Romania: Living There - Tax Issues
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Living There
Income is taxed at a standard flat rate of 16%.This tax is levied on income from the following sources: independent activities, salaries, investments, leasing of real estate properties, pensions, agricultural activities, gambling and prizes, transferring immovable property from personal patrimony, and other sources.
Residents qualify for personal allowances amounting to RON200 (€57) per each month of the taxable period. All allowances for dependants (spouse, children, other) represent 0.5 times the base personal deductions, which is around RON100 (€29) per dependant. However, the total amount of personal allowances is capped at three times the base personal allowance.
The following personal deductions from the aggregate income are granted annually:
- expenses for the refurbishment of the taxpayer’s dwelling: RON1,500 (€427)
- home insurance premiums: up to €200
- private health insurance premiums: up to €200
- contributions to private pension plans: up to €200
Romania - more data and information
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