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President of Moldova promulgated a package of tax measures agreed with the IMF

President of Moldova promulgated a package of tax measures agreed with the IMF

According to the document, which was published in Monitorul Oficial on September 6, from 2020 in Moldova the environmental pollution charge will increase by 20%; social insurance contributions (18% from the employer and 6% from the employee) will be withheld from the food stamps provided by employers as non-monetary motivation of employees; VAT rate in HoReCa sector will be increased from 10% to 20%. The law also provides that persons with an annual income exceeding 360 thousand lei will be deprived of the right to personal exemption from income tax, which amounts to 24 thousand lei. Basic taxation will be used in calculating capital gains: 100% for legal entities and 50% for individuals. The income tax withheld from the source of payment will increase from 7% to 12%. Individuals receiving goods worth more than 200 euros from legal entities (B2C) by international mail will pay VAT, customs duties and excise taxes. At the same time, the current limits for the remaining categories and methods of importing goods will remain unchanged: the non-taxable limit for individuals importing goods will be 300 euros for land transport or 430 euros for air and sea transport. The above amendments enter into force on January 1, 2020. At the same time, the provisions excluding the taxable income of 500 thousand lei when assessing income by indirect methods have been deleted from the Tax Code - this measure will be applied starting from 2022. However, from September 6, the ban on tax audits carried out in respect of economic agents for the period until January 1, 2018, provided for in Article 16 of the Law on Voluntary Declaration and Tax Incentives, was canceled. Moreover, it is stipulated that taxable income assessed by the State Tax Service during tax audits starting January 1, 2022 does not decrease by the amount declared in accordance with Art. 226 7 of the Tax Code, no matter what period it relates to. // 06.09.2019 - InfoMarket.

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