Romania's price gouging legislation will have clear provisions defining excessive pricing, Chairman of the Trade Competition Council Bogdan Chiritoiu told a conference on Tuesday on trade competition challenges in a new economic context organised by the Competition Council and Pria Events.
"The price gouging law is being currently approved. There were also consultations with the business community. Just last week, there were meetings with various business groups. In general, we have the text with which we started. It's more clarity. The most important change is that when the government says that certain products are at risk of price gouging, we will tell you what we mean by excessive pricing. We tell that on a case by case basis. We'll see. If we talk about a product, we see the market conditions at that time and we will say the price is above a certain level or the markup is above a certain level that is excessive pricing, so that companies can be sure that they will not be fined."
Chiritoiu mentioned that fines go up to 500,000 lei, but what is important is not the pecuniary penalty but banning a certain behaviour, the confiscation of the goods and the confiscation of the incorrect proceeds.
Asked who is in charge of pricing control, he said that in relations between companies the control power belongs to the Competition Council, and between companies and consumers to the National Consumer Protection Authority. The organisations will collaborate with the tax administration authority (ANAF), which has data and will be able to base its decisions on the analyses provided by the Tax Office.
AGERPRES.
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