Moldova to approve the draft tax and customs policy for 2024 by July 1; the Ministry of Finance started discussions to this effect with the business.
The Finance Ministry reported this, noting that, in particular, the leadership of the Ministry of Finance discussed priorities and objectives of the tax and customs policy for 2024 at a meeting with representatives of the business community. According to Finance Minister Veronica Sireteanu, it is expected to approve the draft tax and customs policy for next year by July 1, in order to ensure the implementation of norms for the application of new provisions with a 6 month time margin, as stated by the Tax and Customs Codes. There it is stipulated that amendments and/or additions to these codes are put into effect 180 calendar days from the date of publication of the law on amendments and/or additions in the Official Journal of Moldova (Monitorul Oficial). According to the Ministry of Finance, representatives of the business environment put forward the following proposals during the discussions: revision of the mechanism of taxation of investment income; revision of the system of payment of pollution fees and adjustment of the POLMED17 form; reform of the local tax system to ensure greater transparency and predictability; revision of the deductible expenses for food and transportation costs; launching a new calendar of excise rates for the next 3-5 years; provision of tax incentives to business entities implementing the "green economy," etc. Veronica Sireteanu mentioned that one of the priorities of fiscal policy for 2024 is the initiation of the process of revision of the Tax Code along with the completion of the cycle of secondary and tertiary normative framework deriving from the Customs Code. At the same time, it is planned to launch a number of thematic working groups on topics related to the tax documentation of economic transactions (deductions related to business trips, delegation, representation, etc.), as well as those resulting from tax policy provisions for 2023 (transfer pricing, non-residents, IFRS, etc.). The Minister of Finance also noted the resumption of activities of advisory councils established under the Ministry of Finance (tax and customs, audit, accounting, etc.). Representatives of the business community appreciated the openness of the Ministry of Finance and expressed their intention to fully participate in the event. The Ministry of Finance emphasized that it intends to develop a document on fiscal and customs policies for the next year, which will contribute to the consolidation of Moldova's own revenues and economic growth, with a focus on the harmonization of the legislation and on targeted tax and customs benefits. // 06.03.2023 – InfoMarket
