Romania To Keep High Taxes On Multiple Homes In 2012

Romanian Prime Minister Emil Boc said Wednesday that the Government has decided to keep the higher taxes paid by owners of two or more buildings, or cars with engines larger than 2,000 cc, into 2012.

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A law approved by the Parliament earlier limited the taxes' application to this year, but it has been extended through an amendment to the Fiscal Code.

In 2010, the Government doubled the tax on vehicles with an engine capacity of more than 2,000 cc and raised the taxes paid by owners of multiple buildings by 65% for the first building other than their residence, by 150% for the second such building and by 300% for subsequent buildings.

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