The fiscal code will not be changed this year, its provisions remaining in force through 2009 as well, Economy Minister Varujan Vosganian announced on Tuesday. "It is the first time during the past years when we decide not to change the Fiscal Code in any way. It is a clear sign that we reached a certain harmony in the legislation", Vosganian said.
Vosganian added that the taxes were reduced constantly since 2004, while the income collected for the state budget increased 4-5% of the GNP.
The Fiscal Code was modified every year, starting in 2004, the year it came into force. New taxes were added or old taxes were adjusted to balance the budget income. In 2006 and 2007, the Government used emergency ordinances to modify the Fiscal Code, despite the fact that one article in the Code says that all modifications must be made at least 6 months before being applied in fact.
