Romania 1 to 3% cap gains tax on share sales, crypto from 1 Jan 2023.

[orangekangaroo]

Hot off the press. Romania to introduce 1% cap gains tax for holdings held more than 1 year and 3% for capital holdings held less than 1 year. You can not offset capital loses.

New taxation to start Jan 2023.

https://m.bvb.ro/AboutUs/MediaCente...inal-approval-in-the-Romanian-Parliament/5637

 

[orangekangaroo]

Sorry I misread and see that it only applies to Romania stock market.

 

[clemens]

bad boy You will need to setup a Romania Micro company to get just close to such tax rates on profits.

 

[orangekangaroo]

bad boy You will need to setup a Romania Micro company to get just close to such tax rates on profits.

Already have the micro company. This is cap gains for personal held Romania shares.

 

[boogieboogie]

Already have the micro company. This is cap gains for personal held Romania shares.

Sorta OT but I'd be interested in knowing how Romania as a country and the microcompany setup have been treating you, you'll have a useful perspective on it from your experience in other countries. Romania is supposedly an extremely corrupt bureaucratic hell normally, but to what degree is that mitigated just hiring accountants to deal with that for you? Any unpleasants surprises so far?

 

[clemens]

May I ask, what are you using the Micro company for, doing business in Europe with other offline businesses or only online business?

If it's the latter what do people say when you ask them to invoice a company in Romania ?

 

[orangekangaroo]

Sorta OT but I'd be interested in knowing how Romania as a country and the microcompany setup have been treating you, you'll have a useful perspective on it from your experience in other countries. Romania is supposedly an extremely corrupt bureaucratic hell normally, but to what degree is that mitigated just hiring accountants to deal with that for you? Any unpleasants surprises so far?

Not yet any.

May I ask, what are you using the Micro company for, doing business in Europe with other offline businesses or only online business?

If it's the latter what do people say when you ask them to invoice a company in Romania ?

No one cares that I invoice them from Romania. Why would that be, EU country, VAT registered. Plus all EU services and payment processing available to you.

 

[algotrader]

This is cap gains for personal held Romania shares.

Bulgaria did the same but with 0% CGT on the sale of Bulgarian listed shares for individuals. Turned out that this was against EU law because discriminating against other EU countries so now capital gains from shares listed on any EU/EEA exchange are tax free as well.

 

[boogieboogie]

Not yet any.

Cool. How's life in Romania? What city do you live in/would you recommend for an english-speaking expat? Much difference with more developed/rich EU nations at all?

Bulgaria did the same but with 0% CGT on the sale of Bulgarian listed shares for individuals. Turned out that this was against EU law because discriminating against other EU countries so now capital gains from shares listed on any EU/EEA exchange are tax free as well.

Interesting. I guess the opposite could also happen here though - taxing everybody more instead of less

 

[orangekangaroo]

Cool. How's life in Romania? What city do you live in/would you recommend for an english-speaking expat? Much difference with more developed/rich EU nations at all?



Interesting. I guess the opposite could also happen here though - taxing everybody more instead of less

I live in Timisoara, I wanted a place with airport and short drive to Hungary and rest of Europe. I would say Bucharest and Cluj are also good. Brasov will be great too when airport opens in November. Difference is that there are still parts with ugly Communist style high-rises. Besides that there are lovely old town centres with great good. Standard of living and modern conveniences is great. Other downside is that healthcare is not great at all.

 

[thedirtyteller]

I live in Timisoara, I wanted a place with airport and short drive to Hungary and rest of Europe. I would say Bucharest and Cluj are also good. Brasov will be great too when airport opens in November. Difference is that there are still parts with ugly Communist style high-rises. Besides that there are lovely old town centres with great good. Standard of living and modern conveniences is great. Other downside is that healthcare is not great at all.

I'm a self-published writer and I'm currently thinking of setting up a micro company in Romania. My expenses are near zero and I make around 3-5k USD a month. What are the expenses of having a micro company? Hiring accountants, renting an address etc? And from what I'm doing will I qualify for a micro company? Most of my sales come from Amazon.

I live in Timisoara, I wanted a place with airport and short drive to Hungary and rest of Europe. I would say Bucharest and Cluj are also good. Brasov will be great too when airport opens in November. Difference is that there are still parts with ugly Communist style high-rises. Besides that there are lovely old town centres with great good. Standard of living and modern conveniences is great. Other downside is that healthcare is not great at all.

According to a guy on reddit, you have to pay 25 percent for social contributions when receiving dividend, is that true? That's a lot more than 6 percent than what I've read.

https://www.reddit.com/r/Romania/comments/qkia6i

 

[pucecacou]

About 10% capital gains on crypto, can you offset the losses ?

 

[thinkaliyum]

No comments on this?

 

[orangekangaroo]

About 10% capital gains on crypto, can you offset the losses ?

Micro companies pay taxes on turnover. Trading generates a lot of turnover so not a good mix. You can not offset losses.