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VAT stays at 24 pcUpdated: Today, 24-08-2010 | Economy

The Senate gathered on Tuesday in extraordinary session, approved the Government's Emergency Ordinance 58/ 2010, by which the VAT is maintained at 24 per cent. The Senate passed the Bill with 64 votes "in favour" and 50 votes "against".

Earlier on Tuesday, the government's ordinances aimed at raising VAT and respectively, at modifying the local public finance law, were debated in the Budget-Finance Committee. The members of the Committee opposed the increase of the VAT from 19 to 24 per cent. The minister of Finance, Sebastian Vladescu, present in the debate, refused to make any comments.

Six Senators, from the National Liberal Party (PNL) and the Social Democratic Party (PSD), voted in favour of maintaining the VAT at 19 per cent, while only four MPs supported the Government's proposal. Vladescu, stated, in the end, that he opposed the amendments approved in the Senate's Budget-Finance Committee, including the decision to revert the VAT at 19 per cent, and shrugged his shoulders, refusing to make further comments.

Nine O'Clock

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