RRI Live!

Listen to Radio Romania International Live

Special Parliament Session over Fiscal Code

The Fiscal Code bill will be reviewed in a special Parliament session in late August.

Special Parliament Session over Fiscal Code
Special Parliament Session over Fiscal Code

, 28.07.2015, 12:36

The Parliament
of Romania is to convene in a special session between August the 24th
and 26th, to re-analyse the Fiscal Code bill, as requested by
President Klaus Iohannis. On July the 17th, the head of state
dismissed the bill and sent it back to Parliament for further analysis, on
grounds that its enforcement may give rise to severe economic imbalances.

Liviu
Dragnea, the interim president of the Social Democratic Party, the main party
in the ruling coalition, said that, although so far there are no reasons to
make alterations to the bill, he is still concerned with the statements made
recently by the governor of the National Bank of Romania, Mugur Isarescu. This
is why, Dragnea explained, until the special Parliament session the Finance
Ministry will analyse once again the impact that the tax cuts will have on the
state budget. According to Dragnea, this analysis should convince both the
Presidency and the central bank that the fiscal relaxation measures are
sustainable.


Liviu Dragnea: The Finance Ministry will carry out a new analysis and will also make a
forecast for the coming two or three years, which will perhaps prove a lot
clearer the sustainability and suitability of the measures laid down in the
draft Fiscal Code, which is actually very well received both by the general
public and by the business community.


The Liberal
Opposition however wants a technical evaluation of the draft Code, before the
new vote in Parliament. The co-president of the Liberal Party Alina Gorghiu
says the Liberals will endorse the Code in a form that would support the fiscal
relaxation measures. Alina Gorghiu:


The Liberal Party has never considered voting against this Fiscal Code. The
review that we propose includes an analysis of the technical elements. And if,
by the end of August, we reach the desired conclusions and the figures are in
favour of the fiscal relaxation measures, then we will obviously endorse the
text, irrespective of the amendments that may be made.


One of the most
controversial measures is the slashing of the VAT from 24 to 19% as of next
year. Mugur Isarescu has warned that, because of the impact they would have on
the Gross Domestic Product, the main fiscal relaxation measures, such as the
reduction of the VAT and the social security contributions planned for next
year or the scrapping of other taxes that bring substantial revenues to the
state budget, are simply inapplicable, in economic and financial terms.
According to Isarescu, if the draft Code takes effect in its current form, this
would entail a 2.3% drop in the GDP. The head of the central bank also warned
that these tax cuts should be applied gradually, so as not to jeopardise
Romania’s economic and financial progress.

Roxana Mînzatu (foto: gov.ro)
Today in the News Wednesday, 06 November 2024

Roxana Mînzatu, endorsed by the Romanian Parliament

Romanian Government’s proposal for the position of European Commissioner in the future Community Executive, the Social Democrat Roxana Mînzatu has...

Roxana Mînzatu, endorsed by the Romanian Parliament
Photo: gov.ro
Today in the News Wednesday, 06 November 2024

Japanese Investments in Energy and Technology

Important Japanese companies have expressed their interest, these days, in Bucharest, to invest in Romania, in transport infrastructure, energy,...

Japanese Investments in Energy and Technology
NATO Secretary General Mark Rutte (Source: NATO)
Today in the News Tuesday, 05 November 2024

NATO must stay united

NATO will work with the winner of the US elections, whoever that person may be and will do its best to stay united, NATO secretary general Mark Rutte...

NATO must stay united
Maia Sandu (Photo: presedinte.md)
Today in the News Monday, 04 November 2024

Moldova stays on path to Europe

Moldova’s pro-European president Maia Sandu won a new  4-year term in Sunday’s second round run-off, with over 55% of the votes cast in the...

Moldova stays on path to Europe
Today in the News Monday, 04 November 2024

Election campaigns in Romania

    The campaign for the general election in Romania started last week, at midnight on Thursday, and will end on 30 November. During this...

Election campaigns in Romania
Today in the News Friday, 01 November 2024

Radio Romania 96

Radio Romania has celebrated 96 years since it first entered the listeners houses from Romania and abroad. On November 1 1928 the Romanians were able...

Radio Romania 96
Today in the News Thursday, 31 October 2024

Romanians’ concerns

Romanians and Austrians are the most satisfied with their lives among the inhabitants of Central and Eastern Europe, but the former are significantly...

Romanians’ concerns
Today in the News Thursday, 31 October 2024

Republic of Moldova, crucial final

On November 3, the citizens of the Republic of Moldova have to choose, for the position of head of state, between the pro-European Maia Sandu, the...

Republic of Moldova, crucial final

Partners

Muzeul Național al Țăranului Român Muzeul Național al Țăranului Român
Liga Studentilor Romani din Strainatate - LSRS Liga Studentilor Romani din Strainatate - LSRS
Modernism | The Leading Romanian Art Magazine Online Modernism | The Leading Romanian Art Magazine Online
Institului European din România Institului European din România
Institutul Francez din România – Bucureşti Institutul Francez din România – Bucureşti
Muzeul Național de Artă al României Muzeul Național de Artă al României
Le petit Journal Le petit Journal
Radio Prague International Radio Prague International
Muzeul Național de Istorie a României Muzeul Național de Istorie a României
ARCUB ARCUB
Radio Canada International Radio Canada International
Muzeul Național al Satului „Dimitrie Gusti” Muzeul Național al Satului „Dimitrie Gusti”
SWI swissinfo.ch SWI swissinfo.ch
UBB Radio ONLINE UBB Radio ONLINE
Strona główna - English Section - polskieradio.pl Strona główna - English Section - polskieradio.pl
creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti
italradio italradio
Institutul Confucius Institutul Confucius
BUCPRESS - știri din Cernăuți BUCPRESS - știri din Cernăuți

Affiliates

Euranet Plus Euranet Plus
AIB | the trade association for international broadcasters AIB | the trade association for international broadcasters
Digital Radio Mondiale Digital Radio Mondiale
News and current affairs from Germany and around the world News and current affairs from Germany and around the world
Comunità radiotelevisiva italofona Comunità radiotelevisiva italofona

Providers

RADIOCOM RADIOCOM
Zeno Media - The Everything Audio Company Zeno Media - The Everything Audio Company