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.
“Catane,” a dark comedy inspired by real events and directed by Ioana Mischie, is set to have its first special screenings in Romania after a successful festival circuit. The film had its world premiere at the IFFI Goa festival in India and was nominated this year at the Hollywood Music in Media Awards for Best […]
Romania is among the European countries where water reserves are decreasing at an alarming rate, according to an analysis carried out by researchers from University College London in collaboration with The Guardian and Watershed Investigations. Scientists analyzed data from the period 2002–2024 provided by satellites that monitor changes in the Earth's...
George Smyth, 18, went missing on a hike near Romania’s famous Bran Castle more than a week ago. On November 23, the British citizen started to suffer from hypothermia and exhaustion and called the emergency services. Trying to locate him, mountain rescue services conducted searches over the next few days but were only able to […]
Over 107,000 people in Prahova and Dâmbovița counties, in southern Romania, have been without drinking water since Friday, November 28, due to problems at the Paltinu Dam. According to local authorities, the problems are set to persist until next week. The dam registered a drop in water levels, leading to problems in the water distribution system. […]
A special ‘Silent Day’ event will be held at the Bucharest Christmas Market in Constituției Square on Wednesday, December 3, aimed at creating a quieter and more accessible environment for children with sensory disabilities. The initiative is designed to make the festive market manageable for children who may struggle with loud noise, bright lights, and […]
Romanians have the highest level of trust in others in the European Union, according to the most recent Eurostat data for the year 2024, ahead of the usual leader of the ranking, Finland. The indicator ‘trust in others’ measures a person’s trust in people they do not know on a scale from 0 (‘I...
