Public Finance Minister Sebastian Vladescu said yesterday hewanted a 16% flat tax to be levied on all categories of incomeearned by individuals - including interest rates, stock exchangetransactions, and luncheon vouchers. Investors and analysts warnthat the impact of this measure will be felt via a rise inspeculations and in stock exchange volatility.
The levying of a 16% tax on profits from stock exchangeinvestments, irrespective of the holding period, has yet to becomea draft law - it is a statement made by the Finance Minister, who,among other things, announced the tax would be enforced as of 1June or as of 1 July 2010 at the latest. If the measure announcedyesterday is introduced into the Fiscal Code, around 95,000 stockexchange investors, as well as another over 180,000 investors inmutual funds will no longer benefit from the 1% tax for investmentsthat extend over more than a year, but will have to contribute 16%of the profits from stock exchange investments to the state budgetirrespective of when they bought the shares or the fund units.
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