The income tax for private individuals who make money from the delivery of agricultural products to business entities is raised from 3% to 5%, IPN reports, with reference to the fiscal policy for 2018.
According to the Ministry of Finance, the measure is designed to ensure fiscal equity in the case of private individuals who earn other incomes than salary ones by gradually raising the tax to the standard rates for private individuals. The move is also aimed at increasing the amounts collected into the state budget.
Under the Tax Code, the standard tax rate for private individuals (and individual entrepreneurs) is of 7% of the annual taxable income that is lower than 33,000 lei and of 18% for incomes that are higher than this sum.
