Companies that had on September 30 debts to the state budget will be exempt from penalties for late payment if they pay by March 31, 2016 their main obligations of payment, and until June 30 the interests, a draft emergency ordinance of the Ministry of Finance reads. Currently, the taxpayers have to pay, for late payment of tax liabilities, interest and/or penalties or increases for late payments. The new law will practically cancel penalties for late payment obligations related mainly to the state general consolidated budget, outstanding by September 30, 2015, hotnews.ro informs.
According to sources close to those who drafted the project, the ‘forgiven’ amount would peak to several hundred million RON, but a problem of moral hazard could surface: many who are now paying for the fear of ANAF will ‘push’ the principal payment towards March 31, because the penalties will be annulled anyway.