Romanian ASF to reduce 25% all the contributions due by the regulated entities until the state of emergency ceases

25 March 2020 — Andrei Victor
Romanian ASF - The Financial Supervisory Authority informed it has decided to reduce by 25% all the contributions due by the regulated entities, after Romania's President has declared a state of emergency in response to the growing number of COVID-19 cases across the country.

"At the meeting held on March 24, 2020, the ASF Board decided to amend Regulation No. 16/2014 on the Authority's revenues, in the sense of reducing by 25% all taxes, fees and commissions due by the regulated entities and supervised by the Authority ", informed the Romanain insurance news portal www.1asig.ro.

According to the source, the ASF decision will will enter into force on April 1, 2020 and will be maintained until the state of emergency ceases. "This measure is intended to support the non-banking financial services industry in general and the entities that are facing economic difficulties due to the situation generated by the spread of COVID-19".

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