Residence Tax Guide in Romania: Requirements and Procedures

Table of Contents

Description

What is it?

Residence Tax is a compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. It encompasses different types of taxes including income tax, wealth tax, real estate tax, and others that are obligatory based on the laws in Romania.

Who needs it?

Any person who resides in Romania, whether a native or a foreign resident is required to pay Residence Tax. These residents could be individuals or companies.

Procedure

  1. Identify the type of tax you are obliged to pay. Different tax rates apply for individuals and companies and even among these, rates can vary based on income and other factors.
  2. Obtain the relevant tax forms which can be found on the national tax agency’s website.
  3. Fill out the forms with the necessary information including your financials, assets, and incomes.
  4. Find out the deadline for the payment of the tax and make sure to pay it via online banking, direct debit, or visiting the tax agency in person.
  5. Keep a copy of the paid tax forms for records and future reference.

Required Documents

  • Personal Identification Card for locals or legal residence documents for foreign residents
  • Proof of income (wage slips, income statement etc.)
  • Other relevant documents depending on the type of tax (real estate documents for property tax, business registration documents for business taxes etc.)

Providers that can do it for you

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Additional details

Please note that different rules and exemptions can apply based on the specific circumstances of the taxpayer. Always refer to the local laws or a financial adviser for more tailored advice. Failure to comply with tax obligations can lead to penalties and legal consequences.

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