6.4 C
January 29, 2022

Excise tax partially returned to road carriers for a period of 5 years

The excise tax introduced in April is to be partially returned to road carriers using Diesel fuel, the system being implemented for a period of five years, until March 31, 2019, following the Government’s decision last week.

Therefore, the ordinance draft that was publicly presented by the Ministry of Finance will be amended, Mediafax reports. According to the original ordinance draft, the partial reimbursement of the excise tax would have applied to Diesel fuel purchased after the legislative act took effect.

The measure to increase the 7 eurocents/liter fuel excise tax took effect as of April 1. Based on Gov’t estimates, the partial return of the additional excise tax will generate a loss of RON 353 million this year in collected revenues. The excise tax reduction is achieved by giving back the 40 euro/1,000 liters difference to EU licensed economic operators.

A week ago, President Traian Basescu explained that the agreement between the PM and road carriers is complicated, because the Ministry of Finance will be receiving trucks full of bills for cars that have never refueled and will have to give back the equivalent of 4 eurocents/liter, which will seriously damage the state budget revenues. In turn, Ponta stated he is convinced the Prosecutor’s Office, ANAF, SRI, and the Antifraud Division are completely prepared to combat any irregularities. The Government estimated that it will draw a total of RON 22.8 billion in excise taxes – 15 percent more than last year – through the state budget, which also included the fuel excise tax collection prognosis.

Related posts

INS: Trade deficit at EUR 6.14 bln after 8 months

Nine O' Clock

2.4 pc-deficit by end of August; figures meet annual target

Nine O' Clock

Romanian banking system back to profit in 2015

Nine O' Clock