Political pact on the VAT cut! The parliamentary parties have agreed this country needs a lower, 20 per cent VAT, starting next year and a 19 per cent VAT as of January the 1st 2017. This was the outcome of the negotiations held at the Parliament Palace. Victor Ponta did NOT attend the meeting and the Government was represented only by Finance Minister Eugen Teodorovici. An agreement was signed in the end, but not by the Social Democrats and their Liberal-Democrat partners.