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Category: Banks & Finance
The authorities are proposing to review the system of business deductions and simplify it by amending Article 24 of the Tax Code.
The Egyptian pound has become the world’s best-performing currency following a sharp drop in oil prices resulting from the U.S.-Iran agreement to reopen the Strait of Hormuz — a move that is expected to restore supplies and ease inflation fears, according to Bloomberg.
Prime Minister Alexandru Munteanu on Tax Policy 2027: We are proposing a reform developed through dialogue that will support economic development, investment, and growth in people’s incomes.
In its latest June report on financial stability, the International Monetary Fund recommends that the National Bank of Moldova (NBM) strengthen protections for commercial banks to help them weather potential economic and financial shocks. IMF experts also suggest paying closer attention to foreign exchange risks, maintaining the flexibility of the national currency, and fostering confidence in the banking system and the regulator’s policies as a whole.
Effective June 17, 2026, the National Bank of Moldova will put into circulation a commemorative coin titled “Sergiu Rădeuțanu—100th Anniversary of His Birth,” which is part of the “Science and Innovation” series.
Capital gains realized on the sale of a primary residence will be exempt from income tax only if the amount does not exceed 1 million lei. If the limit is exceeded, the amount will be subject to income tax at a rate of 15%.
Moldova is expanding its international exchange of financial information. The Committee on Economy, Budget, and Finance will consider amendments to the Multilateral Agreement among Competent Authorities on the Automatic Exchange of Financial Account Information.
Effective January 1, 2027, cash gifts in Moldova may be included in the recipient’s gross taxable income. This does not apply to transfers between spouses and first-degree relatives.
Ukraine plans to bring its banking and insurance sectors into line with European Union standards by 2028, accelerating financial market reforms even amid the war.
The draft tax policy for 2027 includes changes and additions regarding excise tax policy and a number of new excisable goods.
The draft bill on tax policy measures for the coming year, proposed by the Ministry of Finance and submitted for public consultation, contains several proposals to raise personal income tax rates.
By 1%, the income tax rate on dividends, interest payments from banks, credit unions, crowdfunding service providers, and issuers of debt obligations and bonds will increase from 6% to 7%. It will also apply to income earned by individuals from the supply of agricultural products in kind.
In May of this year, the State Tax Service sanctioned 640 individuals engaged in illegal business activities.
To encourage legal employment and ensure that every worker receives a monthly income, the authorities are proposing to replace the current personal tax exemption with monthly payments. These payments will be funded by refunding a portion of the income tax they have paid.
The 2027 draft budget and tax policy, proposed by the Ministry of Finance for public consultation, calls for reducing the income tax rate on salaries not exceeding 1 million lei from 12% to 7%. For salaries exceeding this amount, the rate would increase to 15%.
The draft tax policy for next year provides for adjustments to the tax regime for independent contractors (freelancers). Changes are proposed to income thresholds and tax rates, as well as to the rules governing the deduction of expenses incurred by companies when working with them.
Ukraine and the IMF have reached a staff-level agreement on the first review of the four-year $8.1 billion EFF program, paving the way for a new $690 million tranche.
At current prices, it’s impossible for an average family to buy a home with a mortgage. Renting is also out of the question, especially if VAT is included in the rent.
The government is strengthening the mechanism for selecting and monitoring major projects involving public investment.
Moldova and Belgium have initiated negotiations on a draft protocol amending the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Income and Capital.
