Home Real Estate Romania’s Finance Ministry simplifies property tax

Romania’s Finance Ministry simplifies property tax

by Jonathan Adams

Property tax will be simplified so it doesn’t require assessment anymore, Finance Minister Anca Dragu said at local TV station Realitatea TV.

Currently, the assessment is necessary to determine the taxable value of properties owned by companies, as well as by individuals who own non-residential buildings or property that is used both for housing and an economic activity.

For residential buildings, the taxable value is currently determined based on a table in the Fiscal Code.

“We plan to simplify the property tax and remove assessment. It will be a shared base with different coefficients for the residential and non-residential segment,” Dragu said.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more