1. How to tax income received by individuals from renting?

Taxpayers who earn income from renting property from the staff are required to submit a statement of estimated income, within 15 days of the contract between the parties. Declaration of estimated income is submitted with a registration tax at the contract concluded between parties.
The amount of rent stipulated in the contract concluded between parties for each fiscal year, (regardless of when her collection) represents gross income. Attention! In case the expenses fall under the legal requirements, the task is performed by the owner tenant, their value will increase gross income.
Net income on which tax is applied may be set in two ways:

1. by subtracting from gross income to a rate of 25% applied to gross income.
2. determining net income in real system - this implies a decrease in gross income the costs incurred for maintenance and repatiile space in good condition (no electricity, telephone, water, etc.).

The share of tax revenue obtained from individuals of rent is 16% applied to net income. Payments are made in 4 equal, up to date including 15 of the last month of each quarter.
If, according to contract terms, the revenue from property transfer usage is the equivalent in lei of an amount in foreign currency, the estimated annual income is performs the exchange rate of the currency market, served by the National Bank of Romania, from the previous day that performs tax regulation.
Attention! Since 1 January 2008, these provisions are valid only in conditions in which the end of the previous person has a maximum of 5 lease or rent contracts.