Important amendments have been made to the Fiscal Code, and according to the new regulations the delivery of homes with a usable area of up to 120 sqm, excluding household annexes, whose value, including the land on which they are built, does not exceed Eur 140,000, Lei equivalent, compared to the previous regulation in which the amount was Lei 450,000, exclusively the value added tax of 5% are applicable in case of acquisition by individual persons.
The usable area of the house also underwent subsequent amendments and completions in the housing law. In this sense, the reduced rate applies only to homes that at the time of sale can be inhabited as such.
The changes shall enter into force starting with January 1st, 2021.
