Taxes on investing in Romania (2026)
Romania taxes share gains very differently depending on where your broker is based. This is the single most important thing to understand before you pick one.
| Romanian broker (withholds tax) | Foreign broker (no Romanian withholding) | |
|---|---|---|
| Gains on shares held over 365 days | 3% of each profitable sale, withheld by the broker | 16% on your yearly net gain |
| Gains on shares held under 365 days | 6% of each profitable sale, withheld by the broker | 16% on your yearly net gain |
| Who pays | The broker, automatically. The tax is final | You, through the Declarația unică (form D212) |
| Losses | Can’t be offset against gains or carried forward | Offset against gains under the general rules |
Dividends from Romanian companies are taxed at 16% from 2026 (up from 10%), withheld by the company that pays them. Dividends from foreign companies are declared in the Declarația unică; tax already paid abroad may be credited under Romania’s double-taxation treaties.
Romanian government bonds traded on the Bucharest Stock Exchange (such as Fidelis) are exempt from income tax.
The health contribution (CASS)
On top of income tax, investment income can trigger CASS (the 10% health contribution). It is not charged on each gain. Instead, your non-salary income for the year (gains, dividends, rent, interest, crypto) is added up and compared with fixed thresholds based on the minimum wage at the start of the year. For 2026 (minimum wage 4,050 lei):
- under 24,300 lei: nothing to pay
- 24,300–48,600 lei: 2,430 lei
- 48,600–97,200 lei: 4,860 lei
- over 97,200 lei: 9,720 lei
Broker withholding does not cover CASS, so even investors using a Romanian broker may need to file the Declarația unică for it.
Deadline
The Declarația unică for a given year is due on 25 May of the following year (so 25 May 2027 for 2026 income). You can file it online in ANAF’s SPV portal.
Watch this space
On 1 October 2026 the European Commission opened an infringement procedure against Romania over the gap between the 3–6% rate for local brokers and 16% for brokers elsewhere in the EU. Rules may change; we’ll update this page when they do.
Local tips
- Using a Romanian broker is the simplest option for most beginners: tax is withheld automatically and, if your only investment income is gains below the CASS threshold, you may have nothing to file.
- With a foreign broker, keep each year’s annual statement. You’ll need it to calculate your net gain in lei for the D212.
- The BVB lists its own ETFs on Romanian shares, including the BT Romania ETF launched by the Banca Transilvania group in April 2026.
- Taxes are calculated in lei: foreign-currency gains are converted at the exchange rate rules set by ANAF.
This is general information, not tax advice. Check your situation with ANAF or a qualified accountant.
Sources
Brokers you can use from Romania
Researched October 2026. Listed for information, not as a recommendation. Fees change often, so compare them on each broker's official pricing page.
Local brokers
International platforms
- Real shares & ETFsYes
- CFDsYes
- Regulated byCySEC (EU), FCA (UK), ASIC (AU) +2
- Real shares & ETFsYes
- CFDsYes
- Regulated byKNF (PL), CySEC (EU), FCA (UK) +2
- Real shares & ETFsYes
- CFDsYes
- Regulated byFCA (UK), CySEC (EU), FSC (BG) +1
- Real shares & ETFsYes
- CFDsYes
- Regulated bySEC / FINRA (US), FCA (UK), Central Bank of Ireland (EU) +5
- Real shares & ETFsYes
- CFDsNo
- Regulated bySEC / FINRA (US), CFTC / NFA (US), SIPC member
About CFDs: some platforms above also offer CFDs. These are leveraged products and most retail CFD accounts lose money. For long-term investing, make sure you are buying the real shares or ETF units.
Your three routes
Why you may not be able to buy US ETFs
EU rules (PRIIPs) require a standard Key Information Document for many retail products. Most US-domiciled ETFs don't publish one, so brokers serving retail clients in Romania usually block them. The usual alternative is UCITS ETFs: European-domiciled funds tracking the same indexes.
The costs that matter
See how fees change the end result with the compound interest calculator.
Who protects you
The ASF (Financial Supervisory Authority) supervises investment firms in Romania. Before opening an account, find the broker in the official register, or confirm its licence lets it serve residents of Romania. No clear regulator is a red flag.
As an EU country, Romania follows EU investor-protection rules (MiFID II), and the EU compensation framework protects at least €20,000 per investor if a firm fails while holding your assets.