Regulation of taxation on virtual currency gains in Romania

Legal Category and Tax Obligations

Income earned from cryptocurrency transactions is classified in Romania as other sources of income, according to Article 114 of the Romanian Fiscal Code. This means that any profit obtained from activities related to virtual currencies is subject to reporting and paying crypto tax just like other types of income.

Tax Rate and Profit Calculation

The crypto tax rate applied in Romania is 10%, calculated on the positive difference between the sale price and the purchase price, including direct costs. In practice, if you make a profitable transaction, the tax contribution will be equal to 10% of the net gain.

There is an important de minimis rule: gains under 200 RON per individual transaction are exempt from taxation, provided that the total profits for the entire calendar year do not exceed 600 RON.

Types of Operations That Generate Tax Obligations

The following categories of transactions are subject to crypto taxation in Romania:

• Exchanges on the crypto market (for example, converting ETH to BTC)
• Selling virtual currencies for fiat currency (conversions into RON, EUR, USD, or other currencies)
• Payments made with cryptocurrencies for the purchase of goods or services
• Receiving cryptocurrencies as income from activities such as staking, mining, interest, rewards, or service provision

For income received from the activities mentioned (staking, mining, interest, other rewards), the date of receipt is considered the taxable event, at the market value expressed in RON. Selling or exchanging these assets later may generate additional profits or losses.

Non-taxable Operations

The following situations are not subject to crypto tax:

• Initial purchase of virtual currencies with fiat funds
• Transfers between personal wallets or accounts held on different platforms
• Possession of cryptocurrencies (unrealized gains are not taxable at the moment of occurrence)

Possible Legislative Developments Regarding Temporary Exemptions

Currently, the legislative agenda in Romania includes a proposal to introduce a temporary tax exemption on income from virtual currencies, applicable to certain transactions made in 2025. This initiative is in the evaluation phase and awaiting official approval.

Procedure for Declaring Cryptocurrency Income

Individuals who have earned gains from crypto tax are required to report them to the tax authorities by submitting the Single Declaration (Form 212). The deadline for submission is May 25 of the year following the year in which the income was earned.

Declaration and Completion Locations

The single declaration is completed through the ANAF online platform, in the section dedicated to “Single Declaration regarding income tax and social contributions owed by individuals”.

Depending on the source, income is included in:

• For income from Romania: Chapter I → Section I.1 → Subsection I.1.1 → “Other sources”
• For income from abroad (for example, from international platforms): Chapter I → Section I.2 → Subsection I.2.1 → “Other income”

In both cases, the total gain is recorded, i.e., the positive difference according to the methodology of the Romanian Fiscal Code.

Conversion to National Currency and Exchange Rate

All amounts declared to ANAF must be expressed in lei (RON). If transactions were conducted in other currencies or directly in cryptocurrencies, conversion is made at the official exchange rate of the National Bank of Romania (BNR) valid at the time of each operation.

Social Contributions Due

• SOCIAL SECURITY CONTRIBUTION (Contribuția de Asigurări Sociale) is not owed for income derived from crypto tax.
• HEALTH INSURANCE CONTRIBUTION (CASS) is mandatory only if the total income from virtual currencies, combined with other non-salaried income if any, reaches at least 6 times the gross minimum wage for the respective fiscal year. Below this limit, CASS is not paid.

Transaction Record Management for Tax Purposes

To ensure correct and compliant reporting of obligations, it is essential to maintain a complete and systematic record of all transactions performed. This includes date, purchase price, sale price, and the RON value of each transaction.

Many platforms allow downloading a export report of the complete history, containing all necessary details. This information can be used for:

• Manual calculation of profits and losses
• Consultation with a tax specialist to ensure compliance with legislation
• Accurate completion of the Single Declaration for ANAF

Proper management of documentation facilitates both the declaration process and any subsequent audits by authorities, contributing to a transparent and law-compliant fiscal situation.