The liquidation through the National Tax Administration Agency (ANAF) of garnished rail cars of the Romanian rail freight company CFR Marfa began in May 2022 and as many as 1,274 rail cars have been sold and invoiced so far for a total price of 27.92 million RON, CFR Marfa CEO Daniel Postolache told a news conference on Friday, write Agerpres.
„The cars and engines placed under garnishment by ANAF since March 2020 are not used in the company’s current activity, they are in conservation, repair works were not carried out in time, because their value is greater than 60 percent of the replacement value. Currently, CFR Marfa’s inventory rolling stock is of 27,243 cars and 907 engines. The company uses about 8.500 cars and 220 engines for its current activity. The difference between the inventory stock and the active assets generates fees, taxes and major costs with security and utilities. Currently, over 8,000 cars that are not used in the company’s operating activity are in the process of liquidation through auctions organized at ANAF’s headquarters, the bidding sessions are organized recurrently. Their initial assessed price was 42.88 million RON, so they were capitalized at approximately 64 percent of their value,” Postolache said.
According to him, CFR Marfa is also planning to put up for public auction the ferryboats in Mangalia and Eforie, to cover some of its state budget liabilities.
Under a privatization process initiated in 2013 but which was aborted in the end, CFR Marfa was supposed to increase its share capital by converting into shares its tax liabilities administered by ANAF, and ANAF was to take over the company’s fiscal obligations on account of CFR Marfa’s debts to the infrastructure administrator.
The European Commission ruled this is illegal state aid and the amounts now must be reimbursed. In March 2022, following the approval of the additional act to the preventive concordat, the total value of the state aid reached 3.8 billion RON, as a result of accrued penalty interests and the delay in the decision establishing the methods for the state aid recovery.
The repayable state aid now stands at 3.63 billion RON.
