Daniel Anghel, PwC: Romania needs EUR 14 billion for rehabilitation of contaminated sites in the next 30 years
2012-04-05 15:42:12
For the next 30 years, Romania should find from different financing sources, an estimated amount of EUR 14 billion in oder to rehabilitate the existing contaminated sites , an estimation of 547,083 places and deserted facilities, numbered countrywide, according to Daniel Anghel, PwCPartner-Indirect Taxes. The financings should be atracted using the EU funds, state budget and environmental fund, loans from EBRD, BEI and money coming from public private partnerships. Also, according to the specialist, the Romanian authorties shluld involve by promoting dfferent taxs incentives as VAT exemption for goods & services needed for decontamination, deduction for profit tax purposes of cost of decontamination, profit tax exemption, reduced local taxes or VAT reverse charge mechanism. For instance, in UK, there is a 150 percent tax relief for company, for remediating contaminated land or long-term derelict land. Also, the UK authorities enforced specific restrictions around ensuring that the polluter (or any connected party) does not benefit from the tax relief. In Czech Republic, there is a brownfield state aid scheme for conversion of a building into a business facility and a grant between CZK 1 million and 20 million for 40-60 percent of eligible costs. At European level, Romania states 1.88 percent environmental tax revenues within the GDP in 2009, compared with the European level which was estimated at 2.43 in 2009.
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