The personal exemption for private individuals (incomes on which no tax is paid) in 2018 will rise to 11,280 lei, as opposed to 10,620 lei in 2017. The exemption for maintained persons will increase from 2,340 lei this year to 2,530 lei next year, IPN reports, with reference to the draft fiscal and customs policy for 2018 presented by the Ministry of Finance for public consultations with the business and expert communities.
The taxation rates remained at the same level as now: 7% and 18%. But the taxable income rates increased. Thus, the tax of 7% will be imposed on taxable incomes of up to 33,000 lei, as opposed to 31,140 lei at present, while the tax of 18% on incomes larger than this sum.
The amounts received in the form of financial assistance from trade unions will not be taxed if they do not exceed the forecast average official salary.
Under the draft fiscal and customs policy for 2018, the legislation on the imposition of VAT and excise taxes will continue to be adjusted to the EU directives. The tax and customs concessions provided to duty-free shops will be gradually eliminated. The income tax will be imposed not only on luxury property as in 2017, but also on cars worth over 1.5 million lei.
The public consultations will continue until July 17. Minister of Finance Octavian Armasu said effort will be made for this document and the 2018 draft budget law to be examined and adopted by the end of this year.
