What declaration do you have to file starting this year?
February 21, 2024Renata Ban
Another impact change for companies with the advent of GEO 115/2023 is the obligation to report high tax risk assets within Romania.READ MORE
At the beginning of 2022, ANAF automatically canceled all tax debts of less than 40 lei in balance at the end of 2021.Read article
In the first days of each year, the national tax Administration Agency (ANAF) shall automatically cancel certain debts existing at the end of the previous year. Thus, at the beginning of January 2022, the debts were automatically canceled up to lei 40, which were shown in the records on December 31, 2021. The ceiling of lei 40 was introduced in order to avoid situations where the costs of tracking and enforcement, excluding those of communication by post, would be higher than the tax claims subject to enforcement.
Tax debts of less than 40 lei, which were recorded in ANAF records on December 31, 2021, were automatically deleted in the first seven days of 2022. The seven-day deadline for the write off of tax debts below 40 lei is set out in ANAF order no. 727/2019.
In fact, “the remaining tax debts administered by the central tax body, which were in balance on December 31, less than 40 lei, are canceled. The ceiling applies to the total tax claims owed and not paid by the debtors’, provides for the tax procedure Code in Article 266. Tax claims are essentially taxes and social contributions and interest, penalties or increases thereof.
By way of exception, in the case of local tax debts, the authorities can set a ceiling of less than 40 lei for automatic cancellation at the beginning of the year.