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Bonus from the Fiscal Authorities, another tax amnesty: Who and under what circumstances get out of debt?

Any company that exceeded the due date for payment of the tax liabilities will receive a bonus from the fiscal authorities: the reduction of the penalties calculated at the principal amount.

However, the facility is not avoided of conditions. The most important is the date until the remaining amount must be paid. Note that the reduction will be granted also for the additional obligations established by the fiscal control, that were ongoing at the time of entry into force of the ordinance.

Basically, at the principal amount will be calculated an interest of 0.03% per delay day (7.3% per annum). The government wants to erase the delay penalties cumulated until September 30, 2015 and gives a chance to the companies to pay their outstanding principal amounts  until March 31, 2016.

For example, for a 10,000 lei delay debt (which had the deadline payment 1^st of March 2015), the interest calculated is 1,188 lei and the delay penalties are 792 lei. The company that operates under those conditions, will not pay the amount of 792 lei.

Which are the conditions in order for the companies to benefit by the debt reduction?

The outstanding balance for the delay penalties at September 30, 2015  will be canceled only if:

• until March 31, 2016, the main duties for September 30, 2015 will be paid
• until 30 June 2016 will be paid the interest (of 10.95% per annum) established by the decisions communicated to the principal obligation until the settlement date.
• until the application date for the annulment of the penalties delay, the principal obligations are paid (which have deadline between 1 October 2015 and 31 March 2016)

• until the registration date of the annulment for the delay penalties, all the fiscal declarations should be submitted.
• until 30^th of June 2016,  the request for cancellation penalties must be submitted.

Can be erased also the unpaid penalties, calculated at the accumulated outstanding debts and paid before 30 September 2016 only if:

• until March 31, 2016, the interest will be paid
• until June 30, 2016, the annulment declaration is submitted.

Note that the penalties established in the tax decisions after September 30 will also be included.

The delay penalties for the payment of the amending statements after the previous term of 30 September, can be canceled only if:

• until March 31,2016 the singled obligation rectifying statement will be submitted
• until 31 March 2016, the singled obligation will be paid on the rectifying obligation
• until 30 June 2016, the interest referring to the main obligations will be paid
• until 30 June 2016 the application for the penalties cancellation  will be submitted

Penalties may be canceled for the amounts established in addition by the fiscal control, which is in pending at the effective date of the ordinance, if the principal payment and the interest from the decision imposing  are paid until the deadline.

! The companies which will have the fiscal control in the first 10 days from the commissioned of the law, may submit the declaration, so they can benefit from the tax concessions.

The companies that have deduction will receive derogation to pay the principal obligations for these amounts to benefit by the facility.

Regarding to the local taxes, the penalties will be reduced to only 50% if there isn’t any decision of the local council for this purpose.

Specification: The draft emergency ordinance on canceling delay penalties was discussed by the government in the first reading on October 7 and it will be approved next week.