Hacker paralyses property transactions in Romania

Financial auditor Oana Luca calls in Cotidianul for the planned tax increase on property purchases from nine percent to 21 percent to be postponed for a year:

“If the government doesn’t intervene quickly, buyers who have fulfilled all the statutory requirements stand to lose their entitlement to the nine percent tax rate for purely administrative reasons. If the scheme were to be extended until 31 July next year, it would be a one-off, time-limited and proportionate measure. It wouldn’t create any new beneficiaries, nor would it alter tax policy for the current market, but it would prevent administrative problems and the gridlock in public systems from penalising the buyer. The government and parliament must act now.”