Frequently Asked Questions

What documents do I receive from BT Asset Management SAI and during what period?

Annual Portfolio Statement: At the beginning of each year, BT Asset Management SAI sends you the Portfolio Statement for the previous financial year to the stated mailing address. This shows the gain/loss for the transactions made during that year.

Please note: The transmission of portfolio statements will only be made to investors who have carried out redemption operations in that year. The portfolio statements can also be downloaded from the On-line Account page, a free service offered to all our clients.

What documents must be completed by the taxpayer and where are they sent?

Based on the portfolio statement received from BT Asset Mangement SAI SA, the tax payable is determined.

On the basis of the Portfolio Fact Sheet issued by the administrator, the Single Declaration form is filled in, containing your identification data and the declaration of the gains resulting from the investment activity.

By when is the Single Declaration form due and when is the final tax due?

The return must be submitted by individuals no later than May 25 of the year following the year in which the income is realized. The payment of the corresponding tax must also be made by the same date.

Are any losses from one tax year carried forward to the following year?

No, from 01.01.2023 onwards you cannot offset gains against losses.

In recent years, have there been any exceptions to the gains tax?

In the case of individuals, the 2009 gains are not taxed, based on the GEO amending the tax code, being valid only for 2009 gains regardless of the period of acquisition of the fund units. Since January 2010, the differentiated taxation according to the holding period has been back, but the legislation has been amended again since July 1st and the single tax rate has been back regardless of the holding period (16% tax on the gain).

Is the taxation of Romanian residents different from that of non-residents?

Non-resident individuals realizing capital gains in Romania are subject to the same tax treatment as Romanian residents. If non-resident citizens present a tax residence certificate at the time of the redemption, then taxation will be under the Double Taxation Avoidance Convention, with the tax payable to the country with the lower tax rate (the country of tax residence or Romania, as the case may be).