The Romanian insolvency law should be modified because its to permissive, according to Dragos Doros, the president of Romanias National Fiscal Administration Agency ANAF.
The state has been losing big amounts of money from firms that went into insolvency to take advantage of the holes in the law and avoid paying their taxes.
Almost every company that enters insolvency leads us to the conclusion that we will not get much from it. We have proposed to modify the insolvency law so that we could recover at least the tax liabilities that were determined through court decisions, said Doros, reports local Digi24.
ANAF has some EUR 17 billion to recover from local companies, but 80% of the money is lost because the companies…
Read the full article at: http://www.romania-insider.com/romania-recovers-almost-nothing-insolvent-companies/170995/