New draft law may impact big investment projects in Romania

Big investment projects in Romania, both public and private, will be impacted if a bill drafted by the Environment Ministry is adopted. The draft law introduces a new tax of 1% of the value of each investment project, which should finance a study on the environment impact of the whole project, including the building, operating, and demolishing phases, local Profit.ro reported. The Environment Ministry argued that this bill transposes a European Directive (no. 52/2014), but this directive doesn’t include the 1% tax included by the Romanian authorities. Representatives of the business environment have already challenged this initiative, during the consultation period for the new bill. They say that nothing justifies the 1% tax rate. editor@romania-insider.com