The Emergency Ordnance no. 77/1999 regarding measures for the prevention of the payment incapacity changed through the Cabinet Order 22/2016, published in the Official Monitory no. 658 of 29.08.2016, was again modified by the Law 155 of 03.07.2017. In consequence, starting with July 6th, 2017:

The legal persons with a shared capital completely / in majority / in minority owned by the state have the obligation to draw-up the situation of the overdue debts older than 30 days since the emittance of the fiscal invoice or from the due date, if the due date is clearly specified, by any creditor, respectively by any debtor, legal person, according to each case, with main seat in Romania, that will mention:

a) Elements of the identification of the debtor quality:

1. name, main seat, fiscal identification code;
2. name, main seat and the fiscal code of the creditor;
3. number, day of emittance, due date, if it is clearly specified, the value and the balance of the invoice that will be paid to the creditor.

b) Elements of the identification of the creditor quality:

1. name, main seat, fiscal identification code;
2. name, main seat and the fiscal code of the debtor;
3. number, day of emittance, due date, if it is clearly specified, the value and the balance of the invoice that will be collected from the debtor.

The legal persons with private capital are not obligated to draw-up the situation of the overdue debts.

This info is issued by ECOVIS Romania as an informing letter over the most important evolutions/changes in the legal and tax fields, and in the investment environment in Romania as well. The information, the analysis and the comments mentioned above are of generic nature and it is not the intention or the imperative of the issuer to be used as a substitute for professional consulting dedicated to individual cases. For advice concerning your specific situation, please contact us  directly.

© ECOVIS Romania SRL – 2017