Baker Tilly Klitou sent us this important reminder for those with assets in Romania
With regard to the upcoming year closing, according to the Order 3055 / 2009 for approving the Romanian Accounting Regulations, we kindly inform you that you have to perform an assessment of the tangible assets owned by the company.
Furthermore, according the art. 253 of the Law 571 / 2003 regarding Fiscal code with subsequent changes, the legal entities are required to compute and pay taxes on the buildings owned, as follows:
· between 0,5% and 1,5% of the value of the building, if the owner has performed at least an evaluation of the buildings in the last 3 fiscal years;
· between 10% and 20% of the value of the building, if the owner has not made any evaluation of the buildings in the last 3 fiscal years;
· between 20% and 40% of the value of the building, if the owner has not made any revaluation of buildings in the last 5 fiscal years.
Should you need to perform an evaluation of buildings owned by the company, so that the level of taxes payable by the company for the buildings owned to be ranked between 0,5 and 1,5 of the value of the building, please send your requests back to us to the address info
Baker Tilly Klitou is an independent member of Baker Tilly International which is a global network of high quality, independent accountancy and business services firms, all of whom are committed to providing the best possible service to you, wherever you needs help, in Romania and across the world.
Baker Tilly Klitou is member of Romanian Chartered Accountants Body (CECCAR), member of Romanian Chamber of Tax Advisors (CCFR), member of Romanian Chamber of Auditors (CAFR), as well as member of Romanian Evaluators Association (ANEVAR).
Our team includes qualified professionals able to provide full range of accounting and payroll services, tax consulting, audit as well as evaluation of properties.
Should you need further clarifications regarding the aforementioned information, our consultants are at your disposal.
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