Romania will simplify the real estate tax

Oct. 2, 2016

Romania will simplify the real estate tax

The Minister of Finance of Romania Anca Dredge in an interview with a local TV channel Realitatea TV reported that soon the order of payment of property tax will be simplified. In particular, the owners of apartments, houses, commercial premises will not have to carry out a preliminary assessment of the value of the property.

Until now assessing the taxable value was required in the following cases:

1. The building is owned by a legal entity.

2. Non-residential premise is owned by physical person.

3. The property is used both for living and for economic activity.

The assessment was made on the basis of the Tax code. In the near future the Ministry of Finance will create a common database with different coefficients for residential and non-residential property.

Based on the materials of