The Romanian government enacted an Emergency Ordinance on 4 September 2024 to regulate fiscal and budgetary measures to address the budget deficit.
The Emergency Ordinance also includes proposed measures aimed to enhance budget claims collection and assist financially troubled debtors through tax relief, including cancellation of interests and penalties.
Under the Emergency Ordinance, taxpayers who declare and pay their annual corporate or microenterprise tax for 2024 within the deadlines as per the law will receive a 3% bonus. Additionally, a tax amnesty for interest and penalties on outstanding liabilities as of 31 August 2024 will be available for individual and corporate taxpayers, subject to specific conditions.
Partial waivers may be granted with partial payment. Tax amnesty is available for all taxpayers, individuals and entities, regardless of ownership type, and requires submitting an application to the tax authority.
Additionally, the Ordinance offers support for local public authority investments to improve access to European funds and treasury loans. It will also focus on monitoring public expenditures to eliminate unnecessary costs and oversee state and local company spending.
The Ordinance was adopted on 4 September 2024 and will take effect on the date it is published in the Official Gazette.
