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Small and medium-sized enterprises (SMEs), including micro-enterprises, as well as large enterprises, will be able to request up to 500,000 euros to make investments that will help them make their businesses more energy efficient. The ordinance, made official on Monday evening, will
This year's edition of the Start-Up Nation program will be launched on July 19. It is forecasted that there will be 10,000 beneficiaries, and starting this year the program will have a sub-pillar dedicated strictly to Romanians in the diaspora, with 1,000
The draft amendment to the Fiscal Code, which provides, among other things, for the increase in the dividend tax from 5% to 8%, the decrease in the income threshold up to which a company is considered a micro-enterprise, the increase to 9% of the VAT for non-alcoholic beverages that
The National Council of SMEs in Romania (CNIPMMR), a nationally representative employers' confederation that ensures the representation of the interests of small and medium-sized enterprises at national and European level, requests that any reform or measure adopted in the fiscal field, which aims to
A legislative proposal to keep payroll records for only five years was signed into law by the president today. Thus, starting in 2023, employers will only have to keep payroll records for five years, not 50.
The Ministry of Entrepreneurship and Tourism has launched a public consultation on the implementation procedure of the Multiannual National Program for the Development of Entrepreneurial Culture among Women Managers in the SME Sector. "Only by ensuring equal treatment and opportunities between women and men
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Cancellation of Accessories and Principal Debts through GEO 107/2024: What Taxpayers Need to Know
Recently, the Romanian Government adopted Emergency Ordinance no. 107/2024, a regulatory act aimed at cancelling ancillary and, under certain conditions, main debts for certain categories of taxpayers. The measure comes as a support for individuals and legal entities affected by financial difficulties and aims to facilitate tax compliance and reduce arrears to the state budget.
What does GEO 107/2024 provide?
GEO 107/2024 offers a unique opportunity for taxpayers to cancel their accessory debts (interest and late fees) and, in some cases, even outstanding principal debts.
Who can benefit from GEO 107/2024?
The ordinance is addressed to both individuals and legal entities that have outstanding debts to the state budget. Through this measure, the tax authorities want to reduce the level of indebtedness and support voluntary compliance of taxpayers.
Main categories of beneficiaries:
The main provisions include:
How is the measure applied and what are the necessary steps?
To benefit from the cancellation of accessories and/or main debts, taxpayers must follow a series of steps, including filing an application with the competent tax authority, paying the main debts (where applicable) and complying with the deadlines imposed by the ordinance. It is essential that taxpayers are informed of the deadlines and consult a tax advisor to ensure compliance.
Material prepared by the Regional Directorate of Public Finance Ploiești – AJFP Dâmbovița
Impact on taxpayers and the economy
Through this measure, the government is trying to reduce the financial pressure on taxpayers and increase the level of voluntary compliance, thus contributing to the reduction of tax arrears. In the long term, it is anticipated that this measure will improve the financial stability of taxpayers and facilitate receipts to the state budget.
Interested taxpayers are advised to consult GEO 107/2024 and contact a tax expert to understand exactly what steps they need to follow to benefit from the cancellations provided for in this ordinance.
Material prepared by the Regional Directorate of Public Finance Ploiești – AJFP Dâmbovița
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