Launch of Public Consultation on the Debtors' Registry Regulation

The Central Bank of the Republic of San Marino, in accordance with the provisions of Article 2 of Law No. 93 of July 30, 2018, as amended by Article 23 of Law No. 88 of May 30, 2019, hereby announces the initiation of a public consultation regarding the draft of the “Update Regulations on the Procedures for Feeding and Maintaining the Debtor Register..”

Please be reminded that the Debtors’ Registry lists individuals who, as of December 31 of the year preceding the publication date, have a tax debt exceeding €50,000.00, arising from tax notices with deadlines equal to or prior to the aforementioned date.

The amendments to the currently effective text have become necessary to coordinate and ensure that the Regulation complies with the laws issued by the Legislator from time to time, in particular, Law No. 132 of September 15, 2023, which amended the article on payment installments and regulated payment promises under Article 34-bis.

In this regard, the most significant changes pertain to:

• the exclusion from the calculation of debt of tax collection notices subject to deferral, provided that there are no outstanding installments. This change eliminates the previous threshold of three unpaid installments. The same exclusion applies to tax collection notices covered by a payment promise, on the sole condition that there are no outstanding installments, thereby removing the additional requirement of paying at least 30% of the deferred debt;
• the assessment of payments regarding tax bills, installment plans, and payment commitments is conducted as of January 16 of the publication year;
• it is stipulated that debtors who make full payment of their tax liabilities after January 15 and before February 15 of the publication year will be listed in the Debtors Registry. They may request a notation of their payment; however, this notation will be removed upon the first review of the registry;
• it is stipulated that debtors who enter into an installment agreement or a full payment promise for their entire tax debt between January 1 and February 15 of the publication year will be listed in the Debtors Registry. However, they may request the removal of this mention, which will be canceled upon the first review of the registry.

Regulations on the procedures for maintaining and updating the Debtor's Registry

The consultation regarding the aforementioned provision will conclude on December 13, 2023.

The Collections Department remains available to assist users by providing any necessary clarifications concerning the above.

Any contributions to the consultation may be sent to the following email address: esattoria@bcsm.sm, with the subject line: “Update on the Regulation regarding the Procedures for Maintaining and Managing the Debtor Registry”.