5.5% social health insurance contribution, as required by law

ANNOUNCEMENTS

30 December 2016

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5.5% social health insurance contribution, as required by law

Starting January 1, 2017, under the law, the 5.5% individual CASS (health insurance) contribution will apply to all clients earning income — subject to certain clarifications and exceptions under the law — from the following investment categories:

Interest on bank deposits
Securities transfers
Dividends
Liquidation of a legal entity
Transfers of financial gold

For clients of the Banca Transilvania Financial Group, this legislative change applies to those who hold investments with Banca Transilvania, BT Capital Partners, and the investment funds managed by BT Asset Management.

As applicable, Banca Transilvania, BT Capital Partners, and BT Asset Management SAI do not withhold this contribution at source; instead, the client must declare and pay the amount corresponding to 5.5% of the income, on the basis of a decision issued by ANAF.