Romania V.A.T. and Other Taxes

V.A.T in Romania
The standard V.A.T. rate in Romania is 19%. There are reduced V.A.T. rates of 9% and 5%.
The reduced 9% VAT rate applies to hotel services, books, newspapers and medicines. The reduced 5% rate applies to buildings supply.
Insurance companies, banks and financial services in Romania are exempt.
The fiscal period for V.A.T is the calendar quarter. When the annual turnover exceeds EUR 100,000 the VAT returns are filed monthly. The V.A.T return has to be filed by the 25th of the month following the reporting period.
V.A.T registration is compulsory when the annual turnover for the previous year was above EUR 35,0000.

Romania Real Estate Taxes

Building Tax in Romania
The standard building tax for buildings located in Romania is 0.1%-0.2% for individuals and 0.5%-1% for legal entities.
For buildings which were bought more than 3 years before the current tax year, without being revaluated for 3 years, the tax rate for legal entities is 5%-10% of the book value.

Land Tax in Romania
Land tax is imposed on land located in Romania.
The tax is levied as a lump sum per meter, depending on the land's location and use.

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