Parliament adopted the draft fiscal and customs policy for 2025 in the first reading
As Finance Minister Petru Rotaru told deputies, the bill includes amendments to 13 laws and takes into account more than 90 proposals expressed by representatives of civil society, business associations, government agencies and local authorities following consultations organized by the Ministry of Finance. According to the project, the concept of a “stock options plan loyalty program” will be introduced into the Tax Code, 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 preferential price or receive free of charge a certain share of participation 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 a fine, a new fine will be applied - from 5 thousand to 15 thousand lei. The right to apply the accelerated depreciation method is provided to all legal entities, the right to deduct the amount of VAT for goods destroyed as a result of emergency situations is introduced, and the amount of fixed assets that can be exempt from VAT without the right of deduction, intended for inclusion in the authorized capital of an economic subject. The mechanism for deducting expenses for tax purposes will also be improved: deduction of losses on transactions with related parties in case of compliance with the arm's length principle when determining the price; deduction of the subject's expenses related to on-the-job training; establishing the maximum amount of deductible expenses incurred per employee, by type of expense, etc. Next year it is planned to increase the amount of exemptions from income tax for individuals by 10% (they have not changed for the last two years). The range of tax-free income will also be expanded. We are talking about income received by individuals from the sale of a car that has been owned for at least 3 years; income of individuals from interest received on government securities and bonds issued by local governments; revenues received from the sale of electricity by individuals who produce renewable energy and are subject to a net metering/billing mechanism. The changes also provide for simplification of the tax reporting process for micro-enterprises with no more than 5 employees. The tax base for calculating property tax in 2025 may increase: it is planned to impose property tax on real estate with a total area of 120 square meters or more, with an estimated value of 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). At the same time, the document establishes the expansion of the financial autonomy of local authorities, offering the right to increase real estate and land taxes up to 300% for buildings and unkempt urban lands, as well as for uncultivated agricultural land for 2 years in a row. The tax for dog owners will be abolished (in 2023 it was received in the amount of 2 thousand lei), and the rules governing the tax on advertising placement and the tax on advertising devices will also be adjusted. In the customs area, the project aims to extend the validity of permits for special customs regimes until January 1, 2027 and exemption from guarantee of goods placed under the customs regime of temporary import for technical and investment assistance or active improvement projects until December 31, 2026. Penalties for customs declarations or accompanying documents for goods with incorrect data will also be reduced from 40% to 2% if the goods have undergone full physical control and received customs clearance. The bill will need to be finalized by the second reading. The Commission on Economics, Budget and Finance will organize extended hearings on July 16, registration is required to participate in them. // 11.07.2024 — InfoMarket.
