Tax on investments
What the state takes from interest, dividends and gains on selling shares, in 2026.
What taxes apply to investments in 2026?
In Romania, dividends paid from 1 January 2026 are taxed at 16% (those paid on 2025 interim accounts stay at 10%), deposit interest at 10%, and income from government securities is untaxed.
Gains on selling shares depend on the intermediary. Through a broker resident in Romania or with a permanent establishment here, tax is withheld at source: 3% of the gain if you held the shares at least 365 days, 6% if less. Through a broker that does not withhold in Romania, you declare the year's net gain yourself in the single tax return and pay 16%.
Above a threshold, the 10% health contribution (CASS) is added, calculated on a fixed base of 6, 12 or 24 minimum wages, not on the whole income.
From March 2026 salary income, at the employer for your declared main job (funcția de bază), you can deduct up to the RON equivalent of €400 a year from the taxable base for shares, bonds and ETF units paid for and settled from 1 March 2026. The deduction applies in the settlement month, with documents from eligible entities under Article 96¹(1); transaction costs are excluded. Not every broker qualifies. This cap is separate from Pillar III. At a 10% tax rate, using the full cap may save up to the equivalent of €40 if sufficient taxable base is available. The purchase deduction does not change tax on gains when selling. OUG 8/2026, Article 6 point 34 and Article 10(11), checked 18 October 2026.
The rules changed twice in 2025 and may change again. The rules table on the main page has the date and source for each value.
A 1,000-lei gain on shares held two years, sold through a Romanian broker: 30 lei tax, withheld automatically.
How much tax do I pay on share gains in 2026?
3% if you held the shares at least 365 days and 6% if less, withheld by a broker that withholds in Romania. Otherwise 16% of the net annual gain, declared in the single tax return.
Which investments are not taxed?
Income from government securities such as Tezaur and Fidelis is not taxable.
What salary deduction can I claim for shares, bonds and ETFs?
From March 2026 salary income, at the employer for your declared main job (funcția de bază), you can deduct up to the RON equivalent of €400 a year from the taxable base for shares, bonds and ETF units paid for and settled from 1 March 2026. The deduction applies in the settlement month, with documents from eligible entities under Article 96¹(1); transaction costs are excluded. Not every broker qualifies. This cap is separate from Pillar III. At a 10% tax rate, using the full cap may save up to the equivalent of €40 if sufficient taxable base is available. The purchase deduction does not change tax on gains when selling. OUG 8/2026, Article 6 point 34 and Article 10(11), checked 18 October 2026.
Related terms
Sources
- BNR inflation target: 2.5% ± 1 percentage point · www.bnr.ro
- Law 141/2025 (dividends) · static.anaf.ro
- Law 239/2025 (capital gains) · static.anaf.ro
- OUG 8/2026, salary-base deduction for investment purchases · legislatie.just.ro
The original rules were checked on 27 September 2026; the investment-purchase deduction was checked on 18 October, and the non-bank loan cap on 19 October 2026. Check the law before making a decision.
This page explains mechanisms and shows what happened in the past. It does not recommend products, say what to buy, or take your situation into account.