Taxes` delay - the extreme solution to solve the money crisis

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The failure in funding their business has sent thousands of companies directly in the clutches of bankruptcy and the measures taken by the authorities proved insufficient to revive the credit, so the Authority for State Assets Recovery (AVAS) has proposed an extreme measure - state aid consisting of the postponed payment of tax obligations.

In a draft of the Government Ordinance, AVAS proposes to support the economical operators by providing facilities to paying debts to the Ministry of Public Finance and AVAS. The state came to consider this form of indirect borrowing, given that banks were not that eager to resume loans with the funds issued by the National Romanian Bank from the latter’s minimum compulsory reserves.

The listed facilities may be granted on some state aid schemes basis and based on individual aid, too, depending on the situation. From the analysis on the potential situations in which operators can find themselves, came out that the State aid may be for regional development, aiming at supporting investment and job creation, at the implementation of some investment programs as part of the restructuring and validation programs for economical operators.