Prime Minister Victor Ponta said on Monday, March 9, that the Govt. will complete the new Fiscal Code draft project around March 18-20.

He called it Romania’s most important public policy document in 2015 and said that it should be adopted at least six months before it is due to enter into force, namely before January 1, 2016, reports local Mediafax.

Ponta recently said the Government considers taking responsibility for the new Fiscal Code if the Parliament blocks it and does not adopt it by the end of this parliamentary session.

The Govt. announced it would lower the VAT from 24% to 20% by January 1, 2016, as well as cut other taxes in the following years. It later said that it wishes to implement the measures by November this year.

editor@romania-insider.com