“The impact on the market will be minor. There are other important issues, such as the United States bailout plan. Fiscal facilities will not resolve the crisis, but it is a good thing that the state authorities are considering the stock exchange, especially since until recently the Ministry of Finance was not at all involved in the development of the market,” said Razvan Pasol, President of the Intercapital Invest brokerage company.
The Ministry of Finance and the National Securities Commission (CNVM) yesterday announced solutions they identified to support the capital market. These target primarily the suspension in 2009 of taxes on stock exchange transaction profits and the possibility of carrying over losses from one fiscal year to another.
CNVM also decided to forego the 0.08% quota applied to the value of stock exchange transactions to the end of the year, and the commission charged on the value of initial public offers (IPO), in order to encourage new listings.
Among measures being considered by the Ministry of Finance for the development of the market is a listing of Nuclearelectrica in the first half of next year, and a supplementing of Transelectrica and Transgaz share packages, according to Ministry representatives.
