The Ministry of Finance has developed the method of applying the tax on special constructions, based on the proposals of the targeted sectors, with state budget revenues estimated at 1 billion RON in 2025, the ministry announced on Friday.According to a press release sent on Friday, during February and March, the Ministry of Finance held consultations with representatives of all the sectors concerned to establish the most efficient way to implement the tax on special constructions.Thus, given the need to clarify the calculation and declaration mechanism of the construction tax, taking into account the analysis of the collection level that can be achieved through this tax and the impact that it can have on the business environment, the Emergency Ordinance was drafted to amend and supplement Title X of Law 227/2015 on the Fiscal Code, the quoted source states."Through the emergency ordinance published today in transparency, we ensure revenues at least at the level of the initial estimates of 1 billion lei in 2025, through a regulation that takes into account both the need for collection efficiency and the feedback received from economic sectors. Private companies requested that taxation be applied not to the gross value of the constructions, but to their net value. Taking into account this proposal, we decided to apply a 1% tax on the net value of special constructions for the private sector. At the same time, based on the proposals of public infrastructure administrators and analyses, we established a taxation level of 0.5% for special constructions owned by the state or local authorities, concessioned or given under administration, because in these cases the tax is applied to the historical value of the constructions," Deputy Prime Minister Tanczos Barna, Minister of Finance, said, quoted in the press release.The draft normative act also includes measures aimed at some amendments to the provisions in the field of construction tax, namely clarifications regarding the establishment of the taxable base in the case of investments made by taxpayers in constructions used under management/concession/free use contracts/rental/management lease/joint venture and the like.Other amendments refer to the establishment of rules for calculating, declaring and paying the tax in the case of taxpayers who have a modified fiscal year, for those who cease to exist or for taxpayers newly established during the year, as well as the establishment of the scope of application of the tax in the sense of applying it only to constructions located on Romanian territory.The draft Emergency Ordinance for amending and supplementing Title X of Law No. 227/2015 on the Fiscal Code was made transparent on the website of the Ministry of Finance.
President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]
Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]
Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday. “PNRR will not stop, neither will financing investments which have already been initiated, […]
The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]
Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]
The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]
