On 29 May, FIA Executive Director, together with experts from member companies, participated in the discussions launched by the Ministry of Finance of the Republic of Moldova on the draft Tax and Customs Policy for 2024. FIA community welcomed the elaboration of the Policy by the Ministry in the terms set out in the legislation, and also expressed its support for some provisions of the draft, including:
– Setting excise duties for a 3-year fiscal calendar, which ensures predictability for the business environment and forecasting budget revenues;
– deduction of expenses incurred by the employer for compensation for alternative childcare services, sports tickets, gifts in kind, including vouchers, expenses incurred for the purpose of employee development (team-building, training), expenses related to contracting medical services;
-increasing the deductible ceiling for voluntary health insurance premiums to the amount of an average monthly salary in the economy, as forecast and approved annually by the Government;
– raising the ceiling from MDL 360.000 to MDL 720.000 of the annual taxable income obtained by individuals;
– clarification of the qualification of non-resident income to be taxed in the Republic of Moldova;
– clarification of self-employment as an alternative to “patents in trade”, and others.
FIA Executive Director also came up with a set of other proposals to be considered and reflected in the Policy, including:
– Removing the 5-year limit on carry-forward of tax losses incurred;
– Standardisation of the categories of products for which the reduced VAT rate of 8% applies;
– Clarification on the carrying out of customs clearance, at the request of the economic agent with AEO status, at internal or border customs posts other than the place of registration of the legal seat;
– Elimination of the obligation to sign and stamp tax invoices issued on the basis of the accompanying goods certificate;
– Deduction of taxi expenses incurred by the company for providing transport for business purposes, and others.
Interested stakeholders may submit their proposals until June 5, 2023.
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