Romanian President Klaus Iohannis signs changes to Fiscal Code

          Romanian President Klaus Iohannis signed into law changes to the country’s Fiscal Code on Wednesday. The law includes changes allowing a VAT cut from 24 to 19 percent starting from January 1, 2016. Romania defied EU and IMF warnings by pushing through tax cuts aimed at shoring up its economy. The changes also include the drop of an additional tax on fuel and „special” buildings. And more, buildings are to be charged according to their destination – residential, non-residential or mixed, and their owner – legal or natural person.