The 2% turnover tax levied to companies in the energy sector under the so-called “greed ordinance” OUG 114/2018, will be eliminated, according to official sources quoted by Economica.net.

But the other provisions pertaining to the energy sector, included in the OUG, will not be amended, the sources said. The annual fee paid by the energy companies licensed by energy market regulator ANRE was hiked from 0.1% to 2% under OUG 114/2018.

Under initial calculations, this would have brought RON 2 billion (EUR 420 million), further exceptions introduced by the government brought down the expected annual collections to RON 600 million (EUR 125 mln). But still, the government failed to explain how would ANRE spend the money.

At the end of last year, the Government adopted an emergency ordinance that brought new taxes for banks, energy companies and telecoms and changes the functioning of the mandatory private pension funds (Pillar II). The ordinance included a tax on bank assets, tied to the interbank interest rate (ROBOR) and special turnover taxes on energy and telecom companies. 

(Photo: Pixabay)

editor@romania-insider.com