Romanian Cos To Pay Lower Taxes For Devalued Properties In ’09

Companies pay a tax set by the local councils, between 0.25% and 1.5% of the inventory value for the buildings found in their patrimony, for which legal entities have performed at least one reevaluation in the last three years before the fiscal year in question.

 

For properties not reevaluated in this interval there is a tax of 5%-10%.

 

Thus, according to calculations performed by MediaCity, for a building evaluated at EUR300,000 in 2006, upon purchase, the market value is now at about EUR180,000. In this case, at the value registered in 2006, the owner would have paid a tax of EUR3,750, while the reevaluated value would bring the tax to less than EUR2,750.