The updated version of the Government Program had mostly to do with postponing, eliminating, or recalculating deadlines. The Economic Code is to come into effect six months after being adopted in Parliament, with the previous deadline of July 1st 2018 being eliminated. While VAT is to drop to 18% (Jan 1st 2019), VAT for agricultural inputs and residential transactions is to drop to 5%. The Sovereign Fund is still on the table (see the calendar on the left), while the updated version presents a new way of raising minimum wages: +RON 100/year until 2020. The deadline for the establishment of the Development and Investment Bank has been eliminated. The Tax on Global Revenue is on the table, however without a deadline. With regards to VAT ceilings, the Program reads: “We will raise the ceiling for VAT payments from RON 220,000 to RON 300,000” (page 29).
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