Income from the sale of personal cars owned by individual citizens of Moldova for at least 3 years may not be subject to income tax.
This is one of the measures provided for in the draft fiscal and customs policy for 2025, which has been submitted for public consultations. According to the project, in 2025 Moldova plans to expand sources of income that are not subject to income tax. Thus, according to the draft, it is proposed not to include in gross income the income of resident individuals received in the form of an increase in capital or interest on government securities purchased directly on the platform of the Ministry of Finance and related to bonds issued by local public authorities. This measure will stimulate citizens' interest in investing in financial instruments through the state. Rights granted under the stock options plan will also be non-taxable at the time of grant and exercise in accordance with the conditions to be established by the government. Another new category of non-taxable income is income received from the sale of electricity supplied to the distribution network, in accordance with the Law on Promoting the Use of Energy from Renewable Sources by Individuals. This measure aims to encourage citizens to invest in renewable energy technologies by increasing the number of solar energy installations, diversifying the energy mix and reducing carbon dioxide emissions, and is proposed to be put into effect immediately after the bill takes effect. In addition, according to the project, in 2025 the existing categories of exemptions will be expanded. Thus, income of individual citizens from the delivery of used electric batteries, including those transferred separately or as a component of electronic or electrical equipment, will be non-taxable. This provision will complement the already existing measure to exempt individuals from income tax when receiving income from the delivery of returnable packaging, waste and residues of paper and cardboard, rubber, plastic, glass (cullet), ferrous and non-ferrous metals, industrial waste containing metals or their alloys, as well as used electric batteries. Another innovation is that income from the sale of a vehicle that was owned for at least 3 years before the date of sale will be tax-free, with the exception of collectible or vintage cars. Today, only income received by resident individuals (citizens of Moldova and stateless persons) from the alienation of their main residence is not taxed. // 13.06.2024 - InfoMarket.
