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violating the established mark-up quota.According to the abovementioned source, the 5% quota for organic products was repealed, so that for them either the 9% quota or the 19% quota will be applied, depending on the amount of sugar in the product.
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 […]
The Government of Romania may draft several separate ordinances to legislate the fiscal measures initially included in a law, part of the second package of budgetary reforms, partly rejected by the Constitutional Court. The provisions put forth by the ruling coalition in a single law initially include critical measures, such as the "tax on [foreign] […]
The Constitutional Court of Romania (CCR) published its detailed ruling (motivation) on the magistrates’ pensions law on November 7. This should trigger the Government’s procedures for re-launching the law, according to statements by Prime Minister Ilie Bolojan and Social Democrat leader Sorin Grindeanu, who argue for different strategies. While PM Bolojan wants the same bill […]
Romania’s state-controlled electricity distribution and supply company Electrica (BVB: EL) has submitted a non-binding offer for the acquisition of Distribuție Energie Oltenia (DEO), the electricity distribution company controlled by the Macquarie investment fund, according to
The Government of Romania, through its seaport company Administratia Porturilor Maritime (CNAMP), is close to buying Moldova's largest port, Giurgiulesti (PILG), from the European Bank for Reconstruction and Development (EBRD), announced Romania's Minister of Transport, Ciprian Șerban, speaking for
