Gains derived from cryptocurrency transactions are generally treated as income from other sources, namely income from transfers of virtual currency. Romanian tax residents must report these gains in order to determine and pay income tax and, where applicable, the health insurance contribution (CASS).
In the past, these transactions were relatively difficult for ANAF to track. Tax compliance relied mainly on voluntary reporting by taxpayers.
This is changing. Recent tax legislation implementing the DAC8 framework is designed to facilitate reporting and information exchange between tax authorities in relation to crypto-asset transactions.
Crypto-asset service providers registered or authorised in Romania must report information to ANAF. This may include client data, crypto-assets held by clients and details of transactions carried out for, or on behalf of, those clients.
As a result, from 2026, ANAF will have access to information concerning transactions performed by taxpayers who use crypto-asset service providers authorised or registered in Romania.
Foreign tax authorities may also provide ANAF with information concerning Romanian tax residents who use crypto-asset service providers registered in other jurisdictions. The reporting scope may cover the previous five fiscal years.
Below are practical steps for reviewing your tax compliance position.
1. Review Crypto Transactions for 2020–2025
Individuals should review crypto transactions carried out during the 2020–2025 tax period.
The tax status of limitation period for 2020 expires on 1 July 2026. However, income from virtual currency transfers for that year should still be reviewed and, where applicable, reported under the tax rules in force at the time.
Keep relevant supporting documents, including exchange statements, wallet histories, transaction confirmations and bank records.
2. Identify Taxable Crypto Transactions
As a general rule, a gain or loss may arise where cryptocurrency leaves the taxpayer’s assets in exchange for another asset.
Relevant transactions may include:
- exchanging one cryptocurrency for another, such as Bitcoin for Ethereum;
- converting cryptocurrency into stablecoins, such as USDT or USDC;
- converting cryptocurrency into fiat currency, such as USD or EUR;
- converting fiat currency or stablecoins into cryptocurrency;
- using cryptocurrency or stablecoins to purchase goods or services;
- receiving crypto-assets as staking rewards.
A gain or loss is calculated for each transaction, and not annually.
The calculation is based on the positive difference between the value of the crypto-asset when it leaves the taxpayer’s portfolio, such as the sale price, and its acquisition value. In principle, the relevant amounts should be determined by reference to a fiat currency value, such as EUR or USD, and then converted into RON for reporting purposes.
Small Gains Exemption
Gains below RON 200 per transaction are not taxable, provided that total gains during the fiscal year do not exceed RON 600.
Therefore, an overall annual loss does not necessarily remove the reporting obligation. Individual profitable transactions may still need to be declared if the relevant legal thresholds are exceeded.
Staking Rewards: A Conservative Reporting Approach
Staking requires particular attention. Romanian tax legislation does not specifically define staking, and there is no uniform court practice on its tax treatment.
Staking generally involves locking crypto-assets in order to contribute to the validation and security of transactions on a Proof of Stake blockchain. In return, the participant may receive an uncertain amount of crypto-assets as a reward.
A cautious approach would be to:
- determine the value of the staking reward when the crypto-asset enters the taxpayer’s wallet, with an acquisition value of zero; and
- report the gain in the fiscal year in which the reward is received, where the legal thresholds are exceeded.
This approach means that staking rewards need to be reported even if the taxpayer has not sold or otherwise used the received crypto-assets.
Choose and Apply a Consistent Stock Management Method
Taxpayers should also select a consistent method for tracking crypto-asset holdings.
Common stock management methods include:
- FIFO (First In, First Out) – the oldest assets are treated as sold first;
- LIFO (Last In, First Out) – the most recently acquired assets are treated as sold first;
- HIFO (Highest In, First Out) – the highest-value assets are treated as sold first.
FIFO is commonly recommended by major foreign tax authorities. However, no specific method is mandatory. The important point is to apply the chosen method consistently.
3. File or Correct the Single Tax Return
Taxable gains from cryptocurrency transactions should be reported without delay, even where the filing deadline for the relevant year has already passed.
Taxpayers must use Form 212 – the Single Tax Return applicable to the fiscal year in which the crypto income was earned. The return may be submitted online through the Private Virtual Space (SPV) or in person with ANAF.
Where a return has already been filed for the relevant year, the taxpayer should submit an amended Single Tax Return. The amended return should retain the correct information and correct or supplement the inaccurate or missing data.
After a correctly completed return is filed, the tax liabilities should be updated within a few days. Payment may be made online through SPV, by card via Ghiseul.ro, by bank transfer or at an ANAF tax office.