The taxable income in 2017 will be increased by adjusting it to the rate of inflation (forecast at 5% for next year), up to 31,140 lei, as opposed to 29,640 lei this year. The income tax rates will remain the same - 7% on incomes up to 31,140 lei and 18% on larger incomes, IPN reports, quoting the draft fiscal and customs policy for next year that was endorsed by the Government.
The personal annual exemption will increase from 10,128 lei this year to 10,620 lei in 2017. The increased personal exemption for particular groups of people will be raised from 15,060 lei to 15,840 lei, while the exemption for maintained persons will be 2,340 lei, up from 2,256 lei.
The private individuals, who earn money from independent trading activities with other private individuals, without representing a legal organizational form of entrepreneurial activity, will pay a tax equal to 1% of their revenues, but not less than 3,000 lei a year. This applies to private individuals whose annual incomes from trading do not exceed 600,000 lei.
Patent-based entrepreneurial activity is banned from 2017. The private individuals who will perform independent trading activities will be obliged to keep a cash register, but the price of this will be deducted from the income tax during the first fiscal period.
A common taxation system for professional activities in the justice sector will be introduced from 2017. The tax rate will be 18%.
The income tax rate for persons who lease out real estate to other persons will be raised from 5% to 10%.
According to the informative note to the bill, the new fiscal and customs policy measures are expected to lead to the collection of additional incomes of about 633 million lei into the state budget. The bill is to be debated and passed by Parliament.
