Governments of Moldova and France will sign a new Convention to avoid double taxation and prevent income tax evasion.
The decision to sign the said intergovernmental convention was approved on Wednesday by the parliamentary commission on foreign policy and European integration. The document is intended to promote the development of trade and economic relations between Moldova and France, as well as to attract new foreign investments to our country. The new intergovernmental convention is aimed at creating tax systems that harmonize the efforts of the two states aimed at preventing double taxation, distributing taxation rights, as well as eliminating any forms of tax discrimination, which will provide favorable conditions for foreign economic activity and strengthen economic relations. It should be noted that Moldova and France on January 30, 2006 signed in Paris an intergovernmental convention on the avoidance of double taxation and the prevention of income tax evasion, which Moldova ratified in 2007, and France refused, arguing that the document did not comply with current standards in the tax area. Following further consultations, the parties agreed to sign a new Convention for the avoidance of double taxation and the prevention of income tax evasion. The negotiations took place from July 2020 to February 2021. As a result, representatives of the Ministry of Finance and the Ministry of Foreign Affairs of Moldova announced that they had successfully completed negotiations with their French counterparts on the draft intergovernmental convention on the avoidance of double taxation and the prevention of income tax evasion. Earlier, Moldovan President Maia Sandu called this convention between Moldova and France an important agreement for attracting new French investments to Moldova. According to her, the signing of this document will increase the interest of French investors in Moldova, as well as bring benefits for the Moldovan Diaspora in France. // 18.08.2021- InfoMarket.
