The government approved the draft fiscal and customs policy for 2025.
The project includes amendments and additions to 13 laws of the country; it is intended to continue the process of harmonization of national legislation with European legislation, including in terms of specifying customs administration procedures, the application of VAT and excise taxes, the abolition of some tax and customs benefits, etc. Next year it is planned to increase the amount of income tax exemptions for individuals by 10% (the amount of personal exemptions did not change in 2023-2024). The tax base for calculating property tax in 2025 may increase: tax real estate with a total area of 120 square meters or more, the estimated value of which is at least 200 average monthly projected salaries in the economy, approved for the tax calculation period (now the second component, which is taken into account when calculating the tax, is fixed - at least 2 million lei). The Tax Code will introduce the concept of a “stock options plan” loyalty program, which companies will be able to implement, giving their employees the right to participate in the authorized capital of their employer. Through this program, employees and administrators of companies (residents of Moldova) will be able to purchase at a reduced price or receive free of charge a certain number of shares in the authorized capital of a legal entity, for example, shares issued by the employer company. The legislation plans to establish the exact amount of the fine for companies that have not installed a cashless payment terminal (POS) - from 4 thousand to 6 thousand lei for each case of failure to fulfill the obligation, and in the event that the discrepancy is not eliminated within 30 days from the date of application of fine, a new fine will be applied - from 5 thousand to 15 thousand lei. It is proposed to adjust excise tax rates on tobacco sticks and tanks for heating tobacco, electronic cigarettes and accessories for 2025 and 2026. The bill provides for expanding the range of non-taxable income regulated by Article 20 of the Tax Code, including income of resident individuals received in the form of an increase in capital or interest associated with government securities and/or bonds issued by local public authorities; income received from the sale of electricity by individuals who produce renewable energy and to which a net metering/billing mechanism is applied, etc. Non-bank credit institutions will be given the right to deduct reserves intended to cover possible losses associated with non-repayment of non-bank loans and non-payment of interest on them, as well as to cover claims related to non-repayment of installments and interest on financial leasing. Some of the changes relate to local taxes and fees, tax breaks and deductions, etc. According to the Ministry of Finance, the implementation of the proposed measures will not have a negative or positive impact on budget revenues. At the same time, some measures are designed to increase the liquidity of enterprises, increase economic growth, and their effects will be felt in subsequent years. It is worth noting that the project has already undergone extensive consultations at the level of the Ministry of Finance, the National Commission for Consultations and Collective Negotiations, etc. The bill must be approved by parliament. // 08.07.2024 – InfoMarket.
