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Policy & Regulation

Romania’s new energy company taxes will hit market severely – OMV

A draft bill to introduce new taxes on energy companies operating in Romania will have a strong negative impact, Romania’s OMV Petrom has said
By Staff reporter 20 December 2018 Europe & Russia / Policy & Regulation 0 33763

A draft bill to introduce new taxes on energy companies operating in Romania will have a strong negative impact on the country’s energy sector, Romania’s OMV Petrom, a subsidiary of Austria’s OMV, warned in a note on Thursday.

Romania’s Energy Ministry announced on Wednesday that it intends to introduce new corporate taxes in the finance and energy sectors as part of a plan to collect RON 10 billion ($2.5 billion) to reduce the country’s deficit.

One proposal is to cap the gas price at...