The people who own more than the house they live in will not pay extra taxes according to the system in effect over the past few years, as this item will be wiped the next year, through the new Fiscal Code. The current legislation forces the individuals who have more houses a 65 per cent higher tax for the first house apart from the place they live in, 150 per cent for the second and 300 per cent for the third and the next. The latest form of the new Fiscal Code written after the document was withdrawn from the website of the Ministry of Finance and obtained by Mediafax, indicates the fact that this extra payment will be eliminated. This measure is explained by the Government saying that it was deemed “unfair” by the tax payers and generated many “administration problems” at local level. The government will radically change the calculation method for taxes on companies’ offices, currently set depending on the accounting value, and will impose a new calculation method based only on the value of the building resulted from an evaluation report, similar to the market value, as the payment is to increase.
Individuals owning more houses not to pay extra taxes
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