Romania’s new excise system to be discussed in November with the IMF
The new system of oil and gas excises will be discussed with the International Monetary Fund (IMF), the European Commission and the World Bank at their next visit, scheduled for November, said Romanian Prime Minister Victor Ponta.
A report on the new excises system is being drafted with support from the World Bank, and the result of the discussions with international financiers will be made public.
The changes will differentiate between types of mineral resources, for on-shore, off-shore and deep off-shore, and not so much increase the level of the excise itself. Under the current legislation, excises vary between 3% and 15% of the hydrocarbon production. They were set in 2004 and are valid until December this year.
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