Starting from January 1, 2023, the maximum cost limit provided for the provision of housing within the framework of social policy to individuals will be reduced accordingly from 700,000 lei to 600,000 lei, excluding VAT, simultaneously with the restriction of the application of a reduced VAT rate of 5% when purchasing any – by any natural person individually or jointly with another natural person/persons of a separate dwelling.
This amendment to the Fiscal Code was introduced by Decree 16/2022 (regarding tax increases).
At the same time, in Romania there is a Register of home purchases with a reduced VAT rate, introduced by the Trenulet Decree (OG 130/2021) since last year.
Well, given the new cap changes introduced by Decree 16, ANAF has prepared a procedure to change this register.
The project of the procedure for maintaining the register of the purchase and sale of housing with a reduced VAT rate – click to open
From January 1, 2023, the register of housing purchases at a reduced VAT rate of 5% is filled out and consulted by state notaries.
The register contains information on the transfer of ownership of housing from taxpayers registered as VAT payers to natural persons for whom the preferential VAT rate of 5% is applied.
By reviewing the register, the fulfillment of the condition for the purchase of a separate house, the value of which does not exceed the amount of 600,000 lei, excluding VAT, with a reduced VAT rate of 5%, is checked, before confirming the authenticity of title documents, the subject of which is the transfer of ownership or prepayment for the purchase of such a house.
Source: Hot News RO
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