Published in the Official Gazzette no. 648 of 5 August 2019.
The Ordinance sets up two alternative mechanisms to the payment scheduling procedure (already regulated by Law no. 207/2015 regarding the Fiscal Procedure Code), as follows:
A. Restructuring measures in relation to budgetary obligations outstanding as at 31 December 2018 for debtors with debts amounting to or greater than RON 1 million:
- The measures are applicable to debtors facing financial difficulties and a risk of insolvency.
- Debtors should simultaneously meet the following conditions:
- Not meet the conditions for applying the payment scheduling procedure regulated by Law no. 207/2015 regarding the Fiscal Procedure Code
- Present a restructing plan and a test of the prudent private creditor, prepared by an independent expert
- Not be under insolvency proceedings
- Not to have been subject to dissolution
- Have all tax returns submitted
- Meet the prudent private creditor test
Discover more: Government Ordinance no. 6/2019 regarding certain tax relief measures