Romania

Adoption date

Type of measure

Beneficiaries' sector specification

Description of measure

18/03/2020

Public guarantees

Non-financial corporations

to provide state guarantees for loans taken by SMEs

18/03/2020

Direct grants

Non-financial corporations

to subsidize the expenses related to loans with state guarantees taken by SMEs

18/03/2020

Public moratoria

Other

to postpone the payment of the rates and the interest related to the loans granted by the Ministry of Public Finance from revenues resulting from privatization

18/03/2020

Tax deferrals

Other

to postpone the payment period for the building tax, the land tax, respectively the tax on the means of transport and the deadline for granting the bonus established by the local council

18/03/2020

Tax deferrals

Other

to postpone the deadline by which the debtors wishing to restructure the outstanding budgetary obligations will be able to notify their intention to the competent fiscal body, under the sanction of the decay

18/03/2020

Tax deferrals

Other

to postpone the deadline for submitting the restructuring request, subject to the sanction of decay

18/03/2020

Tax deferrals

Other

for tax obligations due after the date this emergency ordinance entered into force, interest and late payment penalties are not calculated and are not considered outstanding

18/03/2020

Moratoria on other claims

Non-financial corporations

SMEs that have discontinued their activity partially or totally as a result of the authority's decisions, will benefit from the deferral payment services utilities - electricity, natural gas, water, telephone and internet services, and deferred payment of rent for the building destined for registered office and / or secondary office

18/03/2020

Moratoria on other claims

Non-financial corporations

the penalties stipulated in the contracts concluded with the public authorities will not be due

26/03/2020

Direct grants

Households

to borne the employees' allowances, who temporarily or totally reduced or interrupted their activity, from the unemployment insurance budget up to the limit of 75% of the basic salary corresponding to the job occupied, but not more than 75% of the expected average gross wage of Law no. 6/2020 (ie 75% of 5,429 lei),

26/03/2020

Tax reliefs

All sectors

to grant 5% discounts to the big taxpayers, 10% to the medium and small taxpayers and to the micro-enterprises that pay the profit / income tax for the first quarter of 2020

30/03/2020

Public moratoria

All non-financial sector

to suspend for a period up to 9 months, at the request of the debtor, the obligation to pay the due installments related to the loans, representing capital rates, interest and commissions, granted to the borrowers by the creditors until the date of entry into force of this emergency ordinance

20/08/2020

Public guarantees

Non-financial corporations

to provide state guarantees for the acquisition of new or second hand machinery through financial leasing by SME's

24/08/2020

Public guarantees

Non-financial corporations

to provide state guarantees for factoring financing by SME's

12/03/2021

Public guarantees

Non-financial corporations

to provide state guarantees for loans taken by SMEs in the agriculture sector

12/03/2021

Direct grants

Non-financial corporations

to provide a direct grant in the value of 10% of the loan taken through the program of state gurantees for the agriculture sector

06/08/2020

Direct grants

Non-financial corporations

To provide microgrants for working capital to SME's

06/08/2020

Direct grants

Non-financial corporations

To provide working capital grants to SME's

06/08/2020

Direct grants

Non-financial corporations

To provide investment grants to SME's

30/12/2020

Direct grants

Non-financial corporations

To provide grants to SME's in the HORECA sector in value of 20% of the loss in revenues in 2020 compared to 2019

09/04/2020

Tax reliefs

Non-financial corporations

A specific tax exemption for the taxpayers operating in the hospitality industry (HORECA) for the period when they cease the activity in whole or in part during the decreed state of emergency or state of alert. The tax exemption for the taxpayers operating in the hospitality industry (HORECA) is granted from the date of entry into force of the emergency ordinance OUG 48/2020 until 31.12.2020. A postponement of the deadline for declaring and paying the tax related to the first semester of 2020, until 25.10. 2020 inclusive was granted. For 2021, HORECA taxpayers are granted specific tax exemption starting 1 January 2021 for a period of 90 days. A postponement of the deadline for declaring and paying the tax related to the first semester of 2021 was granted until 25.12. 2021.

24/03/2020

Buffer usability

Banking sector

to allow banks to temporarily use the previously built capital buffers

24/03/2020

Liquidity measure

Banking sector

to allow banks not to comply with the minimum liquidity ratio

24/03/2020

Other measure

Other

to allow non-bank financial institutions entered in the Special Registe not to temporarily comply with credit exposure limits

27/03/2020

Other measure

Banking sector

to postpone the deadline for collecting the annual contributions to the bank resolution fund for 2020 by 3 months, with the possibility of extension to up to 6 months

27/03/2020

Reporting requirements

Banking sector

to delay the reporting deadlines of some information on resolution planning, in line with the approach communicated by the European Banking Authority;

27/03/2020

Buffer usability

Banking sector

to correlate the terms and conditions on the minimum requirements for own funds and eligible liabilities (MREL) with the decisions adopted by the Supervisory Committee in the meeting of 20 March 2020

20/03/2020

Interest rate change

All sectors

Cut of the monetary policy rate by 0.50 percentage points, from 2.5 percent to 2.0

20/03/2020

Other measure

Banking sector

To narrow the symmetrical corridor defined by interest rates on standing facilities around the monetary policy rate to ±0.5 percentage points from ±1.0 percentage points

20/03/2020

Market liquidity

Banking sector

To provide liquidity to credit institutions via repo transactions (repurchase transactions in government securities) with a view to ensuring the smooth functioning of money market and of other financial market segments

20/03/2020

Asset purchase programme

Banking sector

to purchase leu-denominated government securities on the secondary market with a view to consolidating structural liquidity in the banking system that should contribute to the smooth financing of real economy and the public sector.

18/03/2020

Other measure

Other

to stop the measures for enforcing budget receivables through seizure, except for enforced executions that are applied for the recovery of the budgetary debts established by some certain court decisions

18/03/2020

Other measure

Non-financial corporations

in the case of commercial contracts signed by SMEs, other than those for rental and utilities, the force majeure can be invoked against SMEs, only after demonstrating by any means the attempt to renegotiate the contractual clauses by taking into account the exceptional conditions imposed by the current state of emergency