The government of Romania is planning to introduce a 10% tax on the profits of speculative real estate transactions, Finance Minster Ionut Popescu revealed this week.
In an interview with the Adevarul newspaper, Popescu divulged that the 10% tax will be effective from April 1, but will “only apply to speculative deals.”
Under the government’s plan, the tax would apply to profits from houses or real estate bought and sold within a certain timeframe, although this time limit has yet to be determined.
As the country approaches accession to the European Union, expected in 2007, it has been estimated by some analysts that the price of luxury homes in Romania could soar by 25%, according to Reuters.
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