Moldova is preserving the duty-free regime for residents of free economic zones (FEZ) until January 1, 2029
This is stipulated by the relevant amendments to the Customs Code, passed by the Parliament in the first reading. The amendments proposed by the Finance Ministry are among the commitments assumed within the memorandum of agreement between Moldova and the European Union, and are a condition for the allocation of a 50-million-euro financing tranche. The amendments propose to maintain the current duty-free regime for FEZ residents until January 1, 2029. According to the authorities, this will not be related to the sources of financing of the state budget, as these benefits, worth about 30 million lei in 2023, were introduced in 2014 and 2017. It is also proposed that from 2029 to 2034, FEZ residents will continue to enjoy preferential treatment. In particular, customs duty will be calculated only on goods that do not have preferential origin. Thus, the draft law will further stimulate investment and job creation in free economic zones. According to statistical data, in 2023, 26 residents of free economic zones imported processed goods or processed in FEZs on the rest of the customs territory of Moldova. These resident companies employed more than 1,200 workers. The amendments to the Customs Code are to be passed by the Parliament in the second reading. Once adopted, the new rules will come into force on January 1, 2025, while some provisions will apply from 2029. // 22.11.2024 - InfoMarket.
