The condominium co-owners associations are exempted from paying the income tax as from January 1, 2020, as it is provided in the budgetary-fiscal policy for this year. According to the Ministry of Finance, the measure is designed to ensure equal fiscal treatment towards condominium co-owners associations, similar to that used in the case of other noncommercial organizations.

In a response for IPN, the Ministry of Finance said the Tax Code stipulates that the noncommercial organizations are exempted from paying the income tax. This provision does not apply to parties and other sociopolitical organizations, trade unions, employer associations, religious organizations and legal entities created by these, organizations founded by public authorities, cooperative businesses and other organizations whose founding and functioning are regulated by special laws.

The condominium co-owners associations are organizations of homeowners who grouped together to administer, maintain and use in concert the condominium property. They set taxes and payments for dwellers with the aim of ensuring the provision of such services as maintaining of the block, elevator, etc. But these payments are not collected with the aim of making profit.