The request for reviewing the new Fiscal code, sent by the President of Parliament on July 17th, will be debated and voted on 24th-25th of August.
The new Fiscal code was voted by the Chamber of Deputies on June 28 th and sent to the President for promulgation on July 1 st. According to the Constitution, the President had 20 days to promulgate it or to send a request in order to review it. The President decided to request the reviewing on July 17 th. After receiving the request, the Chamber of Deputies will have to debate and vote it within 30 days.
Recently, the representatives of the government party announced that the debate inside the Parliament will take place on 24 th and 25 th August. After the legislative’s vote, the president will be obliged to promulgate the law, no longer having the possibility to send it again to review.
After resending the law in the Parliament, many more economists including the BNR governor Mugur Isarescu, showed their reticence regarding the next year’s planned fiscal relaxation. The governor said that the package of measures to reduce taxes „is inapplicable economically speaking and its budgetary impact would mean a major policy change.”
Subsequently, his spokesman said: „Mugur Isarescu said that this Fiscal Code is very good. His statements are related to the implementation of a set of six measures of fiscal relaxation, VAT is only one of them, the most important. There are six tax relaxation measures on a different weighting. What the governor wants to say is to take a look at these six measures once again, to dose them, considering the realities of the moment and the future long-term perspective regarding the financial sustainability of this country „. Both, the IMF and the European Commission asked for caution and believe that reducing taxes would unbalance the budget.
In his turn, the prime minister Victor Ponta said that „It’s very good that the Fiscal Code is being discusses now after it was approved, the ideal would have been to discuss it or those who had negative opinions to tell them before its approval. Many times we discussed with the governor (before the Fiscal Code to be adopted), no one said that he disagrees with the code, everyone agreed, after that they changed their mind. „
The final decision regarding the new Fiscal Code will be taken at the end of August, in an extraordinary session of the Parliament.
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