Romania: Waiver of late-payment penalties, interest

Romania: Waiver of late-payment penalties, interest

Romania’s government in October 2015 issued an “emergency ordinance” that allows for the “cancellation” of penalties and interest imposed for the late payment of taxes.

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Under what resembles a tax amnesty program, the ordinance provides that late-payment penalties and an amount equal to 54.2% of interest imposed for late payments of tax may be waived for certain taxes under the administration of the central tax authority (ANAF):

  • Tax obligations unpaid as of 30 September 2015
  • “Tax differences” declared by taxpayers in amended or rectified tax returns reporting correct tax obligations, and due before 30 September 2015

 

Read an October 2015 report [PDF 114 KB] prepared by the KPMG member firm in Romania: Tax concessions relating to late payment interest and penalties

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