ECONOMY FINANCE&BANKING

Gov’t to pass tax amnesty ordinance in its Wednesday’s sitting

Prime Minister Victor Ponta announced that the Government will pass in its Wednesday’s sitting an ordinance for a tax amnesty for individuals and companies.

According to him, the budget revenues will thus increase more than by possible penalties.

“No one is exempt from taxes and duties. Everybody has to pay it. We do not exempt from interests; these are paid, too. Practically, we’re talking about a stimulus. I think there will be many companies and individuals who can access this stimulation, namely if one pays starting from now their taxes as due, on a daily basis, if one pays the principal, they are exempted from penalties to penalties. (…) With penalties to penalties, we end in bankruptcy, instead of having a company that pays its outstanding debts and the interests; we’ll have a bankrupt company,” the prime minister explained before the meeting of the ruling Social Democrat Party leadership at the Parliament Palace on Monday.

According to Ponta, the system is considered to reward the good payers.

Under the draft legislation, taxpayers in debt with the state on September 30 can have their penalties cancelled under several conditions, including the payment of overdue debts by March 2016.


FinMin Teodorovici: Tax amnesty, applicable to all taxpayers

Finance Minister Eugen Teodorovici said on Sunday, in Buzau, that the draft tax amnesty launched a week ago could be adopted by the Government in the coming weeks, and it would be applied both to legal entities and individuals.

”Our proposal is that it should be applied to all taxpayers, no matter if they are individuals or legal entities. I believe it is a boost that we must give to the economy, in conjunction with what the Tax Code will bring in 2016, because of the state will receive more revenue by March 2016, when there is the actual need for money, and those with constraints related to tax penalties can have a new beginning in the economy,” the finance minister told Agerpres.

He added that a reward system for those who have paid their penalties and for those with no tax-related debts was considered.

Minister Teodorovici said benefiting from this ordinance will be those who will establish a payment calendar to the state.

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