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Oct
50% Tax Deductions: Possible One-Year Extension Only for Primary Residences
Oct 22, 2024
50% Tax Deductions: Possible One-Year Extension Only for Primary Residences
The 50% tax deductions for building renovations, which also include the installation of photovoltaic systems, may be extended until the end of 2025, but only for primary residences. This proposal was recently approved by the Council of Ministers. Initially, starting from January 2025, the rate was set to drop to 36%, but now an extension is expected solely for primary homes. For secondary residences, the government plans to apply the 36% rate.
The text of the 2025 Budget Law is currently under parliamentary review and must be approved by December 31, 2024, to come into effect on January 1, 2025.
Coenergia's Team.