Romania Tax Agency Updates Tax Guide for Income from Renting, Subleasing Property

The Romanian National Agency for Fiscal Administration April 17 updated a guide on the taxation of income from renting and subleasing property. Topics covered include: 1) calculation procedures for income from rental transactions; 2) calculation procedures for taxes and social security contributions on rental transactions; 3) the 10 percent tax rate on net income; 4) the May 25 deadline to submit single declarations on income tax and social contributions; 5) a list of VAT-exempt transactions, with exceptions; and 6) tax filing and payment instructions, and penalties for non-compliance. [Romania, National Agency for Fiscal Administration, 04/17/24]

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