Offshore bill – adopted by Senate with amendments, may be challenged to CCR The Senate plenary has adopted on Monday the offshore draft bill with the amendments proposed on the same
Offshore bill – adopted by Senate with amendments, may be challenged to CCR
The Senate plenary has adopted on Monday the offshore draft bill with the amendments proposed on the same day by the PSD and ALDE representatives in the parliamentary committees. The draft law was adopted with 81 votes for, 9 against and 15 abstentions. The draft will further on reach the Chamber of Deputies, the decisional chamber. One of the most important amendments reads that the current royalties are to be applied for the petroleum output in the Black Sea. Another amendment reads that, during the entire period of oil agreements, decades ahead, the royalties’ regime and the tax regime will not be changed. Investments made before and after the bill comes into force will be deducted.
Dragnea, about the offshore law: 50% of gas production will be sold in Romania
„There have been some amendments to the Chamber of Deputies this summer, which, in addition to the Senate, provided for some things, namely: an extra income tax, which can go up to 13.2 billion 50% of the gas production is traded on the Romanian stock exchange, and these two things have remained unchanged … (…) There is absolutely nothing to change from what I said this summer, the Romanian state will have the same major benefits, namely 50% of gas production, to be traded on the Romanian market, and the additional income tax, which comes in addition to royalties. The third issue that was actually removed from the Chamber of Deputies: no freeze general taxation, but only the specific tax regime for offshore, that is the respective royalty and the additional income tax, „he said in a statement given to the press at the Palace of Parliament.
The PSD changed its mind on the Offshore law. Commission President: We will have the final form next week
Industry Committee Chairman Iulian Iancu (PSD) announced during the debates on the Offshore Bill that he decided, following the discussion with Liviu Dragnea, to postpone adoption for next week, this being „a study week”.
European companies face taxes on fuel 18% higher than world average. Romania is above the global indicator
European companies face taxes as a percentage of the price of fuel on average 18% higher than the world average, putting them at a serious disadvantage and potentially risking economic growth, shows a new study by UHY, the international accounting and consultancy network. UHY explains that on average taxes comprise 59% of the cost of the price of petrol and 52% of the cost of the price of diesel, compared to the global averages of 50% and 44% respectively.