Recently, fiscal changes have been brought to the tax on construction applicable percentage (a tax introduced at the beginning of 2014 – for more details regarding the initial fiscal provisions, please refer to our tax alert from 2014).
In the light of present legislative changes, starting with the year 2015, tax on construction has been reduced from 1.5% to 1%.
The new fiscal changes highlight several clarifications as regards the exclusions from the taxable base. It is mentioned, among others, that the value of reconstruction, modernization, consolidation, change or extension to the rented building, taken in administration or use, is non-taxable.
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