Authorities take steps to revive Stock Exchange

The financial authorities and the institution that regulates the capital market have joined forces for the first time in order to take measures they regard as “extraordinary”, meant to revive the interest of investors in the Stock Exchange, which has been strongly affected by the international financial crisis over the past year. The steps are in line with those taken internationally by major institutions, as well as by players on other stock exchanges, which have suffered significant corrections this year, such as the Shanghai stock exchange, which have responded duly, by granting incentives to investors operating on the capital market. Thus, the Ministry of Economy and Finance has decided to suspend the tax on earnings obtained on the Stock Exchange next year, irrespective of the duration of the investment. Additionally, investors seeing losses in a year, 2008 included, will be able to carry over these losses from one year to the next, with the sums to be deducted from the taxed earnings.