The Parliament of Moldova approved in the first reading the draft law on the VAT refund program for agricultural producers.
This document was developed in order to reduce the negative impact on economic agents in the field of agriculture and the food industry caused by natural disasters, rising prices for raw materials, disruption of supply chains as a result of the Russian war in Ukraine, and the Russian embargo on plant products from Moldova. It is agreed that the state will reimburse the value added tax (VAT) to agricultural producers to cover their debts on many types of taxes, duties and fees. It is planned that the beneficiaries of this program will be economic agents engaged in activities in the field of agriculture and suffered more than 50% loss of agricultural products in 2022 on an area of at least 50% of the total area of land in use and / or ownership as a result of natural disasters that took place in 2022, established by the ascertaining acts approved by the commissions for emergency situations. VAT will be refunded on the basis of an application submitted to the State Tax Service, and payments will be made by the State Tax Service and the State Treasury within 25 working days. VAT refunds will be made for the period from April 2022 to June 2023 inclusive. Chairman of the Commission on Agriculture and Food Industry Alexandru Trubca, who is also one of the authors of this legislative initiative, noted that the bill provides for the creation of a VAT refund program for agricultural producers and a mechanism for its implementation. The bill must be adopted in the second reading.// 03.11.2022 — InfoMarket.
