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Bucharest
July 23, 2021
ECONOMY FINANCE&BANKING

FinMin wants to partially extend tax amnesty to interests owed by taxpayers in arrears

The Public Finances Ministry wants to extend the tax amnesty announced at the Government’s meeting on Wednesday to part of the interests owed by taxpayers in arrears, however up to the limit to which the state borrows money from the market.
‘Yesterday [Wednesday] the Government discussed a tax amnesty bill enabling us to write off the penalties of the taxpayers – either individual or companies – who have to pay interests and penalties for delay [in paying taxes – editor’s note], if they pay the main tax and the interests by March 2016. Moreover, we no longer ask for guarantees for such rescheduling. By this write-off, a firm can actually take part in auctions. It is an impetus we want to give the market. In a similar manner, those who file rectifying [tax] returns by March 2016 will not have the penalties to the relevant amounts applied. I would add something – [we seek] besides the penalties to be able to write off at least part of the interests, up to the limit of the cost the state has when borrowing from the market’, Finances Minister Eugen Teodorovici said on Thursday.
According to the planned legislation, the taxpayers having state debts as of Sept. 30, 2015 will be able to benefit from writing off the penalties for overdue payment if they meet all of several requirements, one of them being to pay the overdue amount by next March.
At present, for the late payment of the tax obligations to the state or local budgets, the taxpayers owe interests or penalties for such delayed payment or increased payments, as applicable.

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