Measures to diminish negative effects on businesses during coronavirus outbreak

In the next days, Moldovan lawmakers will approve a bill which stipulates some measures to diminish the negative effects on businesses in the current epidemiological situation.

These include to suspend the fiscal, financial control on product quality/ the control on compliance with the labor protection norms. It's suggested to cancel the obligatory audit of the individual financial statements for 2019 for medium and large economic entities.

Income tax for legal entities for the first quarter of 2020 will be deferred until June 25, 2020.

In the same context, the declaration and payment of income tax for 2019 can be submitted until April 25, 2020.

The deadline to examine the case of tax/customs legislation violation or the cases of appeals that are registered during this period will be extended by 30 days.  

At the same time, starting May 1, 2020, the VAT rate will be reduced from 20% to 15% for the HORECA sector.

 

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