In Moldova, legal entities will be able to implement the Stock options plan loyalty program, giving their employees the right to participate in the authorized capital of their employer.
The Ministry of Finance is promoting a corresponding concept in the draft fiscal and customs policy for 2024. In particular, this concept will be included in the Tax Code of Moldova. Stock options plan is a program initiated by a legal entity, through which its employees and administrators resident in Moldova will be able to purchase at a preferential price or receive free of charge a certain number of shares in the authorized capital of the legal entity, for example, shares issued by the employer company. The program must be approved by a decision of the general meeting of shareholders/participants of the company, and the share of the Stock options plan cannot exceed 25% of the authorized capital for all participants in the program. It is expected that this program will stimulate and increase the level of loyalty of employees and company managers. To qualify a program as a Stock options plan, it must cover a minimum of 3 years from the date of grant of the relevant right to the date of its implementation (purchase/receipt of participation rights). In addition, income received under this program will not be subject to income tax. Moreover, in the event of subsequent transactions with participation shares acquired at a preferential price or received free of charge, this income will be determined as capital gain. The cost base of the alienated assets will be considered the preferential purchase price of these shares, and if they are received free of charge, the cost base will be equal to zero. Corresponding amendments are planned to be made to Articles 40 and 42 of the Tax Code. Consultations on the draft tax policy are being held until June 19. // 10.06.2024 — InfoMarket.
