When it comes to paying local taxes on buildings, land, and vehicles, it is important to remember that these payments are due annually, split into two equal installments. The deadlines are March 31 and September 30.
If you paid your local taxes in full by March, you do not need to make any further payments this year. However, if you only paid half of the amount due, you will need to pay the second installment by September 30.
New Luxury Tax Starting in 2024
We also remind you about the introduction of a new luxury tax starting in 2024, which applies to high-value properties and vehicles.
Who is Affected by the New Luxury Tax?
Residential Buildings: Individuals who own residential buildings with a value exceeding 2,500,000 lei (500,000 euros) will be required to pay a 0.3% tax on the difference between the building's taxable value (as determined by the local tax authority) and the 2,500,000 lei threshold. The deadline for declaration and payment is September 30, 2024, and the declaration must be submitted using Form 216, available on the ANAF website.
Example: If the taxable value of your property is 2,700,000 lei, the tax is calculated as follows:2,700,000 - 2,500,000 = 200,000 x 0.3% = 600 lei. Payment is due by September 30, 2024, to the national budget, not to the local tax office.
Luxury Vehicles: Both individuals and companies that own vehicles registered in Romania with a value exceeding 375,000 lei will be required to submit Form 216 by December 31, 2024. The 0.3% tax will apply to the difference between the vehicle's purchase value and the 375,000 lei threshold.
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