Romania’s new Parliament was summoned for an extraordinary meeting this Thursday to bring a series of amendments to the Fiscal Code.

The Parliament will vote a draft law removing the income tax and the health contributions for the pensions that are below RON 2,000 (EUR 443), said Liviu Dragnea, the leader of the Social Democratic Party (PSD) and the president of the Chamber of Deputies, reports local Profit.ro.

According to official sources, the new Government will also amend some of the fiscal measures that entered into force on January 1 this year. It may remove the requirement to pay the health contributions of 5.5% for the people making an additional income from intellectual property rights, investments (such as dividends or interest), as well as from other sources. This measure has been introduced on January 1, and was provided by the new Fiscal Code that entered into force on January 1, last year.

The new Government will also cancel the maximum ceiling used for calculating the health contributions, which was introduced at the beginning of this year. The contribution to the public healthcare system has been capped to five gross average salaries starting January 1, 2017, based on the Fiscal Code.

In one of the its first meetings, the new Government will also approve the increase in the minimum wage from RON 1,250 to RON 1,450.

editor@romania-insider.com