BUSINESS

Asset managers demand MFP to reinstate the annual profit tax

The Romanian Association of Asset Managers (AAF) demands the Ministry of Public Finance (MFP) to reinstate the old system of paying the tax on the profit earned on the capital market once a year, by submitting only one tax statement, instead of the five provided by current legislation, Mediafax informs. Under the acting tax collection system, each investor on the capital market must declare his gain and pay the tax on a quarterly basis, plus a general statement for the previous year that will serve as basis for a final adjustment of the tax.

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