Taxes to be suspended on BVB in 2009

The decision was made following discussions with Bucharest Stock Exchange (BVB) representatives concerning ways in which to encourage investments on the Romanian stock exchange. "As there are only a few thousand investors on the market, the budgetary effort will not be major," said Vosganian. The state currently taxes stock exchange income at 16 and 1 percent respectively for short (less than 12 months) and long-term investments (over 12 months).