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Annex No. 1 |
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FEES AND TAXES OWED BY THE CLIENT |
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| 1. MINIMUM AMOUNT |
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In order to open a Client account in the BT TRADE system, the minimum amount to be deposited is 1,500 RON. This amount belongs to the Client and may be used for the acquisition of securities. . |
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| 2. TRANSACTION FEE |
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The fee is applies individually for each acquisition or sale transaction, in real time.
The fee rate applied by BT SECURITIES for transactions is established as follows: |
| 1. Depending on the initially invested amount (deposited and circulated) the following fee table is used: |
| Initially invested amount / Cumulated turnover [RON] |
Commission [%] |
| <50.000 |
1,8% |
| 50.000 - 100.000 |
0.7% |
| 100.000 - 500.000 |
0,6% |
| >500.000 |
0,5% |
| >1.000.000 |
0,4% | |
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2. At the end of each calendar month, on basis on the cumulated turnover for the last 3 months/the cumulated turnover for the previous period for the first three months, you will be placed to a certain commission level in the above table, which will be applied from the first day of the next month. |
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| FACILITY offered by BT Securities |
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- Once you reach a certain level, the COMMISSION applied by BT Securities for the transactions carried out by the Client, will NOT be modified IN THE ASCENDING DIRECTION. |
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Commission computation EXAMPLE : |
| Date |
Monthly turnover
[RON] |
Commission computation basis - amount
[RON] |
Commission as per list |
CHARGED Commission* |
Commission charge period |
COMMENTS |
| 25.05.2006 |
- |
Initial amount invested on 25.05.2006 =3.000 |
1,2% |
1,2% |
25.05.2006-
31.05.2006 |
For the first 3 months, cumulated account movements are calculated for the PREVIOUS PERIOD |
| 31.05.2006 |
Account movements May = 46.000 |
Cumulated turnover between 25.05-31.05 =46.000 |
1% |
1% |
01.06.2006-30.06.2006 |
| 30.06.2006 |
Account movements June = 44.000 |
Cumulated turnover between 25.05-30.06 =90.000 |
0,8% |
0,8% |
01.07.2006-31.07.2006 |
| 31.07.2006 |
Account movements July = 15.000 |
Cumulated turnover between 25.05-31.07 =105.000 |
0,7% |
0,7% |
01.08.2006-31.08.2006 |
| 31.08.2006 |
Turnover August = 21.000 |
Cumulated turnover between 01.06-31.08 (3 months) =80.000 |
1% |
0,8% |
01.09.2006-30.09.2006 |
For the next period Cumulated turnover will be calculated for the LAST 3 MONTHS |
| 30.09.2006 |
Turnover September = 10.000 |
Cumulated turnover between 01.07-30.09 (3 months) =46.000 |
1,2% |
0,8% |
01.10.2006-31.10.2006 | |
| Date |
Monthly turnover
[RON] |
Commission computation basis - amount
[RON] |
Commission as per list |
CHARGED Commission* |
Commission charge period |
COMMENTS |
| 25.05.2006 |
- |
Initial amount invested on 25.05.2006 =5.000 |
1,2% |
1,2% |
25.05.2006-
31.05.2006 |
For the first 3 months, cumulated account movements are calculated for the PREVIOUS PERIOD |
| 31.05.2006 |
Turnover May = 50.500 |
Cumulated turnover between 25.05-31.05 =50.500 |
1% |
1% |
01.06.2006-30.06.2006 |
| 30.06.2006 |
Turnover June = 100.000 |
Cumulated turnover between 25.05-30.06 =150.500 |
0,8% |
0,8% |
01.07.2006-31.07.2006 |
| 31.07.2006 |
Turnover July = 500.000 |
Cumulated turnover between 25.05-31.07 =650.500 |
0,7% |
0,7% |
01.08.2006-31.08.2006 | |
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FACILITY offered by BT Securities for the Clients of BT TRADE in the period
January 2nd 2012 - March 31st 2012 |
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| - For those who become clients until March 31st 2012 we will NOT apply the monthly subscription fee for the whole duration of the contract. |
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| 3. MONTHLY SUBSCRIPTION FEE |
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| The monthly subscription fee is 20 RON. |
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| 4. SHARE TRANSFER FEES |
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| For the share transfers TO/FROM the client's account the following fees are applied: |
| BVB share transfer |
Transfer fee [RON] |
| From the Central Depository into the Client's account |
0 RON/transfer |
| From the client's account to the Central Depository |
1,5 RON/transfer | |
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| 5. MONEY TRANSFER FEES |
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When withdrawing money FROM the Client's account, these transfers can be made via bank transfer into the account specified by the Client or through postal order with return receipt. The postal fees shall be borne by the Client.
When depositing money IN the Client's account, they can be made as follows: |
| CASH |
| Money deposits in the Client's account |
Maximum deposit limit / day [RON] |
| Cahier's desk, at the HQ of BT SECURITIES, in the following conditions: |
| Legal persons – maximum deposit limit per day |
5.000 RON |
| Natural persons – maximum deposit limit per day |
nelimitat |
| THERE ARE NO FEES APPLIED for the cash deposits through the cashier's desk of BT SECURITIES | |
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| BANK TRANSFER |
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| If the Client holds an account opened with a bank, the money transfers will be made between the Client's account and the account of BT SECURITIES or if the client will deposits through cashier's desk of Banca Transilvania: IBAN: RO96 BTRL 0130 1202 9256 90XX opened with BANCA TRANSILVANIA, CLUJ Branch |
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| 6. OTHER FEES |
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| Other fees to be borne by the Client for the services provided by BT SECURITIES: |
| Services provided |
Fees [RON] |
| Opening an account |
free |
Acknowledgement, report and account statement submission,
on monthly basis, if the Client requests it, via post |
10 RON/month | | |
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| 7. GENERAL FEES AND TAXES |
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| Fees/Taxes |
Value [%] |
| CNVM fee |
0,08% applied to the value of the acquisition transactions (BT SECURITIES, as broker, collects this fee from each buyer for each acquisition, and transfers it into the CNVM account), and is included in the trading fee defined under CLAUSE 2 |
| Income tax |
The tax on the profit resulted from the transfer of the securities is calculated in accordance with the provisions of the Fiscal Code – Law No. 571/2003, with the subsequent changes and additions, as follows:
Romanian natural persons or residents: :
• 1% - afor the transfer of securities obtained on and sold on or after 1 January 2007, within a period longer than 365 days; the obligation to calculate, withhold and pay is applicable to BT SECURITIES SA;
The client shall draw up a special statement for the adjustment of the owed tax, corresponding to the transactions carried out during the fiscal year, based on the portfolio statement obtained from the broker. Adjustment on the owned tax represents the difference between the tax owed for the closed fiscal year and the tax swerved for that fiscal year.
Starting with the 1st of January 2007, the tax owed will be established regarding the profit/loss obtained from the transfer of securities:
• 1% - for the sale of securities existing in the portfolio at 31 May 2005; the obligation to calculate, withhold and pay is applicable to BT SECURITIES SA, while the client shall draw up a special statement for the adjustment of the owed tax, corresponding to the transactions carried out during the fiscal year;
• 16% - for the securities purchased on and after 1 January 2007, within a period shorter than 365 days, calculated for the net profit resulted from the transfer of securities, determined at the end of the fiscal year for the entire portfolio of such securities traded during the same year, as the positive difference between the profits and losses recorded during the year. In this case, the obligation to report and pay the tax is applicable to the clients.
The profits obtained from the transfer of securities by Romanian legal persons are part of their taxable revenues, and is calculated in accordance with the provisions of the Fiscal Code – Law No. 571/2003, with the subsequent changes and additions. The tax shall be paid by the legal person, without any withholding applied by BT SECURITIES SA.
Taxation of the profits obtained on the capital market by non-resident persons shall be made in accordance with the provisions of the Romanian Fiscal Code – Law No. 571/2003, with the subsequent changes and additions, and the Treaty for Preventing Double Taxation in the non-resident person’s country of origin. According to the application procedure of the law on tax income, for any transfer of shares into the Client's account opened with BT SECURITIES SA, the client shall produce the title deeds (Portfolio extract – pursuant to the Instruction no. 7/2006 issued by CNVM) that certify the date of the purchase and the average cost of the shares. | |
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| 8. NOTES |
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If at the end of a calendar month the cash balance available in the Client's BT TRADE account is less than the fees owed to BT SECURITIES SA, the difference, considered as the Client's debt, shall be covered by depositing into the account the required amount or by selling securities from the portfolio, at the Client's order, until the end of the next calendar month. If this debt will not be covered, access to the Client's account will be restricted until the settlement of the debt. |
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BT SECURITIES SA reserves the rights to change the taxes and fees include in this Annex, after the due notification of the Clients.
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Updated on: July 1st, 2011
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