Romania’s tax agency changes rules regarding insolvent companies, eases debt sale

Sorin Melenciuc 08/04/2019 | 13:13

The Romanian tax agency (ANAF) proposes new rules regarding the insolvent companies aiming to maximize the amounts collected to the state budget, one of the key-measures being an easier way to sell debts.

The new project settles the necessary operations to fulfill the debt assignment in the situation of debtors in insolvency.

“A selection commission was established for the assignee to recover the budgetary receivables to analyze the fulfillment of the selection conditions in view of a series of criteria, as soon as possible, the most advantageous offer and the most favorable guarantee from the perspective of maximizing the recovery of budgetary receivables,” the project says.

The new project also regulates guarantees for debt sales.

A recent government plan includes among priorities in 2019 to change the insolvency procedures and regulate alternative investment funds.

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