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Taxation of Income Obtained by Natural Persons from Lease Contracts in 2011

Author

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  • Lucian CERNUȘCA

    ("Aurel Vlaicu" University of Arad)

Abstract

The article discusses a series of conceptual and practical aspects related to the taxation of incomes obtained by natural persons from lease contracts in the year 2011. Under the provisions of Law No. 296/2020 amending and complementing Law No. 227/2015 on the Fiscal Code a new mechanism of determining and declaring annual income obtained from leasing out rooms situated in personal dwellings for touristic purposes has been approved. These incomes are determined based on the tax system’s annual income tax rules, without the possibility of opting for the system of determining the real income based on accounting data. As a novelty, from 2021 onwards, taxpayers who earn income from the transfer of the use of property under a lease contract, where the lease is the equivalent in lei of a currency, determine the gross annual income on the basis of the monthly lease valued at the average annual exchange rate of the foreign exchange market, communicated by the NBR, in the year in which the respective income was obtained.

Suggested Citation

  • Lucian CERNUȘCA, 2021. "Taxation of Income Obtained by Natural Persons from Lease Contracts in 2011," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 2(6), pages 46-53, June.
    • Handle: RePEc:ahd:journl:v:2:y:2021:i:6:p:46-53
    DOI: 10.37945/cbr.2021.06.06
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    More about this item

    Keywords

    lease contract; declarative obligations; self-taxation; flat-rate; single statement;
    All these keywords.

    JEL classification:

    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law

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