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January 28, 2023

Government controversies concerning special construction tax waivers

Energy Minister Razvan Nicolescu stated on Tuesday that he does not agree with special construction tax waivers. The tax should drop from 1.5 to 1 per cent for all market operators.
The minister was asked during a conference on energy issues for his comment on the statements made by Finance Minister Ioana Petrescu, statements concerning oil rigs in the Black Sea receiving special construction tax waivers.
“It’s not fair to publicly comment on the statements of my cabinet colleagues. I expressed within the government the point of view of the Energy Department, I want a system that would not place hurdles before investments,” the minister said. In his opinion the tax should be lowered from 1.5 to 1 per cent for everyone.
“I don’t like waivers. The decisions have to be taken for everyone,” the minister emphasized.
According to the central press, Finance Minister Ioana Petrescu stated in the US that the oil rigs in the Black Sea will receive a special construction tax waiver.
Today the Finance Minister seems to have put an end to the controversy: “The tax will be lowered for everyone from 1.5 to 1 per cent, so we are talking about a 33 per cent drop in this tax starting next year. In what concerns the offshore equipments – because that’s what we’re talking about – they are not found on Romanian territory or within its territorial waters, they are over 12 nautical miles off the Romanian shore. The law, the amendment, clearly defines that this is about special constructions on Romania’s territory or within Romania’s territorial waters,” Petrescu said.

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