Romania's government approved new regulations on Thursday, via ordinance, establishing a global minimum tax for multinational and large national corporate groups.According to a government press release, the measures are expected to positively impact the business environment by reducing the risk of misinterpretation of rules on additional or national top-up taxes, thereby lowering taxpayers' compliance costs.The normative act also addresses the obligation to update Law no. 431/2023, which transposed EU Directive 2022/2523 on ensuring a global minimum tax for multinational and large national corporate groups, following the observations received during the provisional self-assessment of national regulations implementing the Model Rules (transitional qualification mechanism based on self-certification) established by the OECD."In its ongoing effort to address unfair tax practices that may arise from profits not being taxed where value is created by large multinational corporate groups, the OECD has, since 2015, developed a series of 15 actions aimed at discouraging aggressive tax practices (the BEPS measures). These actions have led to the adoption of concrete measures in the field of international taxation in the subsequent periods," further reads the press release.
Sebastian Burduja, adviser to prime minister Ilie Bolojan and former minister of energy, warned of the security impact of the sale of major dairy Napolact to a group owned by a businessman close to the Hungarian prime minister Viktor Orban, according to
Romania could face energy poverty or even blackouts if coal-fired power plants are shut down before new gas-fired facilities at Iernut and Mintia are completed, energy minister Bogdan Ivan said in an interview with Digi24 on September...
Premier Energy (BVB: PE) has signed an agreement to acquire a 51% controlling stake in Iberdrola Renovables Magyarország, the Hungarian subsidiary of Spain’s Iberdrola. The company owns five operational wind farms with a combined installed capacity of 158 MW, commissioned between 2008 and 2010 in northwestern Hungary, one of Central Europe’s strongest wind regions. The […]
Prime minister Ilie Bolojan set up a committee to follow the pre-insolvency procedures at steelmaker Liberty Galati and its pipemaker subsidiary, Liberty Tubular Products Galati, controlled by billionaire Sanjev Gupta, and protect the rights of the tax collection agency ANAF and Exim Banca Romaneasca as the largest creditors,
Grampet Group, active in railway transportation, through its newly established subsidiary Biturom, has opened the largest bitumen melting capacity in Romania, according to Economica.net. The new facility, designed to deliver liquid bitumen for road construction projects in Romania and the Republic of Moldova, was opened on the industrial platform Rafo Onesti. ...
Romania plans to issue Samurai bonds and contract loans from multilateral banks such as EBRD or EIB to finance other green projects, finance minister Alexandru Nazare said at the CES ESG Conference 2025 in Bucharest on September 18. The country has already issued almost RON 10.8 billion (EUR 2 billion) in green bonds, allocated to […]
