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Romania , Thursday 15 October 2026

Romania to waive outstanding debt penalties to help tax compliance

Published on: Wednesday 04 September 2024

Romania to waive outstanding debt penalties to help tax compliance Romania's coalition government approved a series of measures on Wednesday to improve revenue collection and curb a widening budget deficit, including a partial debt amnesty and waiving penalties on unpaid tax. The European Union state, which holds national and presidential elections later this year, saw its budget deficit widen to 4.02% of economic output at the end of July, effectively putting the government's full-year target of 5.0% out of reach. The country has been under the EU's excessive deficit procedure since 2020 - whereby it must present the European Commission with a multi-year plan to reduce the deficit back to below the bloc's ceiling of 3% of GDP.


News source: https://finance.yahoo.com/news/romania-waive-outstanding-debt-penalties-135453891.html

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