BUSINESS

Top 10 debtors to the budget had overdue payments worth RON 14.5 bln in 2012

On the other hand, the biggest taxpayers included five oil companies, three local branches of international cigarette producers, BNR and Romgaz, according to data released by the Ministry of Finance

The top 10 debtors to the general consolidated budget, of which seven were state-run companies, had at the end of 2012 an outstanding debt of RON 14.5 bln (some EUR 3.3 bln) in total, representing taxes, dues and contributions to the state, pensions, unemployment and health budgets, according to data released by the Ministry of Finance. At the opposite end, the top 10 taxpayers doubled their contributions to the budget last year, to RON 29.6 bln (EUR 6.7 bln), i.e. 15 pc of the total incomes of the general consolidated budget.The biggest debtor remained the mining company Compania Nationala a Huilei (CNH), with an outstanding debt of RON 4.7 bln, equivalent to nearly a third of the total debts of the 10 major companies of the top. CFR S.A., the company in charge with the management and maintenance of the public railroad infrastructure, ranked second in the 2012 top of debtors, with RON 3.6 bln. In the 2012 classification of companies that owe money to the budget, after CNH and CFR the third biggest debtor is Galaxy Tobacco (the former Societate Nationala Tutunul Romanesc), which must pay RON 1.6 bln to the budget. This company, too, did not report profit. On the contrary, in 2011 it cumulated losses of RON 11.6 M, according to zf.ro.Societatea pentru Inchiderea-Conservarea Minelor ranked 4th in the top of debtors, with RON 1 bln, followed by Carom Onesti, Romania’s sole producer of synthetic rubber, with a similar debt to the budget. CFR Marfa was the 6th largest debtor, while also being on the list of state companies where the government recruited private managers.UCM Resita, specialised in the production of engines and turbines, owed RON 0.5 bln to the budget at the end of last year and held the 7th place in the top, followed on the 8th and 9th positions by Compania Nationala a Metalelor Pretioase and Neferoase Remin (RON 435 M) and Societatea Nationala a Carbunelui (RON 420 M). Last in the top 10 biggest debtors to the state budget in 2012 comes Tractorul Brasov, with a debt of approximately RON 400 M (EUR 100 M). The collection rate of budget incomes did not improve during the last years and remains around 33 pc of the GDP, under the European average of 40 pc of the GDP.At the other end of the classification, the top 10 biggest taxpayers in 2012 includes five oil companies, three branches of international cigarette manufacturers, along with BNR and Romgaz. Austrian-controlled OMV Petrom had a particular position among the contributors to the budget, with more than RON 8 bln paid in 2012. The next places are held by British American Tobacco (BAT) – with RON 5.6 bln and Rompetrol Rafinare (which operates the Petromidia refinery) – with approximately RON 4.6 bln, according to the Ministry of Finance.

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