Moldovan budget revenues from income tax payments by individuals renting out real estate for 11 months of 2024 increased by 29.7% to 67.4 million lei, compared to the same period in 2023
The State Tax Service (STS) reported this, noting that as a result of voluntary compliance and informing actions, in January-November 2024, 2138 individuals renting/using real estate were detected. For 272 individuals who rented out real estate and did not comply with the legislation, the following payments to the budget were additionally charged: basic payments - 522.3 thousand lei, penalties for late payments - 59.1 thousand lei and fines - 26.5 thousand lei. In total for 11 months in 2024, the STS registered 24049 contracts for leasing real estate to other individuals, which is 4.5% more than in the same period a year earlier. The STS reminded that in accordance with the Tax Code, individuals who are not engaged in entrepreneurial activity, renting out real estate to other individuals for possession and/or use (property rent, lease, usufruct), pay tax at the rate of 7% of the monthly value of the contract. These persons are obliged to register the contract with the State Tax Service within 7 days from the date of its conclusion. This tax is paid monthly, not later than the 25th of the current month, in accordance with the procedure established by the State Tax Service. Citizens who do not fulfill these obligations are fined in accordance with the Tax Code. Also, the STS reminded individuals who are not engaged in entrepreneurial activity and who transfer real estate into possession and/or use to other individuals using Booking, Airbnb and other platforms about the need to fulfill tax obligations related to the income received. // 10.12.2024 - InfoMarket.
