Tax obligations

General tax considerations

  • For individuals, the tax rate on proceeds from the transfer of fund shares is 16%, regardless of the investment period (according to the provisions of the Fiscal Code as of 01.07.2010).
  • The annual net gain/loss resulting from the redemption of fund shares and the corresponding tax payable p.a. are determined only based on the ANNUAL statement submitted by taxpayers (as of 01.01.2013).

Portfolio statements

Portfolio statements are provided to investors in paper form, by means of registered letter delivered to the investor’s correspondence address* (if any) or home address, together with an explanation of the subsequent actions investors need to take.

*The correspondence address can be found in the investment form or may be added/changed later through an amendment form. Erste AM cannot be held responsible for amendments not notified by investors.


Portfolio statements show the corresponding Gain/Loss in the reporting period.

Gains/Losses are determined as

- the difference between (i) the redemption price and (ii) the purchase/subscription price, regardless of the investment period.

(i) The redemption price is the price owed to the investor upon (full or partial) withdrawal from the fund.

(ii) The purchase/subscription price is the price paid to purchase fund shares

Form 200

Form 200 is an annual statement individuals must submit by 25 May each year to the local tax authority (within the area where the investor’s home address is located).

Form 200 is available at the venues of the tax authority or may be downloaded together with the instructions below.

If you have redeemed fund shares and not yet received your portfolio statement, please make an inquiry at the following e-mail address:

Taxation history

1. Between 01.01.2009 and 31.12.2009: gains from the transfer of fund shares, outside the scope of taxation.

2. Between 01.01.2010 and 30.06.2010:

  • for investment periods less than 1 year, the tax rate was 16%, of which 1% withheld by the management company;
  • for investment periods over 1 year, the tax rate was 1% withheld by the management company.

Contact us

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This is an advertising material. Previous performance of the Fund is not a guarantee of future results! Please read the prospectus and the key investor document (KIID) before investing in fund! The Prospectus and the key investor document (KID) are available in Romanian and English language on and may be obtained from the agencies/units pertaining to the Romanian Commercial Bank and from the premises of SAI Erste Asset Management S.A.