In accordance with the provisions of the State Budget Law for the relevant year, the privatisation tax is a one-off payment levied on transactions involving public property during the privatisation process. The rate of the privatisation tax is set at 1 per cent of the purchase value.
Legal entities and individuals in Moldova, as well as foreign entities to whom public property is transferred into private ownership during the privatisation process, may be subject to the privatisation tax. Such property is subject to the privatisation tax.
This may include a block of shares, a stake in the authorised capital, separate immovable property, movable property, non-residential premises, construction-in-progress projects, complexes of immovable property, land plots, housing that has become state property, and other assets.
The provisions of the legislation stipulate that privatisation may be carried out through sale by hammer auction or electronic auction, or through a descending-bid auction or electronic auction.
Consequently, if public property being sold at auction is subject to privatisation, a privatisation tax of 1 per cent of its value will be levied upon its acquisition.
As previously reported by Logos Press, Moldova has launched a new round of privatisation, putting up for sale a number of state assets in the industrial, construction, publishing and chemical sectors.
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