Among a multitude of innovations, ranging from legalizing cannabis to new “greed tax” formulas for banks, Romania’s finance minister Eugen Teodorovici came up again with an older initiative that started with a joke but may end with a full-fledged legal initiative in April: the fiscal amnesty.

Under the latest version mentioned by Hotnews.ro, the subjects will pay the principal of their debts alone, possibly in installments, and the procedure will be valid for the companies under insolvency procedures.

Separately, companies with negative net equity (supposed to be closed down, under existing regulations) will be given a grace period to replenish their capital stock but will be dissolved unless they meet the capital requirement by the deadline.

On March 19, 2019, Eugen Teodorovici announced while speaking for the public TV station TVR 1 that the Government will discuss the fiscal amnesty in April, and the measure will target both the private and the state entities.

"It will be for past [debt]. The business community will receive this proposal very well. It will also apply to those who are in the process of paying their dues in installments. In April, I want to have it [passed] in the Government," Teodorovici said.

editor@romania-insider.com

(Photo source: Gov.ro)