Romania To Increase Local Taxes By 16% Next Year – Draft

Local taxes in Romania will be raised next year by 16.05%, the cumulated rate of inflation for 2010-2012, says a draft decision by the Finance Ministry.

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"In accordance with the Tax Code, the value of local taxes and fines applicable since 2010 will be updated through a new draft Government decision, starting with the 2013 fiscal year, by the rate of inflation for the three years since the previous indexation, or 16.05% for 2010-2012," the act says.

The ministry estimates that updating the taxes with the rate of inflation will increase local budgets by 891 million lei (EUR204 million, EUR1=RON4.3691).

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