Gabon | 2018.03.20
THE NATIONAL SOCIAL SECURITY FUND DECIDES TO WRITE-OFF COMPANY DEBT

The National Social Security Fund (CNSS) issued a press release on 19 January 2018 on the adoption of exceptional measures relating to debt write-offs.

 

From 1 February to 30 April 2018, companies owing amounts to the CNSS can request a write-off as follows: 

 

  • 80% reduction in fines for late payment and 20% reduction in penalties for late filing for companies which owe at least or more than 100,000,000 FCFA;

  • 70% reduction in fines for late payment and 30% reduction in penalties for late filing for companies which owe between 50,000,000 FCFA and 100,000,000 FCFA;

  • 60% reduction in fines for late payment and 40% reduction in penalties for late filing for companies which owe less than 50,000,000 FCFA. 

To benefit from these measures, the companies will need to pay upfront 50% of the principal amount owed and set up a payment schedule for the remainder.

For further information about the content of this Legal Alert, please contact:
Catarina.Tavora@mirandalawfirm.com

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