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The emergency ordinance that enacts the fiscal scheme for the restructuring of loans was due for approval during a cabinet meeting yesterday, PM Victor Ponta announced.
The fiscal scheme for the restructuring of loans, called ‘Electorata’ by the press, will apply only to the people who obtained gross monthly incomes below RON 2,200 but with the reduction of the ceiling with which the bank can cut the monthly payment from 50 to 35 percent. Deductions will not be applied for other forms of income, other than those obtained from dependent activities from the base function.
The fiscal scheme is optional for both debtor and creditor and will be applied to the clients that demand the restructuring of loans taken from banks and financial non-bank institutions (Romanian legal entities and branches of foreign financial institutions) listed with the General Register of BNR.
The deduction is granted on monthly basis, starting with the rights representing incomes from wages and pensions pertinent to January 2016, for one single source of income and represents the installment from the period by which the duration of the initial loan is extended, but no more than RON 900, in certain conditions, based on justification documents issued by the lender.
The restructuring must cumulatively meet several conditions, the first of which restricts the enforcement to loans without delays or with maximum 90 days of delay.
The regulated restructuring can be applied only once for a natural person, to one or several loans, on condition that the total sum delayed from payment ranges within the limit of 900 RON/month.
The takers of restructured loans are entitled to the deduction from their monthly net income from salaries of a sum under the form of special deduction for credits, granted for every month of the taxable period, only for the incomes from salaries achieved at the place where the base function exists, mentions the draft act.
In the case of loans in foreign currency the RON equivalent of the granted deduction is established using the exchange rate of the National Bank of Romania for the day when the payment was made, communicated by the National Bank of Romania the previous day.