Tax changes can cost gov't RON 7bl (real estate investors)
Publicat:Tax changes can cost gov't RON 7bl (real estate investors)
The suggested tax changes affecting real estate development and the construction industry may lead to losses of RON 7 billion in annual government revenues, equivalent to a decrease in business volume by 10-12%, according to a press statement of the Association of Real Estate Investors in Romania (AREI), told Agerpres.
In a letter submitted to the Romanian government, AREI says that the decrease will speed up the contraction of the domestic real estate market, as the industry's contribution to Romania's GDP formation already decreased…
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