← Tax Optimization · Individuals
The 400 € deduction for stock market investments — how it applies
From 1 March 2026, part of the money invested on the stock exchange reduces your income tax. The cap is small, but many investors don't know it exists or apply it incorrectly.
What the law says
Amounts paid to acquire shares, bonds, fund units (ETFs), or Fidelis state bonds, bought on regulated markets, are deducted from the income tax calculation base — up to a cap of 400 EUR a year. The cap is cumulative across all eligible instruments in a year, not separate per purchase or per instrument.
Brokerage fees do not count toward the cap — only the amount actually used to buy the eligible instruments.
OUG 8/2026, applicable to investments settled starting 1 March 2026.
How it applies, in numbers
Illustrative example: if you invest 400 EUR in a year in shares listed on a regulated market, the deduction reduces your taxable base by 400 EUR — at the 10% income tax rate, the saving is about 40 EUR a year. If you invest only 150 EUR, the saving is about 15 EUR. Beyond the 400 EUR cap, the rest of the invested amount brings no further deduction.
Common mistakes
The most common confusion is thinking the 400-euro cap applies separately to each type of instrument (shares, ETFs, Fidelis) — it's actually a single cap, cumulative for the year. The second mistake is including brokerage fees in the calculation of the invested amount — they stay outside the cap and aren't deducted.
