Romania: Worked Example of Tax on Rent
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Tax Example: Rent
| Non-resident couple's joint monthly rental income1 | €1,500 | €6,000 | €12,000 | |
| Annual Rental Income | 18,000 | 72,000 | 144,000 | |
| Less Standard Costs (25%)2 | (4,500) | (18,000) | (36,000) | |
| = Taxable Income | 13,500 | 54,000 | 108,000 | |
| Income Tax Rates | ||||
| Flat Rate | 16% | 2,160 | 8,640 | 17,280 |
| Annual Income Tax Due | €2,160 | €8,640 | €17,280 | |
| Tax Due as % of Gross Income | 12% | 12% | 12% | |
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DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on March 12, 2007.
Notes
Boscolo & Partners is a correspondent firm of Grant Thornton International. Grant Thornton International is not a worldwide partnership. Correspondent firms of the international organization are independently owned and operated.
1 The property is jointly owned by husband and wife.
2 Standard deduction of 25% of the gross rental income is allowed for income-generating expenses.
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