Within two weeks, Romania’s tax collection agency ANAF will know whether OMV Petrom (BVB: SNP) is subject to the solidarity contribution or – as the major energy company claimed last week – its revenues from activities subject to the new contribution account for less than 75% of the total revenues last year, ANAF head Lucian Heius announced, News.ro reported.

The arbitrary threshold, set by the European Commission in order to define the companies active in the fossil fuel sector, may help the company avoid the contribution, calculated as 60% of the profit above 120% of the average profit in 2019-2021 and charged in addition to the profit tax or other contributions.

Ziarul Financiar explains how the company could have used the loophole in the European regulations: the European Regulation implemented by Romania at the end of December was known since October, and OMV Petrom could have increased revenues from other activities while extracting less natural gas. 

andrei@romania-insider.com

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