EC Oltenia between protecting the employers and respecting the law

The disputed 2% turnover tax applied to the energy companies, hastily introduced by Dancila Gov., will have a major negative impact on EC Oltenia that rise up to 65 million lei per year. As Razvan Nicolescu stated, if the tax had not been introduced, CEO miners wages could have been increased up to 20% or even more. Several negotiations and tensed discussions took place between syndicates and Min. Energy representatives, Doru Visan – State secretary. According to the latest conclusions, the CEO workers’ salary can not be increased more than 10-12%.

Source:  HOTNEWS

Lack of good news – GEO 114 impact

Dispiriting scenarios regarding GEO 114 are carried forth by Financial Supervisory Authority (ASF).  After Pilar II changes some administrators could exit the market / If only 1% of participants move their contributions to the public system, companies will only make profit in 2021.

Besides the bad news and negative impact forecasts, ASF approved the GEO 114.

Source: HOTNEWS

ANRE published the methodology for 2% tax applied to energy companies

Anyone who holds a license in the field of electricity and / or natural gas will be obliged to pay a 2% tax on 2018 turnover to the National Regulatory Authority for Energy (ANRE). Until 20 February, all license holders must report to ANRE an estimate of the turnover achieved in 2018 in energy activities, according to the calculation methodology published by ANRE. If it does not meet the deadline, the 2% tax will apply to the entire business. For example, if a firm has activity in energy supply but also in different types of production, and does not send the required data until February 20, it will have to pay 2% on all its businesses, as reported to the Ministry of Finance.Source:  HOTNEWS