Amendments to the regulations on fiscal policy for 2024 have been published in Monitorul Oficial (the Official Journal of Moldova).
The document provides for amendments and additions to 15 laws, most of which will apply from 2024, but some will take effect in 2025-2026, and some have been in force since publication. Thus, the range of tax benefits has been expanded and the categories of employer expenses in favor of employees allowed as deductions for tax purposes have been revised. In particular, the categories of deductions for individuals have been expanded when establishing income tax liabilities by expenses related to insurance premiums under optional health insurance or under a contract for medical services, expenses related to contributions under a life insurance contract. Individuals will also be able to deduct interest payments related to mortgage loans up to the average wage in the economy. The rules for determining capital gains or losses are revised. A tax regime is introduced for economic agents that manage ferrous and non-ferrous metal waste, under which an income tax rate of 7% is levied from companies in this sector. According to the document, the VAT rate for HoReCa companies will be reduced from 12% to 8%. It is envisaged to retain the rule of setting excise rates for a period of 3 years to ensure the achievement of the principle of predictability for the business environment and a clear forecast of budget revenues. Also, the list of excisable goods is revised (excise duty on furs is excluded) and a tax regime is introduced for passenger cars by imposing VAT on them on a general basis starting from January 1, 2026, with a gradual reduction of the excise duty rate. Adjustments were made to the procedure for appealing decisions of the State Tax Service, procedures were established for imposing local taxes on individuals engaged in independent activities, etc. // 10.08.2023 - InfoMarket.
