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

BRD Groupe Societe Generale SA

19/12/2018 08:18

BUCHAREST, Dec 19 (Reuters) - Romania's blue chip index
 .BETI  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.  urn:newsml:reuters.com:*:nL8N1YN59A  urn:newsml:reuters.com:*:nL8N1YO0NZ
    By 0825 GMT, Bucharest's blue chip  .BETI  was down 7.5
percent on the day. Private pension funds account for roughly a
fifth of bourse liquidity. Banca Transilvania  ROTLV.BX  and BRD
 ROBRD.BX  shares were down 13.6 and 11.7 percent, respectively.

 (Reporting by Luiza Ilie)
 ((luiza.ilie@thomsonreuters.com; +4021 527 0312; Reuters
Messaging: luiza.ilie.thomsonreuters.com@reuters.net))