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In the Official Gazette no. 1079 of 12.11.2020, was published the Law no. 248/2020 for the amendment of art. 291 of Law no. 227/2015 regarding the Fiscal Code.
According to the Law, the threshold to which the reduced 5% VAT rate in Romania is applied is increased in case of the delivery of housing as part of the social policy, with a usable area of maximum 120 m², excluding household annexes, purchased by individuals.
Thus, starting with January 2021, for the application of the reduced VAT rate of 5%, the housing value, including the land on which they are built, must not exceed the amount of EUR 140,000, equivalent to RON (currently, the threshold has the value of RON 450,000).
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