Taxation of gains obtained by individuals from investments in investment funds
Until 31.12.2022, gains from investments in open-ended investment funds are taxed at 10%. The single rate applies irrespective of the date of acquisition or holding period, and applies only to individuals. BT Asset Management SAI does not withhold tax at source. The investor is solely responsible for declaring the income earned.
- by applying a rate of 1% to each gain on the transfer of securities which have been acquired and disposed of within a period of more than 365 days, inclusive, from the date of acquisition;
- by applying a rate of 3% to each gain on the transfer of securities which have been acquired and disposed of within a period of less than 365 days from the date of acquisition;
The FIFO (first in - first out) method is used to determine the holding period of the redeemed fund units and their classification in one of the two tax brackets, calculating the number of days elapsed between the date of issue of the fund units and the date of cancellation of the fund units subject to the redemption transaction.
As of 01.01.2023, losses realised from redemption transactions of fund units are not carried forward, as they represent definitive losses of the investor, regardless of the date on which they were recorded.
In the case where taxpayers are individuals who obtain cumulative annual income from several sources: investments, self-employed activities, liberal professions, rents, etc. above the ceiling set by the Tax Code, taxpayers also owe the contribution to social health insurance (CASS), according to the applicable legal provisions. The exemptions from the payment of social health insurance contributions are set out in the specific legal framework in force.