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Regulation of tax measures

Monitorul Oficial al Romaniei no. 320/3 June 2013 has published Government Emergency Ordinance no. 50/2013 which regulates tax measures.  It contains the following provisions:

 –   Penalties for late payment of taxes:

  • Starting 1 July 2013 the penalty for late payment of taxes shall stand at 0.02% for every day of delay in the fulfilment of any such obligation which becomes overdue after 1 July 2013.
  • The aforesaid penalty shall not eliminate the obligation of late taxpayers to pay interest applicable at a 0.04% rate to the overdue amount for every day of delay.

 Amendment of Government Emergency Ordinance no. 29/2011 which regulates payment rescheduling

The provisions contained in the above-referenced Ordinance shall become effective on the date of its publication in Monitorul Oficial (i.e. on 3 June 2013), excepting certain provisions that come into force on 1 July 2013.

– New regulations regarding tax deferrals for economic operators that are to receive certain, liquid, due and payable amounts from the authorities administering European funds:

  • The payment of taxes may be deferred in consideration of the amount which should be received from such authorities, as well as of how old the tax obligation is.
  • The payment of taxes may not be deferred in the case of:

ü taxpayers undergoing insolvency proceedings;

ü taxpayers that are subject to enforcement proceedings initiated by another creditor that garnished the amounts which should be received from the competent authorities;

ü taxpayers that are subject to payment rescheduling.

  •  The Ordinance provides for the manner in which taxes may be deferred.

 These provisions come into full force and effect on the date of publication of this Ordinance in Monitorul Oficial (i.e. on 3 June 2013).

TAX ALERT by Mazars Consulting / MAZARS ROMANIA

* Note: You may find Romanian, German and French versions of the newsletter in Mazars’ archive

* TAX ALERTcontains a selection of the latest major issues occurred in the Romanian legislative framework, is intended only to provide information and, hence, shall not be deemed to provide professional advice or consultancy.  Therefore, we assume no responsibility in this respect.

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