Archive » June 2010 » 29 June 2010 The english news from 29 June 2010

  • The Opposition is preparing for a new contestation with the Court: why the new tax is unconstitutional

    Amending the Fiscal Code via an Emergency Government Ordinance for the purpose of increasing VAT is being strongly contested by the Social Democrats and the Liberals, with both parties agreeing to discuss today whether they can attack the Government's decision with the Constitutional Court. The Opposition claims that the new Fiscal Code, which will increase VAT…

  • Exchange rate reached historical maximum

    The exchange rate reported yesterday by the National Bank of Romania (BNR) rose by 4.49 ban, at RON 4.3257/ EUR, reaching, thus, the highest level since the introduction of the European single currency, against the raising of the VAT from 19 to 24 per cent and amid uncertainties surrounding the IMF agreement. The highest rate so far, of RON 4.3217/ EUR, was reported by BNR on January 22, 2009…

  • OUG on VAT raise to 24 pct, published by Official Gazette

    The Emergency Ordinance on Fiscal Code modification, which also stipulates an increased Value Added Tax from 19 percent to 24 percent, starting July 1, was published by the Official Gazette. This Emergency Ordinance provisions will be enforced starting July 1, even that the Law 571/2003 on the Fiscal Code stipulates at Art. IV, paragraph 2, that "every modification or completion brought to the present…

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