|2017-10-01 Easier debt recovery and assessment of the counterparty’s financial situation|
On 12 September, the Council of Ministers adopted a draft of amendments to the Tax Ordinance, which is the first step of the whole legislative process.
The aim of changes is to make it possible for every entrepreneur to obtain an attestation from the National Tax Authority on fair and timely payment of taxes and filing tax declarations by their business counterparty.
Let us recall that part of the provisions of the Act of 7 April 2017 on the change of certain acts in order to facilitate debt recovery entered into force on 1 June this year. The remaining provisions shall be binding as of June 2018 at the latest. The amendments are aimed at increasing the reliability of the assessment of the counterparty’s financial capacity or debtor’s financial situation, as well as efficiency in recovering the amounts receivable (i.e. main claim, interest, litigation costs). Broader possibilities are to be provided for obtaining information on the potential counterparty’s liabilities from economic information bureaus and registers containing information on public law liabilities (i.a. introducing the possibility for the economic information bureau to assess the financial capacity of an entity not being a consumer).