The new tax law (296/2023) introduces a special tax on houses and high-value cars from 1 January 2023. ANAF has prepared a draft order according to which these people will have to declare the relevant assets.

The tax will be applied to:

• natural persons who, on December 31 of the previous fiscal year, own/jointly own residential buildings located in Romania, if the calculated taxable value of the building exceeds 2.5 million lei.

• individuals and legal entities owning cars registered/registered in Romania, the individual purchase value of which exceeds 375,000 lei. The tax is payable for 5 years starting from the financial year in which the transfer-acceptance of the car takes place, or for the part of the years remaining until the end of the 5-year period from that date, for those in which the transfer-acceptance of the car previously took place.

In the case of real estate that is residential buildings, the rate of 0.3% will be applied to the difference between the taxable value of the building, notified by the local fiscal authority through the tax ruling, and the upper amount of 2.5 million lei;

In the case of cars, a rate of 0.3% will apply to the difference between the purchase price and the maximum amount of 375,000 lei.

What is new in this tax?

ANAF has prepared a declaration in the form 216 “Declaration on special tax on immovable and movable property of high value”.

It will need to be submitted to the tax office in order to declare these assets for taxation.

In the case of real estate objects that are residential buildings, the deadline for declaration and payment of the amount owed is until April 30 of the tax year inclusive.

Regarding property, which is cars, the deadline for declaration and payment of the due amount is until December 31 of the tax year, inclusive.