Law no. 114/2020 came into force on 11 July 2020, thereby approving Government Emergency Ordinance no. 90/2020 for the amendment of Government Ordinance no. 6/2019 on the establishment of fiscal facilities and the amendment of other normative acts

15 Jul 2020

In brief

Law no. 114/2020 amends Government Ordinance (GO) no. 6/2019, as amended by Government Emergency Ordinance (GEO) no. 90/2020, regarding the measures for restructuring budgetary obligations.

The changes are presented below.

In detail

Debtors, legal entities under public or private law, with the exception of public institutions, may restructure their main and ancillary budgetary obligations outstanding as at 31 July 2020 and unpaid by the date of issuance of the fiscal attestation certificate (the previous deadline was 31 March 2020).

Such obligations include the main budget obligations outstanding as at 31 July 2020, budgetary obligations declared by the debtor or established by the tax authority by decision after 1 August 2020 for the fiscal period up to 31 July 2020 (those due to the general consolidated budget and / or the budgets of central or local public authorities) and the main fiscal obligations due in the period between the date of entry into force of GEO no. 29/2020 on 21 March 2020 and 31 July 2020, inclusive.

The restructuring of budgetary obligations also applies to main and ancillary budgetary obligations established by non-fiscal bodies and any fines of which the central fiscal bodies are notified as liable for recovery as of 1 August 2020 and until the issuance of the fiscal attestation certificate.

Restructuring applications can be submitted by 31 December 2020, under penalty of forfeiture of the right (the previous deadline was 15 December 2020).

For requests regarding the restructuring of budgetary obligations under settlement according to GO no. 6/2019, debtors can apply to the fiscal body within 10 days as of the law’s date of entry into force to include in the related restructuring plan any budgetary obligations outstanding as at 31 July 2020.

[Law no. 114/2020 for approval of Government Emergency Ordinance no. 90/2020 for the amendment of Government Ordinance no. 6/2019 on the establishment of fiscal facilities and the modification of other normative acts, as published in the Official Gazette no. 600, dated 8 July 2020]

The takeaway

The deadline by which tax obligations can be restructured has been extended to 31 July 2020.

Debtors have until 31 December 2020 to apply for restructuring, under penalty of forfeiture of that right.

Within 10 days as of the law’s date of entry into force, applications may be submitted to include budget obligations outstanding as at 31 July 2020 in restructuring plans subject to requests for restructuring of budget obligations pending under Government Ordinance 6 / 2019.