Romgaz could enter foreclosure procedures for not paying dividends to the state

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Romgaz estimates that it may enter enter foreclosure procedures by the National Agency for Fiscal Administration (ANAF) for not paying dividends to the state, according to GEO 114/2018, although it challenged in court the ANAF report, the report on the financial results of the gas producer shows.

Romgaz Group registered a provision of 26.1 million lei following the economic-financial inspection carried out by the National Agency for Fiscal Administration (ANAF) regarding the complaying to the provisions of GEO no. 114/2018, respectively art. 43 in connection with the distribution in the form of dividends of 35% of the existing reserves on December 31, 2018, according to Agerpres.

“ANAF considers that the dividends granted to the Romanian state as a majority shareholder should have been higher by 24.3 million lei; to this amount are added penalties for late payment of these dividends. The company challenged in court the report issued by ANAF, but estimates that ANAF will foreclose the company for this amount before the end of the litigation,” explain the representatives of the energy company.

The gas producer Romgaz obtained, in the first nine months of the year, a net profit of 941.9 million lei, decreasing by 20.52% compared to the similar period of last year.

The turnover was of 2.918 billion lei, lower by 23.01%.

Natural gas production was of 3.197 billion cubic meters, 19.0% lower than in the first nine months of 2019.

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