Increase in Income Tax Revenue from Individual Landlords
Income tax revenues from individuals renting out real estate have seen a significant increase of 34.1% in the first seven months of this year compared to the same period last year. Specifically, property owners renting out their properties have contributed 40.9 million lei in taxes to the state this year.
According to data from the State Tax Service (STS), 1,400 individuals engaged in renting out real estate have been identified from January to July 2024. Additionally, inspections were conducted on 188 individuals renting out properties, resulting in additional payments to the budget amounting to 338,000 lei, along with a late payment surcharge of 50,000 lei and a fine of 16,400 lei.
“As a result of actions taken in the first seven months of 2024, 14,677 rental contracts for real estate have been registered, reflecting an increase of 10.3% compared to the same period in 2023,” the STS reported.
The State Tax Service reminds individuals who are not engaged in entrepreneurial activities and who transfer possession or use of real estate to other individuals, including through platforms such as Booking, Airbnb, and others, that they are required to comply with legislation and pay taxes to the state.
