TAXATION On 1 August, some of the fiscal measures introduced
recently by the coalition government made up of the National Liberal Party,
Social Democratic Party and the Democratic Union of Ethnic Hungarians in
Romania take effect. On Monday the tobacco excise duty is to increase, as is
the tax on gambling gains. Changes are also operated as regards salaries in the
construction industry, agriculture and foodstuffs, where the ceiling for
certain tax rebates will be lowered. Further changes to the Fiscal Code will
take effect early next year. For example, in the hospitality industry VAT will
be raised from 5 to 9%, while the VAT for non-alcoholic beer and for sugary
drinks will be raised to 19%. Sales of houses bigger than 120 sq.m. or for prices
of over EUR 120,000 will also carry increased VAT. According
to government estimates, these changes will bring the state budget an
additional EUR 243 million this year and some EUR 2.1 billion in 2023.
FESTIVAL Medieval
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The plenum of the Romanian Senate has adopted amendments to the offshore law. Delayed for a long time, the law regulates the operations regarding the development and exploitation of oil deposits in the offshore perimeters, off the Romanian Black Sea Coast in the Black Sea, as well as of deep oil deposits in onshore perimeters. The bill amending the offshore law establishes the distribution of 40% of the profit obtained to the investors and 60% to the Romanian state, which has the right of pre-emption to gas acquisition. During the meeting, the Energy Minister, Virgil Popescu, highlighted that this law would ensure Romania’s gas security in case of an energy crisis, pointing out that Romania could also become a provider of regional energy security, after it will produce more than it will consume.
He added that the first gas from the Black Sea could be extracted starting with the second half of this year. At the same time, the new law increases the investment deduction
Resignation. The president of the National Liberal Party Florin Cîţu says he is resigning from this position. A number of local branches have called for his replacement as leader of the party. Openly backed by president Klaus Iohannis, Cîţu was elected leader last September, winning against Ludovic Orban after a tense party congress. The National Liberal Party is in the ruling coalition together with the Social Democratic Party and the Democratic Union of Ethnic Hungarians in Romania.Autism. The presidential palace in Bucharest will tonight be lit in blue
to mark World Autism Awareness Day. The president s office issued a statement
saying it hails the efforts of civil society to help improve the life of people
with autism and supports the promotion of inclusive polities allowing those affected
to reach their maximum potential. The government is also joining the Light It
Up Blue international campaign, with the government headquarters also to be lit
in blue. Prime ministe