The Parliament of Moldova adopted in the final third reading the draft fiscal and customs policy for 2025
The document developed by the government provides for a set of measures aimed at ensuring economic, social and investment sustainability. The bill contains amendments to 13 laws to bring fiscal legislation into line with the development of economic and social processes in the context of the European integration process of Moldova. The proposed measures and instruments are aimed at promoting the creation of a harmonized, fair and efficient tax system. According to the document, in particular, the amount of personal exemption and exemptions for dependents will be increased by 10%. In particular, the amount of personal exemption will be 29.7 thousand lei. The range of tax-free income will also be expanded. It's 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; income received from the sale of electricity by individuals who produce renewable energy and to which the net metering/net invoicing mechanism is applied. There is also an exemption from income tax when paying for training contracts within the limits of the average salary; extension of the accelerated depreciation mechanism, through which 50% of investments in machinery/equipment are exempt from income tax in the first year to all companies, and not just large ones. Expenses on insurance premiums for individuals are exempt from income tax: in case of fires; disasters, etc. The changes also provide for the introduction of a Stock-option plan program, through which 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 in the authorized capital of a legal entity, for example, shares of the employer company. The bill also stipulates simplification of the tax reporting process for micro-enterprises with no more than 5 employees. The document establishes the expansion of the financial autonomy of local authorities, granting the right to increase real estate and land taxes up to 300% for buildings and unkempt urban lands, as well as for agricultural lands that have not been cultivated for 2 years in a row. Cancellation of the shipping notification is provided. The deduction of expenses of economic agents for gifts in kind is stipulated, including vouchers provided to employees, the annual amount of which in relation to the employee in aggregate does not exceed 10% of the average monthly salary in the economy, predicted and approved by the government for the year for which they were provided. It also provides for the deduction of employer expenses for any payments in favor of an employee, student interns and/or students on the basis of relations regulated by the Education Code and the Law on Dual Education. The tax on dog owners will be eliminated, and the rules governing advertising tax and advertising device tax 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.// 31.07.2024 — InfoMarket
