New Fiscal Code by February 15, Romanian Govt. keeps flat tax

The new Fiscal Code and the Fiscal Procedure Code will be finalized by the Government until February 15 and will be submitted to the Parliament by March 15, to be debated and adopted, said Prime Minister Victor Ponta.He added that the 16% flat tax will not be modified in 2015 and 2016. Asked whether the new Tax Code will change the tax policy, given the opinions that labor is overtaxed, the Prime Minister answered that the Finance Minister has yet to complete the project. “The flat tax of 16% will not be changed, and not via the Fiscal Code […] First, we’ll not give up on the flat tax of 16% and no new taxes are needed. Our goal is, considering we continue the trend of improved collection to the budget, to be able to lower the VAT for food as of January 1, 2016,” said Ponta, cited by local Agerpres. editor@romania-insider.com