Romania grants fiscal amnesty to firms paying overdue tax debt by Dec 15

Florin Citu Ludovic Orban
Inquam Photos / Ilona Andrei

Romania’s government will offer a tax amnesty to taxpayers owing money to the budget before the coronavirus outbreak, in a bid to boost budget revenues and help cororonavirus-hit business.

Both individuals and companies can apply for the facility which applies to money owed up until the end of March.

The move aims to improve tax collection, the finance ministry said in a statement.

The government expects the tax amnesty to increase budget revenues by 2 billion lei, about 414 million euros, or some 0.2% of the Gross Domestic Product this year.

Companies that will pay their dues to the state budget before mid-December will not be required to pay any interest or penalties on their tax debt arrears, even though the original payment deadline has passed.

Finance minister Florin Citu said  last week that the government is not planning any tax hikes to cover a rising budget deficit amidst the coronavirus pandemic.

Tax liabilities declared by taxpayers, or established by the tax authority after March 31, but related to the taxpayers’ activity before the end of March will also benefit from the tax amnesty.

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