Moldova and France have signed a new intergovernmental Convention on Avoidance of Double Taxation and Prevention of Income Tax Evasion.
The document was signed by Deputy Prime Minister and Minister of Foreign Affairs and European Integration of Moldova Nicu Popescu and Minister of Foreign Affairs of France Catherine Colonna. The Convention will allow the development of priority branches of the economy by implementing new investment projects, which will lead to creation of new jobs in our country. The Ministry of Finance noted that the convention is aimed at developing the economic relations between Moldova and France, both in excluding double taxation of individuals and legal entities and in attracting foreign investment. At the same time, the document aims to create a tax system which would coordinate the activities of the contracting states to avoid double taxation, eliminate any form of tax discrimination and ensure exchange of information. The Convention will enter into force on the first day after the receipt of the last notification of the completion of internal procedures necessary for the entry into force of the document. The Convention is subject to ratification by the Moldovan Parliament. On January 30, 2006, Moldova and France signed in Paris the Intergovernmental Convention on Avoidance of Double Taxation and Prevention of Fiscal Evasion, which Moldova ratified in 2007, while France refused, arguing that the document does not comply with current tax standards. After further consultations, the parties agreed to sign the new Convention. Earlier Moldovan President Maia Sandu called the Convention between Moldova and France an important agreement for attraction of new French investments into the country. According to her, signing of this document will increase the interest of French investors in Moldova, and will bring benefits for the Moldovan Diaspora in France as well. At present Moldova applies agreements and conventions on avoidance of double taxation with 50 states. // 16.06.2022 - InfoMarket
