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Banks face critical technical difficulties due to the need to withhold income tax (3%) from income from bank deposits of individuals resident in Moldova.

Banks face critical technical difficulties due to the need to withhold income tax (3%) from income from bank deposits of individuals resident in Moldova.

Specialists of the American Chamber of Commerce and Industry in Moldova (AmCHam Moldova) write about this in their appeal to the Ministry of Finance, the State Tax Service and the Center for Information Technologies in Finance. They note that 2021 is the first reporting period for income from bank deposits received by resident individuals by filing Form IALS 21. At the same time, every year banks already face difficulties (from a technical and functional point of view) in importing the IALS Form and work through the STS Automated Information System, given that the amount of information being processed is large. AmCham specialists suggest that financial institutions should be able to download another database (salary information, personal withholding information, corporate withholding information, tax withholding information on interest on deposits) integrated into the IALS 21 form, with access only to a certain type of income (both for working with data and for viewing information). It is also proposed to replace the IALS 21 form with several new profile forms, including given that the IALS 21 form does not even comply with the minimum requirements for the protection of personal data.// 14.04.2022 — InfoMarket

News on the subject

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