Moldova to change the terms of real estate tax payment and abolish the 15% discount provided in case of full early payment of tax
According to the government action plan for 2019-2020, the relevant amendments to the legislation are scheduled to take effect by the end of this year. In particular, it is proposed instead of the two mandatory deadlines for the payment of real estate tax (August 15 and October 15) to set September 30 as the deadline for the payment of this tax. However, the possibility of pre-payment of property tax with a 15% discount may be abolished. In order to optimize tax administration, it is planned to improve the procedures for forced tax charging of individuals, including those who are not engaged in entrepreneurial activities. It is also proposed to optimize the procedure for repayment of debts of enterprises in insolvency proceedings. According to the Government’s Action Plan, it is planned to improve the percentage allocation mechanism: it is proposed that individuals who want to transfer 2% of the income tax to support public and religious organizations submit an electronic declaration. This is due to the fact that most of the individuals participating in this mechanism are civil servants who own an electronic signature and submit a declaration in electronic form. In the autumn of this year, a document will be prepared to ensure that certain regulatory acts comply with the updated version of the Commodity Nomenclature. There will be reviewed tax and customs exemptions for the import and sale of goods in duty-free mode and for petroleum products imported and sold in the customs control zones. The policy on the use of excise taxes on tobacco products is to be revised; as well as tax exemption policy for lotteries and sports betting organizers; ways of accounting and calculating the depreciation of fixed assets for tax purposes will be improved. A separate measure is the amendment of legislation in order to transpose the requirements of European directives in the field of VAT and excise taxes for processed tobacco. // 31.07.2019 - InfoMarket.