The Ministry of Finance proposes through a draft Ordinance for amending and supplementing Law no. 227/2015 on the Fiscal Code, published on the site for consultation, the abrogation of the amendment on the full deduction of adjustments for impairment of receivables, registered according to applicable accounting regulations, provided by Law no. 296/2020, starting with January 1, 2022, to reduce the budgetary impact.
However, taking into account the increase in the volume of uncollected receivables as a negative effect of the COVID-19 pandemic, it proposes through the draft normative act, the increase of the deduction limit for adjustments for impairment of receivables, provided in art.26 paragraph (1) letter (c), from 30% to 50%, starting with January 1, 2022.