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Bucharest
June 12, 2021
ECONOMY FINANCE&BANKING

ARACO: Zero VAT for first house sale within 100,000 euro, at strife with EU legislation

Zero VAT at first house sale, within the 100,000 euro limit at strife with the Community legislation, declared on Friday the President of the Romanian Construction Entrepreneurs’ Association (ARACO), Laurentiu Plosceanu in a press conference.

“The formula proposed by the Government with zero VAT for the first dwelling sale within the 100,000 euro limit goes against Community legislation. It might not pass without all the necessary approvals. We invite the Government, the initiator of this law, to consider the application formula of the 5 pct rate both at the first sale and for the subsequent ones, which, by dropping from 19 pct to 5 pct for the second or third sale could unlock further transactions on the real estate market,” said Plosceanu.

Construction entrepreneurs also require the promotion and the financial support of special programmes such as energy efficiency, critical structures, seismic protection, removing asbestos from existing buildings.

Another request on behalf of construction entrepreneurs is the establishment of a ministerial / departmental structure within the Romanian Government with direct methodological and regulatory prerogatives regarding specific activities of the construction sector.

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