President Klaus Iohannis promulgated on Wednesday the normative act for amending and supplementing Law no. 256/2018 on some measures necessary for the implementation of oil operations by the holders of oil agreements regarding offshore oil perimeters, the Presidential Administration announced.The law was passed by the Chamber of Deputies last week, as a decision-making body. According to the law, the Romanian state will collect 60% of taxes and duties for the gas from the Black Sea. The law stipulates that producers will pay additional tax when the price of gas will exceed 85 lei / MWh, compared to 45.71 lei / MWh, as established by the law in 2018. The tax increases progressively depending on the price of gas: 15% of the additional revenues obtained as a result of prices higher than 85 lei / MWh and less than or equal to 100 lei / MWh; 30% of the additional revenues obtained as a result of prices higher than 100 lei / MWh and less than or equal to 115 lei / MWh; 35% of the additional revenues obtained as a result of prices higher than 115 lei / MWh and less than or equal to 130 lei / MWh; 40% of the additional revenues obtained as a result of prices higher than 130 lei / MWh and less than or equal to 145 lei / MWh; 50% of the additional revenues obtained as a result of prices higher than 145 lei / MWh and less than or equal to 160 lei / MWh; 55% of the additional revenues obtained as a result of prices higher than 160 lei / MWh and less than or equal to 175 lei / MWh; 60% of the additional revenues obtained as a result of prices higher than 175 lei / MWh and less than or equal to 190 lei / MWh; 70% of the additional revenues obtained as a result of prices higher than 190 lei / MWh. According to the law adopted by the Parliament, investors can deduct a maximum of 40% of the total tax on additional income, for investments made in the upstream segment, compared to 30% at present. It also removes the obligation to sell 50% of domestic production, with the government only being able to intervene in crisis situations. The law also establishes that Romania will have the right of preemption for the purchase of natural gas, ie it will be able to cover the domestic needs before selling the surplus for export. The new law also stipulates that the royalty regime and the specific tax regime will not change, in any form, for or against investors, for the duration of the agreements.
President Nicușor Dan stated on Monday, November 10, that Romania meets all the conditions to become an innovation and production hub in the defense industry in Southeast Europe. “Romania meets all the conditions to become an innovation and production hub in the defense industry in Southeast Europe. Why? First of all, because it has a […]
Officials in the mountain resort town of Râșnov, central Romania, have issued an urban planning certificate for the transformation of a Boeing 737 airplane into a premium accommodation unit. The plane will be placed near the famous Bran Castle, and organizers expect it to become a tourist attraction. “The project is located in the Pănicel […]
Traffic (Jaful Secolului), a Romania-Belgium-Netherlands co-production directed by Belgian-Romanian director Teodora Ana Mihai from a screenplay by Romanian filmmaker Cristian Mungiu, has received the award for best film at the Tertio Millennio International Film Festival in Rome. The jury of the festival noted in its motivation the film's "ability to combine formal rigor and human […]
The Romanian Justice Ministry advanced a legislative initiative according to which femicide could be punished with life imprisonment. The proposal comes after numerous women were killed this year by former partners, despite protection orders. The debate about femicide in Romania was brought back to the fore after another tragedy took place on Saturday, November 9, […]
Cultural center Apollo111, located in downtown Bucharest’s Universul Palace, has announced the program of arthouse films Apollo111 Cinema. The performance venue of Apollo 111 has been refurbished and endowed for professional film screenings. It will run a weekly program of contemporary and classic auteur films, meetings with filmmakers, and an experimental area, meant to “explore […]
Chinese consumer electronics manufacturer Xiaomi announced the official opening of its first own store in Romania, in Bucharest, inside the ParkLake shopping center, on the ground floor, on November 22. The new store will have a surface area of 150 square meters and will bring to the public the latest smartphones, accessories, and smart devices […]
