A 20 per cent VAT next year, a 19 per cent one as from January 2017 and the scrapping of extra-excise duties on fuels! These are the main provisions in the new draft Fiscal Code passed by the Senate yesterday. The Code was adopted with 131 pros, 4 cons and one abstention.
The tax on special constructions will also be removed, health insurance contributions will be capped and the tax on dividends will drop to 5 per cent.
If the Deputies also pass it this week , the Fiscal Code could be promulgated by President Klaus Iohannis as early as Sunday.