Price Fixing Talks Spark Fiscal Probe At Romanian Oil Cos

Romanian fiscal authorities Wednesday started a series of unannounced inspections targeting the pricing algorithms, taxable profits and accounting methods of oil companies, according to Sorin Blejnar, the president of tax authority ANAF.

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If law violations are noted in these inspections, then authorities will launch a full fiscal investigation of the company in question, Blejnar said Thursday

Romania's Competition Council recently said preliminary data in its investigation of oil companies did not reveal law breaches regarding the fuel price increases. In the first quarter, the Competition Council will complete an investigation on the fuel sale market, which was started back in 2005 and resumed in 2009, after the team in charge was changed.

Romanian Prime Minister Emil Boc said the government may introduce specific counter measures on the market, as special purpose taxes, against the producers who rapidly and unjustifiable increase the fuel price. The prime minister said he asked the Competition Council to verify if there is any monopoly on the local fuel market, and the fiscal authority ANAF to analyze the profits of oil companies activating in Romania.

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