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Increasing the capital gains tax to 10% could generate short-term profit margins, especially in the context of the strong positive evolution of the last month on the Bucharest Stock Exchange (BVB), believes Antonio Oroian, a broker at Goldring.
In any case, it remains to be seen whether the measure will be implemented and what the implementation conditions will be, the broker points out, adding: "On the other hand, we have had this tax rate (ed. for capital gains from stock market transactions) until two or three years ago, so it would not necessarily be a novelty. I think it is more important to see a plan with concrete fiscal measures, because this will also restore the confidence of foreign investors".
The capital gains tax on stock market transactions in our country has been reduced to its current form - 1% for holdings of more than one year and 3% for holdings of less than one year - starting from January 2023, along with withholding tax. Previously, the tax was 10%, but with the deduction of losses from previous years.
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