Romanian President Klaus Iohannis decided on Friday not to approve a new fiscal code that the government has been pushing hard and decided to sent it back for review in the Parliament. The president warned that the measures included in the new code,among which a series of tax cuts which were lauded by the commerce community, would believe major effects on budget building for the upcoming years. The decision prompted harsh reactions from the prime minister, or his finance minister and the governing Social Democratic Party (PSD),with promises that the value added tax would be pushed through an emergency ordinance this year any way.
Source: hotnews.ro