Individuals owning real estate in Romania valued at over 2.5 million lei, subject to a special tax implemented last year, will have an extended deadline until September 30 to declare this tax to local authorities, compared to the current April 30 deadline stipulated by law.
Notifications regarding this tax will be sent by local tax departments (town halls), as outlined in a draft GEO proposed by the Ministry of Finance. Moreover, after this Ordinance appears in the Official Gazette, within 30 days ANAF will notify people who have expensive houses that they must pay tax.
The GEO applies to:
- natural persons who, on December 31 of the previous fiscal year, own/jointly own residential buildings located in Romania, if the taxable value of the building, calculated, exceeds 2.5 million lei.
- natural persons and legal persons who own cars registered/registered in Romania whose individual purchase value exceeds 375,000 lei.
The tax is due for a period of 5 years starting from the fiscal year in which the handover-acceptance of the car takes place or for the fraction of years remaining until the completion of the 5-year period from this date for those in which the handover-acceptance of the car took place previously.
In the case of properties representing residential buildings, a rate of 0.3% will be applied on the difference between the taxable value of the building communicated by the local fiscal body through the taxation decision and the ceiling of 2.5 million lei;
In the case of cars, a rate of 0.3% will be applied on the difference between the purchase value and the ceiling of 375,000 lei.
E-cigarettes will be taxed based on nicotine level
There will also be a change in the fiscal duties for the excise tax on electronic cigarettes. The Ministry of Finance says it is making this decision after mass media reported in February that electronic cigarettes have the same excise tax, regardless of the nicotine level.