The amendments to article 111 of the Fiscal Code, which regulates the method of determining the tax applicable to the transfer of ownership and of its dismemberments entered into force on the 01.02.2017.
According to the new legal regulation:
- are exempted from payment of tax, the income derived from transactions (transfer of ownership of a property or of its dismemberments) whose value do not exceed 450.000 RON.
- for transactions exceeding the mentioned threshold, the income tax is calculated by applying a rate of 3% to the difference between the value of the transaction and the non-taxable threshold amount.