The Central Bank of the Republic of San Marino announces the issuance of the Update to the Regulations on the procedures for feeding and maintaining the Debtors Register, which comes into effect today, December 22, 2023.
As previously communicated at the start of the public consultation process, which ended on December 13, the amendments to the Regulations were necessary to align and ensure compliance with the legislation issued regularly by the Legislator. In particular, they reflect the provisions of Law No. 132 of September 15, 2023, which amended the article on payment deferrals (secured installments) and introduced Article 34-bis, regulating payment commitments (unsecured installments).
In this regard, the most significant changes include:
- the exclusion of collection notices under installment plans from the debt calculation, provided that no installment is overdue, therefore removing the previous threshold of three unpaid installments. The same applies to notices subject to a payment commitment, with the sole condition that no installment is overdue, as the requirement to pay at least 30% of the plan debt has been repealed;
- the verification of the payment of collection notices, carried out on January 16 of the year of publication;
- debtors have the option to request a mention of the payment in the Debtor Registry if they settle the full tax debt after January 15 and by February 15 of the year of publication. This request does not affect the possibility of having the entry removed during the registry's first review;
- the possibility for debtors to request a mention in the Debtor Registry, provided they enter into an agreement for an installment payment plan or a promissory note for the full tax debt between January 1 and February 15 of the publication year, remains subject to its subsequent removal during the first review of the Registry.
The Revenue Department remains available to provide any necessary clarification regarding the above.