Stock Exchange investors holding profitable stocks for more than a year have two more days to sell them benefiting from a 1% tax on gains, compared to the 16% tax that will come into effect starting July 1 in the wake of fiscal code changes.
Brokers say investors and businesspeople who acquired major stakes in a company or bought companies several years ago at very low prices can generate significant savings if they transfer them to a company or to a relative, paying a 1% tax on derived profit, instead of the 16% tax that will apply starting July 1. Recently, there have been rising cases where investors have successively sold and bought shares, thus cashing in on previous profits, so as to avoid the 16% tax. Another alternative being used, also less costly, is that of transferring the stake to a relative, in order to limit trading costs.
Source: Zf.ro - 30/06/2010
