The changes brought to the consumption taxes - VAT, excise duty, tax on added sugar - as well as the legislation regarding the capping of mark-ups will bring an additional effort of interpretation and implementation, as well as multiple control actions and an increased risk of the application of some sanctions for producers, suppliers, distributors and traders, according to a press release from PwC Romania."These increases come in a context with high inflation. Since they will be reflected in prices quite quickly, they will decrease purchasing power and consumption, affecting both consumers, the population, as well as producers and traders," said Ruxandra Tarlescu, Partner, Inge Abdulcair, CEO, and Catalina Nacev, senior lawyer coordinator D&B David, in the weekly PwC Romania Tax Talks podcast.They talked about the practical aspects of the VAT and excise changes and about the monitoring and control actions of ANAF and the Competition Council.Similar to other EU countries, such as Hungary and Croatia, the authorities applied price cap measures since the summer through GEO 67/2023, with the aim of supporting consumers negatively affected by inflation. Basically, for certain products in the basic basket, the mark-up was capped at 20% for processors and traders and 5% for all distributors in the distribution chain.According to the same source, both the Competition Council and ANAF, through the General Anti-Fraud Directorate, were extremely active in monitoring and verifying the manner of application of the Ordinance and there were cases of effective sanctions for violating the established mark-up quota.According to the abovementioned source, the 5% quota for organic products was repealed, so that for them either the 9% quota or the 19% quota will be applied, depending on the amount of sugar in the product.
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 […]
Two Romanians were injured in an armed incident in Taksim Square in Istanbul on Sunday, November 9. The two were part of a group participating in a cultural event, according to foreign minister Oana Ţoiu. “Last night, in Taksim Square in Istanbul, an armed attack with a pistol also injured two Romanian citizens visiting Turkey. The […]
The 15th edition of Black Friday, organized by retailer eMAG on November 7 this year, generated orders worth over RON 986 million (EUR 193.9 million), 10% more than last year. On a single day, over 702,000 customers ordered 3.5 million products from all categories. Customers bought over 8,500 tickets to festivals and experiences, almost 6.2 […]
The Romanian Film Festival in Washington, D.C will line up for this year’s edition six feature films and documentaries, each accompanied by introductions, post-screening discussions, and Q&A sessions. The event, organized by the Embassy of Romania to the United States and the Romanian Cultural Institute in New York, will take place from November 13 to […]
A total of 58% of the Romanian respondents to a recent Eurobarometer survey believe the war in Ukraine is one of the main challenges the EU is facing. This is higher than the EU average of 47% of respondents who share this belief. The cost of living worries 31% of the Romanian respondents, which is […]
Romania has been elected as a full member of the UNESCO Executive Board for the 2025–2029 term, the first such appointment in 14 years. Romanian officials noted that the country will work closely with other member states to promote dialogue, knowledge, and international cooperation, in the spirit of UNESCO’s principles and the objectives aimed at […]
