Romania’s FinMin drafts ordinance on more fiscal facilities

Romania's Finance Ministry published the draft emergency ordinance that offers new fiscal facilities for companies.

The draft ordinance allows taxpayers that have deferred their dues to the state budget since March to pay them in installments over the next 12 months, Ziarul Financiar reported.

It also includes facilities for the HoReCa sector and the owners of non-residential properties. HoReCa operators are waived specific taxes for the period when they were unable to operate and for the remainder of this year. In the case of property owners, the local administration is allowed to waive part of the property tax if the property has not been used for part of the year, as an effect of the Government's restrictions.

The new facilities are extended "in the context of the Government's measures […] having generated financial problems for most of the companies," which are now facing a severe liquidity crisis.

The rescheduling of deferred debts to the state budget applies only to companies that had no overdue debts when the state of emergency was enforced (March 16). The companies must apply for the new facility by December 15 and attach a payment calendar to their request.

The recipients must pay in time all their regular dues generated by the current activity. They are allowed to adjust the repayment calendar and include debts generated by the current activity only once during the 12-month period.

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