Rightful-owners of FP shares exempted from paying taxes for the BSE trade

Newsroom 17/01/2011 | 17:30

Romanians which are rightful-owners of Fondul Proprietatea (FP) shares will not be taxed on the profit achieved if they decide to sell them on the stock exchange, after FP’s listing, said Dana Mirela Ionescu, GM and president of brokerage firm Raiffeisen Capital &Investment, company in charge with the listing.

However, investors who bought the fund’s shares on the “gray” market will pay a tax calculated on the difference between the buying price and the sale price, said Ionescu.

Should an investor lose their sale documents, the transaction will be taxed at full value, as the purchase price will be considered zero by default.

Stock market incomes are taxed with 16 percent regardless of the stock possession interval. The FP’s listing on the Bucharest Stock Exchange is set for January 25. The fund will be listed directly, without an initial public offer.