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Romania Should Not Tax Investors’ Bourse Pft Next Yr – Presidential Candidate

Romania's social democrat presidential candidate Mircea Geoana on Tuesday said the authorities' last year decision not to tax capital market gains should be kept in 2010, to stimulate the stock market investments.
Romania Should Not Tax Investors’ Bourse Pft Next Yr - Presidential Candidate
03 nov. 2009, 13:17, English

The decision not to tax capital market gains was applied early this year to help investors cope with the economic crisis.

In October 2008, the former liberal government decided not to tax capital gains in 2009, to allow investors to report this year’s losses in 2010, to reduce the value of their tax on profit.

Geoana also said Tuesday, before the opening bell on the Bucharest Stock Exchange, that Romania should take advantage of the revenue resources of the Fondul Proprietatea investment fund and the trade of carbon dioxide emission certificates.

„We have a few hundreds of million of euros from Fondul Proprietatea, and we could gain over EUR1 billion from trading green certificates. These issues must be debated by the future prime minister and finance minister, to find a use for these funds,” he added.

Green certificates confer a company the right to emit a ton of carbon dioxide in equivalent within a certain period. One green certificate accounts for one megawatt hour of electricity obtained out of renewable energy sources.