General information - types of securities, deadlines, other market specifics - Romania
Types of securities eligible in Clearstream Banking
The eligible securities issued in Romania are as follows:
- Corporate bonds
- Government and municipal bonds
- Ordinary shares
Types of beneficial owner
Residents of Double Taxation Treaty (DTT) countries are recognised for tax purposes in Romania.
Relief at source is available if the beneficial owner is entitled to a reduced rate of withholding tax lower than the default tax rate in accordance with the DTT between its country of residence and Romania. The maximum rate of withholding tax is defined in the relevant DTT.
Other types of beneficial owners may obtain favourable rates prescribed by the domestic law. Clearstream Banking does not provide assistance in this regard. Please consult a tax advisor for further information.
Registration with the Romanian Tax Authorities (RTA)
In Romania, Commercial Banks are not authorised by the National Bank of Romania to offer tax representative services.
- For government and corporate bonds, it is recommended that the final beneficial owners register with the RTA even if the legislation is not clear on such a requirement.
- For equities, the final beneficial owners must register with the RTA to obtain a Romanian TIN.
Note: Investors are strongly encouraged to appoint a tax agent in Romania.
Deadlines for obtaining relief or reclaiming withholding tax
Relief at source
The deadline to apply for relief at source is at the latest on the record date -1 business day of the income payment. This deadline may differ depending on the paying agent. Always refer to the tax notification for an accurate deadline.
Quick refund and Standard refund
Refund is not available through Clearstream Banking.
The final beneficial owner may apply on a yearly basis for a standard refund directly with the RTA (or via its tax agent with the RTA). Please consult a tax advisor for further information.