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.
Romanian director Radu Jude has won the Silver Bear for Best Screenplay for Kontinental '25 at this year's Berlin International Film Festival/ Berlinale. Kontinental '25 is Jude’s third film awarded in Berlinale’s main competition, after Aferim!, which earned...
With nearly 1,300 real estate transactions in 2024, the company tripled its sales volume compared to 2023. The total value of real estate transactions reached EUR 146 million in 2024. There were 114 transactions in January 2025, double the number in January 2024. With a total of almost 1,300 real estate transactions, North Bucharest Investments […]
Forvis Mazars Group, the international audit, tax and advisory services partnership, releases today its annual CEE M&A report, prepared in association with Mergermarket. It reveals that dealmaking in the CEE region suffered a decline in overall deal value, although a marginal rise in deal volume shows the market’s underlying robustness. The Investing in CEE: Inbound […]
With a total of almost 1,300 real estate transactions, North Bucharest Investments (NBI) managed to triple its sales volume compared to 2023, and the total value of transactions reached €146 million in 2024. This amount reflects an increase of 133% compared to the previous year and consolidates the company's leading position on the real estate […]
French president Emmanuel Macron said that Russia manipulated elections in Romania and that the cancellation of last year's presidential elections did not shock him as a result of that intervention. Macron made the comments during a session of questions from users on social media regarding the situation in Ukraine. Over one hour, he...
Romania’s Ministry of Education released the latest edition of the National Metaranking, identifying the top universities in the country. The ranking has undergone minor changes compared to last year’s edition or the last independent metaranking published in the fall by academic experts. The Transilvania University of Brașov has entered the top 5 universities in Romania, […]
