Agricultural producers of Moldova will be able to benefit from VAT refunds.
According to the press service of the Parliament, the members of the Committee for Agriculture and Food Industry approved at Wednesday's sitting the co-authorship of the bill on the program of VAT refund for farmers, which will make it possible for the agrarians to get a refund of value added tax (VAT). It is planned that the beneficiaries of this program will be economic agents who work in agriculture and have lost more than 50% of agricultural production in 2022 on at least 50% of the total area of land used and/or owned, as a result of natural disasters, established by the acts of certifying approved by the Commission for Emergency Situations. VAT will be reimbursed to them on the basis of an application filed with the State Tax Service and payments will be made by the State Tax Service and the State Treasury within 25 working days. VAT will be refunded for the period from April 2022 to June 2023 inclusive. "The draft provides for the creation of the Program of VAT reimbursement to agricultural producers and the mechanism of its implementation. The bill is designed to reduce the negative impact of natural disasters, rising import prices and international logistics on economic agents in agriculture and food industry," the explanatory note to the bill says. The bill is subject to review in the profile commission and will be proposed for consideration and approval at the plenary session of Parliament in the first reading. // 26.10.2022 - InfoMarket.
