The Ministry of Finance and the Ministry of Taxation, together with the National Centre of Legislation and Legal Research, released a Bill to amend the Tax Code. The main proposals are summarized below: -   the profit tax rate will be lowered from 18% to 15%; -   VAT rate will be increased from 20% to 22% with effect from 1 January 2014; and The Bill is expected to be submitted to the House of Representatives of the National Assembly by October 2013.