Deloitte discusses environmental costs and the updates of the Environment Fund

Increasing productivity and improving cost efficiency are common objectives for most companies, being at the same time a real challenge given the sustainable development issues that must be considered as well as the stricter regulations imposed by the environmental law.

Based on these matters and on the updates related to the Environment Fund that will come into force in 2014, Deloitte approached probably the major issue – ‘How expensive is environmental compliance?’ during a seminar organized on October 22. The event is the first one of a series seeking to discuss the real costs involved by the environmental compliance, identify solutions for strengthening safety measures, prevent environmental destruction, analyze the challenges that arise or find efficient solutions in that regard both considering the costs and operational states a press release.

‘As with other areas, environmental law compliance implies a constant focus, requiring accurate data and periodical self-assessments in order to identify and correct potential deficiencies. But on the long term, companies benefit from such approach, as the cost of control and preventive measures is always lower than that of remediation activities’ Adina Gutiu, Senior Associate in Deloitte’s Legal practice and coordinator of the Environment & Climate Change practice area, said.

Hence, the first seminar focused on examining case studies and the cooperation with the authorities in charge, but also questioned the new regulations on environmental taxes, available from January 1, 2014. These new regulations were introduced at the end of August, this year, through the Government Emergency Ordinance no. 31/2013, an amendment to the Government Emergency Ordinance no. 195/2005. Consequently, there will be a new tax in the amount of RON0.3/Kg payable by economic operators that introduce on the domestic market oils – mineral based, semi-synthetic, synthetic, with or without additives. Also, there will be a RON50/T tax for inert and not dangerous waste materials for disposal and a RON2/Kg tax applied to the difference between the quantities of packaging waste and used tires reported as recovered by authorized economic operators. Additionally, the ordinance stipulates increased fines for companies that do not respect the terms for submitting their statements afferent to the Environment Fund. 

Considering the importance and the widespread applicability of the packaging and oils taxes, these were the most debated during the Deloitte seminar, Daniela Neagoe, Senior Consultant at Customs & Global Trade in Deloitte’s Tax practice concluding: ‘The new contributions to the Environment Fund are intended to stimulate the prevention and recycling of the waste’. 

The seminar series will be carried on by Deloitte and Reff & Asociatii (part of Deloitte Legal) that provide integrated solutions related to environmental challenges that companies face as they adapt to the ongoing changes of regulations, to political, economic and market pressure as well as to technological development given the current global context where ‘going green’ becomes a priority.

May 14, 2021 09:17
A notable success obtained by RTPR representing Electrica group’s electricit...more »
May 12, 2021 08:24
On Friday, the 7th of May 2021, the Bucharest Court of Appeal passed a landmar...more »
April 26, 2021 10:48
April 15, 2021 14:48
Mareș & Mareș announced that it was ranked first in the Legal 500 annual...more »
Govnet Next Events