Some of the features of the new Tourism Law in Romania

Investors in the tourism sector will be exempted from the tax for re-invested profit from 1 to 5 years up to the investment’s value, according to the project of Tourism Law, launched for public debate by the Ministry for Tourism.

For investments with values from EUR 100,000 to 500,000, the exemption period is 1 fiscal year. For amounts from EUR 500,001 to 2 mil., the period is 2 fiscal years. For values between EUR 2 mil. and 5 mil., the period is 3 years. For investment value from EUR 5 mil. to 10 mil., the period is 4 years, while for amounts over EUR 10 mil., the period is 5 fiscal years.  

Also, VAT 9% for all tourism services will be applied, alcoholic drinks not included.

According to the New Tourism Law project, areas and tourism resorts, as well as spa resorts benefit of facilities to develop the general infrastructure for tourism development, improvement and environment protection through measures and special programs of the Ministry of Tourism, collaborating with the local public authorities and other institutions interested to promote tourism activities.   

Therefore, the hotel tax will be of 1% of the accommodation rate, VAT and breakfast not included.

Up to 20% from the revenues resulting from the hotel tax will be exclusively destined to promote tourism activities on the administrative territory where the hotel is located. 80% will be invested in tourism infrastructure of the administrative territory where the hotel is located.

Taxes on buildings and lands will decrease by 50% for buildings and lands used exclusively for tourism services, functioning at least 5 months and no more than 6 consecutive months during one year time.

Sursa: Financiarul [01.12.2009]