In Moldova, the VAT refund period for agricultural producers has been extended for another 12 months.
In particular, this is provided for by the corresponding amendments to the Law on the VAT Refund Program for Agricultural Producers, which the parliament adopted in two readings at once. The changes stipulate a 12-month extension of the period during which economic agents working in the agricultural sector will be able to benefit from value added tax refunds. VAT refund will be made in 2023-2024 for economic agents whose activities are 95% concentrated in one or more of the following activities: cultivation of perennial and annual plants; growing plants for propagation; livestock farming; activities in mixed farms; agricultural support activities and post-harvest activities. Agricultural producers who suffered losses as a result of the embargo imposed by Russia on the import of vegetable products from Moldova will also receive compensation. The bill was developed to mitigate the negative impact of rising prices for raw materials and international logistics on economic agents in the agriculture and food industry, as well as a sharp reduction in purchase prices for agricultural products on international markets. The author of the legislative initiative, Chairman of the Commission on Agriculture and Food Industry Alexandr Trubca noted that production costs in the 2023 agricultural year increased significantly and at the same time prices for basic grain products decreased, which affected the solvency of farmers in terms of their preparation for the new agricultural season. It is expected that about 700 economic agents working in the agricultural sector will benefit from the VAT refund, and payments from the budget for these purposes will amount to about 285 million lei.// 28.12.2023 — InfoMarket
