Loading ...The local taxes and duties will go up by 20.49 percent from 2010 following a Fiscal Code provision allowing the index-linking of the non-fixed values to the inflation in the last three fiscal years, head of the Public Finance Ministry's Tax Office, Gheorghe Marinescu told debates on the real estate market held on Thursday. 'The flexible values set in the Fiscal Code can be index-linked to the inflation in the last three fiscal years, which is 20.49 percent.
This would mean a rise in the local taxes and duties by such percentage points starting 2010', Marinescu said. Furthermore, the local authorities will be entitled to raise the taxes by up to 20 percent. The new Fiscal Code might also call for the taxation of the commercial spaces owned by individuals. Such spaces will be taxed by 0.25 to 1.5 percent of their value, also depending on the material they are built of, the ministry official explained. Therefore, the taxation value might treble from 2010 from the current 600 lei per square meter to no more than 2,000 lei per sqm, he said.
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