Romania Property Market: Taxation on transfer of property
September 5th, 2007
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The taxation depends if the seller is a private person or a company.
PRIVATE PERSON
The tax is applied on the value of the transaction with no exceptions. The Romanian Fiscal Code distinguishes now two categories:
1. If the property was transferred before a three years term has lapsed from the acquisition data the tax will be 3% when the value of the transaction is up to 200,000 RON and 6,000 RON plus 2 % of the sum that exceeds 200,000 RON.
2. If the property was hold for more then 3 years the tax will be 2% for a price up to 200,000 RON and 4,000 RON plus 1% of the sum that exceeds 200,000 RON for higher transaction prices.
COMPANY
In case a company sells a real estate property, a 16% tax is applied on the profit.
RON is Romania curency.
1 EUR = 3.3238 RON (september 5, 2007)
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