Legal entities and individuals engaged in entrepreneurial activities must submit an income tax declaration to the State Tax Service by March 25.
The State Tax Service recalled that taxpayers engaged in professional activities, as well as individuals engaged in independent activities, must submit a declaration by March 25. The declaration can be submitted electronically or on paper. At the same time, it is noted that resident legal entities, with the exception of state authorities and public institutions, resident organizational forms with the status of an individual, persons engaged in professional activities, individuals engaged in independent activities of a permanent establishment of a non-resident in Moldova, are required to submit an income tax declaration regardless of the existence of a liability to pay tax. Herewith, since the 2020 tax year, amendments have been made to the legislation regarding the determination of taxable income for economic agents - subjects of the SME sector, namely, the taxable base has been expanded. Thus, the object of taxation is income, determined according to accounting data, received in the tax declaration period, with the exception of: income from subsidies; income from compensation for material damage; income from surplus long-term and circulating assets established during the inventory; income from non-cash settlements of expired debts in relations with related parties; income from dividends; income from damages resulting from disasters and other extraordinary events; income received from the reimbursement or write-off of interest and / or penalties, which were expenses that were not deductible in calculating taxable income during the period of application of the general regime; income received from exchange rate differences. Also, starting from the 2020 financial year, economic agents of the SME sector must declare their tax liabilities by submitting a Report on Income Tax for Business Entities in the Small and Medium Enterprise Sector (form SIMM20), starting from the period 2020. The deadline for payment of income tax by installments is up to 25 March, 25 June, 25 September and 25 December of the tax year. Agricultural enterprises, peasant (farmer) households can pay tax in two stages: a quarter of the amount - until September 25 and the rest of the amount - until December 25 of the tax year. Business entities of the small and medium-sized enterprises sector, persons carrying out professional activities in the field of justice and health care, as well as individuals carrying out independent activities, pay income tax to the budget in installments, quarterly by the 25th day of the month following the reporting quarter.// 02.03.2021 — InfoMarket.
