The new draft on tax increases, published on Thursday by HotNews.ro, also includes a part related to property taxation. Changes have been made to the original project.

Adrian Vascu, Senior Partner at Veridio and former President of ANEVAR, provided a brief analysis of the news.

In essence, he explains that more than €500,000 was collected from property tax

According to him, now we have:

1. The tax no longer applies to the ownership of several property objects, but is called a “special tax on immovable and movable property of great value”.

2. Applies only to natural persons

3. This applies only to residential real estate. Actually only for buildings, not land.

4. The argument for not taking land into account is a reference to the taxable value calculated in accordance with Article 457 of the current Tax Code. That is, what the city halls calculate.

5. This also applies to a detached house if its taxable value exceeds 2.5 million lei.

6. The tax rate is reduced from 1% in the previous draft to 0.3% for the amount exceeding the threshold of 2.5 million lei.

He also gave the example of a 100 square meter apartment on Piata Victoriei in Bucharest. The amount of taxation is 250,000 lei.

“If you have 10 such apartments, you don’t pay anything. If you have 11, you pay a commission of €150 (0.3 percent of the difference),” explains Adrian Vascu on Facebook.

So, according to him, the initial area of ​​this new fee was narrowed from all types of real estate owned by an individual to only residential buildings, and the share was narrowed from 1 percent to 0.3 percent.

“What used to be a small contribution to the budget has now become a big nothing. Let there be a series of measures,” concludes the expert.

See what the original version contained: Fiscal changes: New tax “for the guilt” of having more houses / Adrian Vascu: If you have a house worth €1 million, you pay nothing to ANAF