December 19, 2018 / 8:31 AM / 9 months ago

Romanian bluechip index hits six-month low on government tax plans

BUCHAREST, Dec 19 (Reuters) - Romania’s blue chip index fell to its lowest level in more than six months on Wednesday after the Social Democrat government announced new tax plans for banks and energy companies, as well as made private pension funds optional.

The government said late on Tuesday it would introduce a tax on banking assets from 2019, cap gas prices and enforce a new turnover tax for energy firms. It would also enable Romanians to withdraw out of mandatory private pension funds after contributing for five years.

By 0825 GMT, Bucharest’s blue chip was down 7.5 percent on the day. Private pension funds account for roughly a fifth of bourse liquidity. Banca Transilvania and BRD shares were down 13.6 and 11.7 percent, respectively. (Reporting by Luiza Ilie)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below