AmCham: High guarantees limit tax debt payment re-scheduling in Romania

The American Chamber of Commerce in Romania (AmCham Romania) supports the Romanian Government’s plans to introduce the possibility to reschedule the payment of tax debts administered by the National Agency of Tax Administration (ANAF), according to AmCham. However, the mechanism and the level of guarantees provided by the Emergency Ordinance 29/2011 considerably limits the number of companies that could use the rescheduled payments mechanism, according to AmCham Romania. This would seriously endanger the aim of this Ordinance, respectively to support the business environment and to assist companies in difficulty due to the economic crisis. The Emergency Ordinance 29/2011 was published in the Official Gazette in the second half of March. “The Government’s initiative to assist companies in difficulty, but with growth perspectives is a very good one; however the requested level of additional guarantees, which can reach up to 10 – 40 percent of the owed dues, is quite high”, said Ionut Simion, AmCham Romania Vice-president. Irina Popescu, irina.popescu@romania-insider.com