New royalty system in Romania combines tax on resources with deductions

The Romanian state will create a new royalty system, which should enter into force on January 1, 2016, combining the tax on natural resources, a tax on profits and a series of deductions for investments in the field. Romania should create a system that enables it to receive similar revenues to countries with similar resources, said Finance Minister Dan Manolescu, cited by local Economica.net. The market wants a system which offers predictability in the longer term, the Minister added. With the new royalty system, the state plans to collect at least the same revenues as with the current system. editor@romania-insider.com