Romania to Tax Windfall Profits of Energy Companies

Romania is set to become the latest European country to tax windfall profits of energy companies, a governing party official said Tuesday.

According to Mihai Tudose, vice president of Romania’s Partidul Social Democrat, specifics of the tax would be announced via a government decree Wednesday or Thursday.

But it would rely on reference prices, and proceeds would be used to compensate both companies and individuals for this year’s energy price increases, Tudose said at a news conference Tuesday.

• Romania’s announcement follows decisions by countries such as the United Kingdom to impose a 25% windfall tax on oil and ...