An amendment to the Romanian Tax Code, already signed into law by President Klaus Iohannis, introduces a 0.5% turnover tax payable by all oil and gas companies, regardless of their size or profitability, in addition to the 1% turnover tax payable by all companies in the country. the country (whatever their sector of activity) having a turnover of 50 million euros and a profit tax of less than 1% of its turnover, Profit.ro reported.

It is unclear whether lawmakers actually intended to introduce this new tax or whether it is simply incorrect wording, as the initiators of the amendment have announced that they actually want to expand the applicability of the turnover tax to companies in the oil and gas sector with a turnover of less than €50 million.

As promulgated and according to the interpretation consistent with the Romanian language (which may be different from the interpretation of the Ministry of Finance), all companies in the oil and gas sector will be liable for turnover tax of 0 .5% in addition to profit tax (if they have profits) or turnover tax of 1% (if they did not make profits or if their profits were less than 1% % of their figure business).

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