01.29.2014

Companies that understate their revenues to the tax authority will be forced to pay penalties of 10% to 25% of the unstated difference, according to a plan part of a set of measures fighting tax more

01.22.2014

The Romanian Government has approved in its Wednesday meeting the memorandum of understanding (MoU) with oil group Rompetrol, people close to the matter said. more

01.16.2014

Construction on Romania’s 53-kilometer Comarnic-Brasov highway is set to start late April and to be completed in 2017 for an estimated EUR1.8 billion, Prime Minster Victor Ponta said Thursday. more

12.23.2013

The government will look into lowering the sales tax on food products other than bread only after July 2014, Romanian Prime Minister Victor Ponta said Monday. more

12.18.2013

The Romanian Government Wednesday approved the decision granting biofuel incentives to companies in the oil sector, people close to the matter told MEDIAFAX. more

12.09.2013

Romanian Prime Minister Victor Ponta Monday said the Government plans to raise fuel excises by EUR0.07/liter only on gasoline, starting January 1, 2014. more

12.05.2013

Romania’s government is trying to persuade oil companies not to hike fuel prices after an increase in fuel excises planned for next year, and offers to delay increases of the share of biofuels that more

12.04.2013

Romania’s Government Wednesday approved a bill whereby women born after December 1970 may retire at the age of 65, similar to men. more

12.03.2013

Romania expects VAT collection to rise by just 3.4% in 2014, up to RON54.6 billion, while total budget revenues are expected to go up by nearly 5% to RON216.8 billion. These forecasts, included in the more

11.27.2013

Romania on Wednesday extended its medium-term note program by three years until 2016 and raised the borrowing ceiling to EUR15 billion, from EUR8 billion previously. more

11.27.2013

Romanian state-owned airline Tarom might resume direct flights to Beijing, China, starting with a frequency of two flights per week, according to a discussion between Prime Minister Victor Ponta and more

11.26.2013

Trade between China and countries in Central and Eastern Europe (CEE) must double in the next five years, as its value is still low, Chinese Prime Minister Li Keqiang said Tuesday in Bucharest. more

11.26.2013

Romania’s government has approved several oil concession agreements in the perimeters Baile Felix, Biled, and Periam, agreements between the country’s National Mineral Resources Agency (ANRM) and more

11.22.2013

Chinese telecoms equipment maker Huawei will open a regional center in Bucharest and will invest in research and education programs in Romania, for which the government has pledged its support, Prime more

11.18.2013

Romania has a low indebtedness level and a high potential for economic growth and any government that cannot create conditions for a growth rate of at least 5% a year should not benefit from voter more

11.15.2013

The new royalty rates levied on mineral resources other than natural gas and oil, which will be increased starting 2014, will apply only to future contracts, said Romanian Finance Minister Daniel more

11.14.2013

The prices of gasoline and diesel oil in Romania will increase by 0.3 lei (EUR0.06) to RON0.4 per liter in 2014, following an increase in fuel excises, Finance Minister Daniel Chitoiu said Thursday. more

11.14.2013

Romania and the International Monetary Fund agreed to give local authorities a free hand to increase taxes on property paid by individuals as much as they feel necessary. more

11.14.2013

Romania’s government and the International Monetary Fund have decided state-run freight railway operator CFR Marfa will be reorganized “aggressively” by cutting staff costs, scrapping old more

11.14.2013

Romania’s government will decide by the end of the year whether it will lease or close 1,600 kilometers of railway lines in 2013 and 2014, aiming to save some 70 million lei (EUR15.7 million) more

11.14.2013

Romania’s government has once again committed to refrain from adopting a long-delayed law on personal bankruptcy, arguing the measure would impair credit discipline, according to the country’s more

11.12.2013

Tax revenues in Romania will increase by 5 billion lei (EUR1.12 billion) next year following tax system changes, which include widening taxable income and the health insurance contribution base and more

11.12.2013

Romania will get additional state budget revenue of RON344 million (EUR77.2 million) from raising the minimum wage, according to an official government document obtained by MEDIAFAX. more

11.11.2013

Romania’s government will keep gross wages in the public sector unchanged in 2014 and only novice teachers will get a raise of up to 10%. more

11.07.2013

The application of a system whereby Romanian firms must pay value added tax upon cashing in invoices will become optional and the government will eliminate regulations obliging firms to pay the VAT in more