Find general guidance about taxes and requesting tax statement when using Wise Interest.
When you turn on Interest, you’re investing in units in an accumulating money market fund. You can see more information about the funds here.
If you're a tax resident in Romania, you may need to pay income tax on your Wise fund income.
Income tax can become due when you dispose of units in the fund and you realise a gain — through spending, sending, converting or simply moving money within Wise or to an external account. This will trigger Wise to sell units in the fund, known as disposing.
There may also be a health insurance contribution due on fund income and gains.
Filing a tax return
Romanian tax residents may need to report their income and gains from the fund in their annual tax returns.
You can find more information at www.anaf.ro.
If you're a sole trader using Wise interest passively, the guidance may also apply to you.