Real Estate Tax May Increase By 50%

The tax on real estate may increase by 50% from next year.This will become reality if the municipalities continue to determine the tax in the same way - on the basis of the tax evaluation of real estate, BNR announces.The Ministry of Finances offers from next year tax evaluation to increase by 50%. So that the real estate tax does not increase automatically, as well as other taxes on acquiring real estate, financiers offer that municipalities change the formula for calculation as the weight of the tax assessment is decreased.For example, on the real estate tax the size to become 1-2 permille and not 1,5-3, as it is now. Each municipal council must determine local taxes by the end of 2009. It is up to the municipality to determine whether to increase taxes and respectively change the formula, so that citizens are not taxed too heavily."Inheritance" tax will be owed if you are given a property over 70 thousand levs and not 250 thousand levs, as it is the case this year.Taxes on gasoline will not be increased in the next 2 years. "Income" and "Profit" tax remain at the same levels of 10%. VAT will remain 20% next year.