2018 fiscal and customs policy stipulates clear tax rules, based on equity and simplicity.
The document has been approved by government today, accordingly, it is to stimulate investment environment in Moldova and increase revenues to state budget.
The draft law contains series of amendments and additions to the legislative acts resulting from fiscal and customs policies as well as obligations assumed by the Government under the Association Agreement Moldova - EU.
Regarding the activity of economic agents, the most important direct and indirect fiscal measures imply a new methodology for recording the fixed assets; application of the reduced VAT rate of 8% for solid biofuel produced for public institutions; the application of VAT exemption with right of deduction, excise duty and customs duties to the supply of fuel and merchandise to Moldovan vessels that are involved in international transport. Likewise, the right to a refund of value added tax is granted to milk producers.
For individuals, new taxable income installments are set, with the amount of personal exemptions being increased by 6%. Also, the 5% quota for income tax of citizens delivering agricultural production to the economic agents is set. The project also aims to extend the tax on wealth for other components, namely on cars worth more than 1.5 million lei.
The document also includes provisions for the transposition of EU directives in the field of indirect taxation, such as VAT and excise duties. In particular, the scheme for raising excise duty on petroleum products, tobacco and alcohol is laid down for three years.
The main customs amendments refer to the cancellation of tax and customs facilities for duty-free shops located in country and entry to country starting 1 July 2018.