The government adopted at its meeting on last Friday a regulatory act providing for the obligation of all legal entities with activities in the oil and gas sector to pay the additional turnover tax."According to the new regulations, all legal entities that operate in the oil and gas sectors are required to pay the additional turnover tax. The ordinance indicates the NACE codes associated to main or secondary activities in the oil and natural gas sectors, clarifies the scope of application of the additional turnover tax, by establishing specific rules for the payment obligation for foreign legal entities that either individually or in a form of association deliver goods, provide services on the territory of Romania or deliver goods from Romania's territory, conducting activities in the oil and natural gas sectors, but which have not a registered permanent seat in Romania," a government release states.The Executive mentions that in order to reduce the tax default risk, rules are set in place for the respective legal entities to pay a security of 1,000,000 euros, as well as rules for the appointment of a representative for the calculation, statement and payment of the said tax.The ordinance also provides for the exclusion from the scope of the additional turnover tax, under certain conditions, of taxpayers who collect income from the sale of solid fuels, naphthalene, heating oil, lamp oil, hydrogen, lubricating and cooling products.The regulatory act also establishes rules for the enforcement/exit from the taxation system, for legal entities that begin/end operating in the oil and natural gas sector, clarifies that the additional turnover tax does not fall within the scope of Romania's double taxation avoidance conventions with another state, and introduces the necessary technical correlations required by the proposed amendments/additions.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
