taxation

Starting with 01.01.2023, the gains obtained by individual investors from investments in investment funds will be taxed through withholding tax, as follows:

• by applying a rate of 1% on each gain from the transfer of securities that were acquired and disposed of in a period longer than 365 days, inclusive, from the date of acquisition; 
• by applying a rate of 3% on each gain from the transfer of securities that were acquired and disposed of in a period less than 365 days from the date of acquisition;

The gain is determined by applying the weighted average price (PMP) method, including redemption costs, on each fund, regardless of the holding period.

Starting from January 2023, SAI Atlas Asset Management SA will calculate and withhold the tax on investment gains, on the date of determination of the redemption value of the fund units. Afterwards, the management company will transfer the tax to the state budget, up to and including the 25th of the month following the one in which it was withheld, and it is considered final tax.

Starting with the date of 01.01.2023, the losses realized from the redemption transactions of the fund units are not carried forward, they represent definitive losses of the investor, regardless of the date on which they were recorded.

Portfolio sheet contains consolidated profit/loss information for each fund managed by SAI Atlas Asset Management SA for which investor redemptions have been made. According to the legal provisions in force, SAI Atlas Asset Management SA is obliged to send the Portfolio Sheet to investors by February 28 of the current year for the previous year. This will be sent to the mailing address or you can obtain it free of charge at the headquarters of SAI Atlas Asset Management SA in Bucharest, Sos. Bucuresti-Ploiesti no. 7A, office 1, floor 6, sector 1.

According to Law 227/2015, art. 170, natural person investors who obtained gains from the redemption of fund units, have the obligation until May 25, 2024 to submit (for the fiscal year 2023) Single Declaration 212, for the declaration and payment of the contribution to social health insurance, CASS, ONLY if the winnings are:

• above the level of 6 gross minimum wages per economy, in the amount of 10% of 6 gross minimum wages per economy;
• between 12 and 24 gross minimum wages per economy, in the amount of 10% of 12 gross minimum wages per economy; 
• above the level of 24 gross minimum wages per economy, in the amount of 10% of 24 gross minimum wages per economy.

Careful: According to Law 227/2015, the Single Declaration is mandatory ONLY if the earnings exceed the level of 6 gross minimum wages per economy, starting with the declaration to be submitted in 2024.