5%, as a Fiscal Code provision recently passed by lawmakers and promulgated by the president seemed to suggest,<a href="https://www.economica.net/petrolistii-scapa-de-triplarea-impozitului-pe-cifra-de-afaceri-rompetrol-era-cea-mai-afectata-companie-guvernul-repara-ce-stricase-parlamentul_793352.html?mc_cid=2e2b1ac90e&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank"> Economica.net</a> reported.</p>

<p>On December 4, the government adopted a regulatory act that, among other things, modifies some provisions of the Fiscal Code, some with a direct impact on companies in the oil and gas sector for which a law recently adopted in Parliament and promulgated stipulated the tripling of the turnover tax, from 0.5% to 1.5%, starting next year.</p>

<p>The government has now decided that companies in this sector, which already owe a turnover tax of 0.5%, are exempt from the obligation to pay the general 1% turnover tax imposed on companies with annual turnovers of over EUR 50 million.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: <a href="https://www.dreamstime.com" rel="noopener" target="_blank">Dreamstime.com</a>)</em></p>