30 million euros in fines for businesses that pay insurance are forgiven - Accumulated employee liabilities must be paid by the end of the year
Businesses will have the opportunity to be relieved of any fines or late payment interest received over the years for failing to pay their employees' social security contributions on time, if they meet the condition of paying the arrears by the end of this year.
Referring to the law that entered into force in January, "On the cancellation, extinguishment and payment of tax liabilities to the central and local tax administration and of liabilities payable to customs", fines and late payment interest for social and health insurance, belonging to tax periods up to December 31, 2014, that result calculated or recorded in the taxpayer's account, will be cancelled, but the contribution obligation will still remain.
While Article 6 states that "Administrative penalties (fines and late fees) for social and health insurance, pertaining to the tax periods from January 1, 2015 to December 31, 2024, that result calculated or recorded in the taxpayer's account, are hereby abolished, provided that 100% of the contribution is paid by December 31, 2026."
In other words, if businesses or public institutions that have unpaid social security and health insurance obligations for employees undertake to repay them within this year, they will be removed from the list of debtors and will not pay penalties.
According to a recent report by the Supreme State Audit Office, the liabilities that businesses have towards employees for unpaid social security contributions amount to around 20 billion lek or 200 million euros. The number of debtor entities results in around 120 thousand businesses. In total, the unpaid social security obligations for 2024 include 17.18 billion lek principal, 2.08 billion lek fines and 968 million lek interest, bringing the total value of the debt to 20.2 billion lek. While 79.6 million lek or around 800 thousand euros are arrears of central and local government.
With this initiative, the government aims to facilitate businesses and increase budget revenues.
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