Gov't changes calculation method for oil royalties payable by non-state-owned oil terminals

The government approved on Wednesday the change in the method for the calculation of the oil royalty payable to the state budget by non-state-owned oil terminals, increasing the due percentage rate to 3% of their pre-tax revenues.According to a release from the Executive, a rule set forth in the Petroleum Law is thus implemented. Constanta Port oil operator Midia Marine Terminal SRL falls under the scope of these provisions.The Romanian state ...

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