Thermopane glass, deductible

Thinking of having thermopane glass for your home? If you have postponed it until now, it may be worth waiting some more until next year, when the expenses made for the thermal insulation of your flats and for maintaining your home warm could be deemed as deductible by the Exchequer and therefore deducted from the tax levied on the individuals making such investments. At least this is what Finance minister Mihai Tanasescu said yesterday.

He explained such a provision could be included in the Fiscal Code draft being devised at the moment, and may extend as to include those people investing in home improvement and in installing heating systems for a flat or for the entire block for that matter.

“Every expense a person makes for improving his or her flat by adding thermopane glass, faience or even heating systems might be tax deductible. This would stimulate such investments, would cut thermal power consumption in those flats and create new jobs for those making such supplies for homes,” Tanasescu told a seminar on the Fiscal Code organised by Finmedia.

The cost of replacing the carpentry of a specific flat with thermopane amounts to more than 1,500 euros for a three-room flat, if calculated at an average price of 150 euros/sqm of thermopane glass.

According to Premier Adrian Nastase, taxation in Romania has often been deemed as an “obstacle” for the economic growth and development, due to its too many taxes and intricate legislation. Starting next year, the Exchequer is willing to acknowledge the expenses made by individuals for home insurance, private health care insurance and contributions to occupational pension schemes as tax deductible. razvan.voican@zf.ro