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Romania to impose special tax on natural resource exploitation

(Xinhua)

13:19, January 22, 2013

BUCHAREST, Jan. 21 (Xinhua) -- The Romanian government is to impose special tax of 0.5 percent on exploitation of natural resources, other than natural gas, according to a draft emergency ordinance published Monday by the Finance Ministry.

The tax will be paid by operators that undertake the extraction and exploitation activities as well as the trading of natural resources, such as timber, crude oil, ferrous ores, uranium and thorium ores, and other non-ferrous metal ores.

The special tax will be applicable between February 2013 and December 2014.

The government has to impose the tax, as the current system of fees and charges will be reviewed only from the period 2014-2015, and the authorities are seeking ways to keep the budget deficit within the limits agreed with the International Monetary Fund, revealed the draft ordinance.

The Finance Ministry also announced to surcharge by 60 percent companies whose activities involve the extraction and sale of natural gas in Romania, tax on the additional income resulting from the deregulation of prices in the industry.

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