The VAT will hike starting July 1, the emergency ordinance to change the Fiscal Code was published

The government decided to raise the VAT after a meeting on Saturday.

The emergency ordinance also foresees taxing food and gift tickets, compensatory payments and interests from deposits and current accounts.

According to the new regulations, a 25 percent tax will be applied for gambling gains starting July 1.

The stipulations imposing additional taxes for those owning several houses were removed from the emergency ordinance. Those having two or more dwellings that were not rented should have paid a solidarity tax of 50 percent from the tax paid in 2010 for the first house owned, of 100 percent from the tax paid this year for the second house and of 200 percent for the third one.