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Summer tax vibes - restructuring of tax obligations and amnesty for accessories bill enacted

07 August 2019

  • Taxpayers who do not qualify for rescheduling of taxes under existing legislation may apply for this procedure within 6 months from publication
  • Accessories for overdue principal tax obligations under RON 1 million (~EUR200,000) as of 31 December 2018 may be pardoned
 
Summer tax vibes - restructuring of tax obligations and amnesty for accessories bill enacted

The Government Ordinance no. 6/2019 has been published today, 6 August 2019, enacting legislation that should help legal entities (private or public) to reschedule tax obligations even if they do not meet the conditions that currently exist under the Fiscal Procedural Code. The main novelty is the requirement to have a private investor test performed by an independent expert attached to the restructuring plan, which will present the possibility to repay the taxes within a timespan of three years, undergoing a true out-of-court restructuring. The request should be lodged with the relevant tax authority no later than 6 months after the publication of the Government Ordinance.

The GO provides also that accessories (interest and penalties) pertaining to principal tax obligations overdue until 31 December 2018 and amounting to maximum RON 1 million (~EUR200,000) shall be annulled.