Romanian Government to reduce tax on special buildings

The tax on special buildings, also known as the “pole tax” will be reduced from 1.5% to 1% of the value of the constructions. The collected revenues will not go to the state’s budget, but to the local authorities, Romanian Prime Minister Victor Ponta announced on Thursday, September 4. He said that he wants to give local authorities further resources to develop and to invest in sewage systems, roads and schools. The tax on special buildings was introduced at the beginning of this year and is applied on all the building structures that were not taxed before. The revenues from this tax this year are estimated at some EUR 339 million, almost three times what the Government initially planned to get. Foreign investors warn of higher than estimated financial burden from Romania’s new tax on special constructions editor@romania-insider.com