Romania Cuts Excise Duty for Diesel, Adds Windfall Tax on Firms

Romania’s government approved a new set of measures to limit the surge in fuel prices by lowering the excise duties for diesel by 0.3 lei per liter, cabinet spokeswoman Ioana Dogioiu says.

• The cabinet of Prime Minister Ilie Bolojan has also introduced a so-called “solidarity tax” amounting to as much as 60% of the additional profit obtained by companies that extract and sell oil from local production and benefit from the surge in international prices, according to Dogioiu
• “This tax will not impact the investment plans of the companies and is applied only to the extraordinary profits obtained in this ...