Hotnews – SAR Maintains Home Taxation on Mkt Value Could Bring Up to Extra EUR1B to Local Budgets

Taxing real estate property by their market value will bring extra income ranging from EUR600 million to EUR1 billion, given the current real estate market situation, and this amount might even increase in the future, says an analysis by the Romanian Academic Society (SAR). The fiscal-budgetary strategy for 2012-2014 approved last week by the Executive indicates that authorities mean to amend fiscal legislation toward identifying a “balanced, equitable and functional system”, where buildings, plots of land and means of transport are concerned.

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