Good terms in Fiscal Procedure Code

Taxpayers might get more flexible regulations for paying their budgetary dues through an extension of the clearing deadlines and the elimination of some penalties, according to the Fiscal Procedure Code drafted by the Finance Ministry. The document has yet to be approved by the Government, which is set to discuss it some time soon. The Fiscal Code has already been enacted by Parliament and will enforce early next year. The normative act draft says the 10% penalty on the failure to transfer the amounts in form of obligations deducted at source within 30 days from the due date is to be dropped. The deadline for clearing the obligations to the budget through banks, without interests and penalties, could be extended from the current 48 hours to three business days. In case taxpayers challenge fiscal documents, they may withdraw their complaints without losing the respective right to contest again within the legal deadline, that is 30 days from receiving notification of the document in question. They will also be allowed to challenge other fiscal administrative documents besides those setting budgetary obligations or forced execution measures. ZF