Taxation at source, starting January 1, 2023, of the income obtained by natural persons from the redemption of fund units issued by the investment funds managed by BRD Asset Management S.A.I.
Starting from January 1, 2023, the tax on the income obtained by natural persons from the redemption of fund units is calculated and withheld at source by the management company, BRD Asset Management S.A.I.
The tax rate is different, depending on the holding period of the fund units, as follows:
1% of the gain realized from the redemption of fund units that were acquired and disposed of in a period longer than 365 days, inclusive, from the date of acquisition;
3% of the gain realized from the redemption of fund units that were acquired and disposed of within a period of less than 365 days from the date of acquisition.
The determination of the holding period of the fund units is carried out on the FIFO (first in, first out) principle.
The determination of the gain/loss is carried out for each redemption transaction, on the date of establishing the redemption value of the fund units, by calculating the difference between the sale value and the purchase value, calculated on the basis of the weighted average price for the number of fund units redeemed. Possible costs related to the subscription/redemption of fund units are also taken into account.
For non-resident natural persons in Romania who provide proof of residence in a state with which Romania has concluded a convention for the avoidance of double taxation, by presenting a tax residence certificate valid for the date on which they request the redemption, no withholding tax is withheld.
Additional details:
The investor no longer has to submit the Single Declaration for the tax on the transfer of securities and for its payment. The submission of the Single Declaration 212 for the fiscal year 2023 is required ONLY for the declaration and payment of the contribution to social health insurance (CASS), in the situation where the non-salary income obtained by the investor during 2023 is over the value of 6 gross minimum wages per economy (18,000 RON);
To determine the non-salary income obtained in 2023, in addition to investment income (such as those obtained from the redemption of fund units, from the trading of other securities, interest or dividends, etc.) and income from other sources, for example: rents, independent activities, intellectual property rights, agricultural activities, forestry and fish farming, etc., obtained in Romania and abroad, depending on the type of income source.;
If the investor redeemed fund units issued by a fund denominated in EUR or USD, then the gain/loss is converted into RON at the exchange rate communicated by the BNR valid on the date of payment of the amounts related to the redemption and is accumulated ( ă) with the rest of the gains/losses, as the case may be, from the other funds.
The SINGLE DECLARATION must be submitted by May 25, 2024 including:
Through the "Virtual Private Space" service, available on the www.anaf.ro portal;
Through the "Declaration submission" service, available on the www.e-guvernare.ro portal based on the qualified digital certificate.
In paper format, directly at the fiscal body's registry or by post, with confirmation of receipt;
