BUCHAREST, Dec. 10 (Xinhua) -- Romania's Constitutional Court on Wednesday cleared a tax-hike package to take effect on Jan. 1, dismissing an appeal by the Alliance for the Union of Romanians (AUR) against the sweeping fiscal law backed by Prime Minister Ilie Bolojan.

The Court ruled AUR's challenge to the local tax increases unfounded, allowing the government's reform package to enter into force at the start of next year.

The reform had first been pushed through by a confidence vote in September but was struck down on procedural grounds, forcing parliament to revise the legislation.

AUR then filed a second challenge, temporarily delaying its entry into force and complicating work on the 2025 budget.

To avoid a budget setback, the government requested the Court to move its hearing from early 2025 to Dec. 10.

Under the law, property taxes on homes and apartments will rise by roughly 80 percent, vehicle taxes will be tied to pollution standards, and cryptocurrency transactions will face a 16 percent levy. Stock-market gains will also be more heavily taxed.

A new 25-lei (5.8 U.S. dollars) fee will apply to parcels valued under 150 euros arriving from outside the European Union.

The legislation further allows authorities to declare companies without a Romanian bank account inactive, with dissolution possible after one year, and requires all businesses to accept card payments. Enditem