02.15.2019

Board members of Romania's central bank said it is essential that the country's new tax on banks' financial assets is disconnected from benchmark rates on the interbank money market rates such as the more

02.14.2019

Romania's tax on banks' financial assets is to be levied quarterly on the quarterly assets balance, an official at the Ministry of Finance said Thursday. more

02.12.2019

Romanian central bank governor Mugur Isarescu said the tax on bank assets is an attack on the independence of the institution, as it hinders monetary policy. more

02.07.2019

The tax on profits commercial banks paid and the transfers from the net revenue of Romania’s central bank reached 1.84 billion lei (EUR388 million) in 2018, up about 80.8% over 2017, the 2019 budget more

01.23.2019

Energy companies in Romania expect losses and are considering staff cuts due to an additional tax the government decided to levy on the energy sector via emergency decree passed in December 2018. more

01.21.2019

In an unprecedented move, the banks in Romania through their leaders warned the government that Ordinance 114 introducing the bank tax will generate economic crisis in Romania and cause a decline in more

01.18.2019

Romanian lender Banca Comerciala Romana (BCR), majority owned by Austrian Erste Group, is reconsidering all its investment plans due to the new tax on bank assets, CEO Sergiu Manea said at a banking more

01.16.2019

The Finance Ministry has a new measure in store that will impact the banking system: provisions will no longer be tax-deductible unless there is a loan or financial-asset loss. more

01.15.2019

Companies listed on the Bucharest Stock Exchange lost 4.3 billion lei (almost EUR1 billion) of their capitalization, which dropped to RON139 billion on Monday, as the plummeting banking stocks pushed more

01.09.2019

The so-called “greed tax” on bank assets will not necessarily affect lending so much as it might prompt bank to cut costs by lowering interest rates on deposits, which are already below the more

01.09.2019

Energy companies and banks, which are among the most traded stocks on the Bucharest Stock Exchange, will pass on to their customers the financial burden introduced by the Emergency Ordinance 118, to more

01.08.2019

Romania's central bank governor Mugur Isarescu said Tuesday after the bank's monetary policy meeting the recent drop in interbank interest rates has nothing to do with the tax on bank assets but with more

01.03.2019

Romanian Prime Minister Viorica Dancila appointed on Thursday economist Mihaela Triculescu as the new chairman of national tax agency ANAF, after she also dismissed former chief Ionut Misa earlier in more

01.03.2019

Romanian Prime Minister Viorica Dancila agreed on Thursday with a proposal made by the country’s finance minister to dismiss the chairman of national tax agency ANAF, Ionut Misa, and will sign a more

12.20.2018

The Foreign Investors Council (FIC), which consists of 123 member companies whose total investments in Romania amount to nearly EUR35 billion, warned Thursday the government's tax plans will affect more

12.20.2018

Romania's SME council CNIPMMR firmly opposes the government's plans to levy new taxes and recommends improving tax collection and public services, the organization said in a statement Thursday. more

12.20.2018

The business sector had a very harsh reaction to the government’s proposed new taxes in banking, energy and telecom sectors, asking it to stop. The Bucharest Stock Exchange lost 11% and fell into more

12.19.2018

The main index of the Bucharest Stock Exchange lost 8.6% by midday Wednesday, in just two hours of trading, losing the entire year's growth on concerns over government plans to impose new taxes. more

12.19.2018

Finance Minister Eugen Teodorovici on Tuesday evening announced new taxes on bank assets, energy and telecom companies, which he intends to use to patch the holes in the 2019 budget. more

11.29.2018

Romania had a tax-to gross domestic product ratio of 25.8% in 2017, the second lowest level among European Union member states, down from 26.5% in 2016, Eurostat data showed. more

11.19.2018

The Finance Ministry is asking tax agency ANAF to improve collection (by 15.3% compared with 2017) to meet the budget revenue and deficit target. more

10.05.2018

Romanian Finance Minister Eugen Teodorovici said Friday that Romanian tax agency ANAF must “aggressively” pursue VAT collection to narrow the gap between collected and expected amounts, even if it more

08.13.2018

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07.20.2018

Romania's tax agency ANAF collected over RON112 billion in tax revenue ion the first half of the year, 13.5% higher compared to the same period last year, it said in a statement Friday. more

04.03.2018

The effective tax rate in Romania’s upstream sector (oil production) rose to 17.4% in 2016 and fell to 13.9% in 2017, while the average in EU countries decreased to 8.8%, according to a study more