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Transitional measures regarding the guarantee letters for covering excise duties payments – deadline March 31st 2016

Under the new provisions, the guarantor must be a bank registered in the European Union and European Economic Area, which is authorized to operate in Romania (i.e. through a branch).

What does it mean for you?

If you carry out operations with excisable products, you must make sure that your bank guarantor is authorized to operate in Romania (i.e. holds a branch here). If not, you must ensure that you will resubmit a new guarantee letter under the new conditions, within the deadline mentioned above.

Pieter Wessel
Partner, DELOITTE România

Mihai Petre
Senior Manager, DELOITTE România

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