Romanian Government withdraws proposal to apply anticipated tax on capital market gains

The Romanian Government decided not to apply the anticipated tax on capital market gains, which was a change initially included in the Fiscal Code. Investors on the stock market will continue to pay the tax at the end of each year, on the difference between the gain and loss on trading with shares and investments in mutual funds for the year.

Initially, the anticipated tax was among the changes in the Fiscal Code, and would have entailed mediation companies or investment administration companies calculating and keeping the tax for each transaction as anticipated payment. Brokers and fund administrators would have been obliged to notify clients in writing about the profit or loss registered, as well as about the tax calculated and kept as anticipated payment, for all transactions during the year until February the next year. According to pundits, this would have sent investors to online platforms abroad, where there isn't such an anticipated tax requirement, while the state did not know for sure how much money it would have raised by using the anticipated tax system. editor@romania-insider.com