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Romania: “Windfall profit tax” on natural gas

Romania: “Windfall profit tax” on natural gas

An amendment to the law governing electricity and natural gas (passed by parliament and published in the official journal in late July 2020) imposes a 90% tax on the difference between the actual purchase price of natural gas and the price imposed as a regulated price—a “windfall profit tax.”

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The “windfall profit tax” will apply only for natural gas having certain purchase prices, and the revenue from this tax will be used to establish a fund to be used for the benefit of “vulnerable consumers” of natural gas.

This tax measure is effective from 30 July 2020 until 30 June 2021.

Read a July 2020 report prepared by the KPMG member firm in Romania

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