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Bucharest
August 6, 2021
BUSINESS

Industrial property taxes up 20 pc

Taxes on industrial property, charged to patent owners, are 20 pc higher from Jan 1 of this year onward, as Government did not delay the increase, Mediafax reports. Patent owners’ failure to pay the tax could result in their losing patent protection. Gabor Varga, general director of the State Office for Inventions and Brands (OSIM) admitted a problem being created, given the Ministry of Finance and that of Economy were late authorizing the proposed delay. Industrial property tax are charged to private individuals and legal entities so that their industrial property rights – inventions, brands, geographical indications, industrial designs and models – are protected, and protection deeds, maintained.

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