Romanian Post brought over EUR 160 M to state budget in two years

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Posta Romana state company (Romanian Post) has contributed in 2014 and 2015, with EUR163 million to the state budget, representing income tax, VAT on commercial contracts, contribution to the state budget and social insurance budgets, a press release informs on Tuesday.

Moreover, last June, the Romanian Post has paid back the whole RON 100 million loan taken from Eximbank in March 2014.

The postal service national operator transferred to the general consolidated budget last year RON 334.6 million (EUR 74.9 million) of which 23 percent, RON 76 million (EUR 17 million) respectively, representing VAT on commercial contracts.

Contributions to social insurance budgets represent 61.6 percent, RON 206 million (EUR 46.2 million) respectively. Also, the income tax paid in 2015 amounted to RON 10.5 million (EUR 2.36 million).

“Posta Romana state company is working hard to maintain fiscal discipline and ensure a positive relation between company‘s revenue and expenses. The wasted years and the defective management of company’s financial resources are heavily hanging on post operator’s activity,” Alexandru Petrescu, General Manager of Romanian Post stated.

Posta Romana ended 2015 with an operational profit of RON 6.8 million. The final result was negatively affected by the fine imposed by Competition Council (RON 33 million) for acts allegedly committed during 2011-2012 that the state company has contested it in the Court.

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