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Property Tax in Romania

Property Tax in Romania

Updated on Tuesday 28th June 2016

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NameAny individual possessing a building located in Romania owes an annual tax.
This levy needs to be paid to the local budget of the corresponding region, city or municipality where the house is situated.
 
Our accounting firm in Romania can help you with proper information and guidance in order for you to pay the right taxes for your belongings.
 

Annual taxation on buildings

 
For individuals, the tax is calculated by applying a quota of 0.1% to the taxed value of the construction. For example, the taxed value for a building made of reinforced concrete, stone or brick is in amount of 397 Lei/square meter. If a physical person owns two or more residence buildings that aren’t rented to another party, the tax shall increase accordingly.
 
In the case of enterprises, the levy on buildings is calculated by applying a quota of 0,25% to 1,50% to the conventional value of the construction. Each particular tax is established by the Local Council in these limits.
 
The taxed value is diminished depending on the year the building was built.
 
 

Annual taxation on land

 
Every individual that owns a land in Romania needs to pay an annual levy with specific exceptions. This tax is owed to the local budget of the region, city or municipality. 
 
If the property is located in Bucharest, the taxes will be paid to the local budget of the municipality’s sector.
 
In Romania, the property tax is established taking into consideration the number of square meters, the score of the particular location of the land and its type per the decision of the Local Council. 
 
Levies need to be paid annually in 2 equal rates, first until the 31st of March and second until the 30th of September. If the amount does not surpass 50 Lei, then the tax is to be paid completely until March 31st.
 
Please feel free to contact our accounting specialists in Romania for extra information regarding property tax in the country.