{"id":2410,"date":"2018-03-06T13:43:29","date_gmt":"2018-03-06T11:43:29","guid":{"rendered":"https:\/\/investors.bittnet.ro\/?p=2410"},"modified":"2020-08-25T12:59:16","modified_gmt":"2020-08-25T09:59:16","slug":"announcement-about-income-taxation-for-bond-coupons","status":"publish","type":"post","link":"https:\/\/investors.bittnet.ro\/en\/announcement-about-income-taxation-for-bond-coupons\/","title":{"rendered":"Announcement about income taxation for bond coupons"},"content":{"rendered":"

BITTNET SYSTEMS S.A. (hereinafter referred to as \u201cthe Company\u201d\/ \u201cthe Issuer\u201d) informs that the bondholders (trading ticker: BNET19 and BNET22) about the amendment of the Fiscal Code through OUG no. 79 of November 8th, 2017, regarding the determination, withholding and transfer to the State budget of the income tax (including tax income from coupons resulting from corporate bonds). Thus, starting with January 1st, 2018, the taxation is as follows:<\/p>\n

\u2022 For resident individual investors: 10% at source;<\/p>\n

\u2022 For non-resident individual investors who didn\u2019t send the tax residence certificate of a state with which Romania has signed the double taxation convention\/treaty: 16% at source;<\/p>\n

\u2022 For non-resident individual investors who have send the fiscal residence certificate, the tax will be determined, withheld and transferred in accordance with the double taxation convention signed by Romania with the bondholder\u2019s state of fiscal affiliation;<\/p>\n

\u2022 For resident and non-resident legal entities: the obligation to declare and pay the income tax is at the bondholder. For each coupon payment, the Company files a request with the Central Depository and receives a registry of bondholders at the reference date. This registry does not contain information about the bondhoder\u2019s fiscal residence. The Issuer approximates the fiscal residence for each bondholder using the information provided in the \u2018country of domicile\u2019 and \u2018CNP\u2019 fields.<\/p>\n

As such, all natural persons that have a declared domicile in Romania and have a valid CNP code are assumed to be residents of Romania. All natural persons without valid CNP or with any other country than Romania mentioned in the \u2018domicile\u2019 address are assumed to be non- residents and subject to 16% withholding tax. According with above mentions resolutions, the Company aska non-resident bondholders to send us their tax residence certificates, issued by the competent authorities of the state of residence before March 14th, 2018. This certificate can be sent to the following e-mail address: investors@bittnetsystems.ro<\/a>. Otherwise, the Company will apply the 16% withholding tax to the gross value for the quarterly coupon of the BNET19 and BNET22 bonds, according to art. 224 of Law 227\/2015 regarding the New Fiscal Code, as amended by OUG 79\/2017: https:\/\/static.anaf.ro\/static\/10\/Anaf\/legislatie\/Cod_fiscal_norme_2018.htm#T4o<\/a><\/p>\n

Raport curent english BNET19 si BNET22<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

BITTNET SYSTEMS S.A. (hereinafter referred to as \u201cthe Company\u201d\/ \u201cthe Issuer\u201d) informs that the bondholders (trading ticker: BNET19 and BNET22) about the amendment of the Fiscal Code through OUG no. 79 of November 8th, 2017, regarding the determination, withholding and transfer to the State budget of the income tax (including tax income from coupons resulting…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[389,398],"tags":[],"class_list":["post-2410","post","type-post","status-publish","format-standard","hentry","category-current-reports","category-latest-news"],"yoast_head":"\nAnnouncement about income taxation for bond coupons - Bittnet Systems<\/title>\n<meta name=\"description\" content=\"Announcement about income taxation for bond coupons - Bittnet Systems informs that the bondholders about the amendment of the Fiscal Code\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/investors.bittnet.ro\/en\/announcement-about-income-taxation-for-bond-coupons\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Announcement about income taxation for bond coupons - 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