News about Tax policy

The EU pays a higher tax for electricity than for fossil fuels. It is proposed to lower it to offset the impact of the war in Iran on energy costs.

The Moldovan authorities recognize the need to adapt the social policy and pension system in the conditions of population ageing, but the issue of changing the retirement age is not considered at this stage. This was stated by Minister of Labor and Social Protection Natalia Plugaru.

During the period of the new tax regime, freelancers paid a single tax of 2.9 million lei to the budget.

A levy of 0.5% of the investment volume to finance the development of technical standards in construction has caused concern in the business community. Representatives of the business community warn of risks to investment activity. The authorities say that it is possible to discuss the introduction of the mechanism, but not its expediency.

The shopping procedure will remain the same, but the price will increase in accordance with the payment of VAT. Customs duties and other charges to parcels are not proposed by the Ministry of Finance.

Moldovan Finance Minister Andrian Gavrilice said on the air of one of the Moldovan TV channels that “our Tax Code is like a colander through which the money of those who know how to use these mechanisms is poured”.

Ukraine proposes to introduce a reduced VAT rate of 14% for basic food products. This measure is seen as a mechanism to curb food prices due to rising fuel prices.

As part of the administrative-territorial reform, the authorities promise to revise the distribution of VAT and personal income tax.

The European Commission at the end of the week officially supported the initiative of a number of EU countries to introduce a tax on excess profits for large energy companies. The decision was caused by a sharp jump in energy prices due to geopolitical instability and the conflict in Iran.

Independent entrepreneurs (freelancers) are given two months to obtain a unique taxpayer identification number other than IDNP.

The Moldovan Parliament approved in the first reading a draft law providing for the abolition of customs duties on imports of most goods originating in the USA.

The zero customs duty on equipment for generating electricity from solar energy can be extended to wind installations as well as electricity storage devices.

The State Tax Service has published a draft of a new form of entrepreneurial patent. The document specifies a number of data on the holder, and his identification will be carried out by means of a QR code.

The Public Finance Control Commission today backed drafts to reduce the VAT rate on fuel from 20% to 12% while cutting excise duty by 50%.

Businesses are eagerly awaiting news about the anticipated tax policy changes planned for next year. The Ministry of Finance has already unveiled some of its ideas at the annual Tax and Customs Policy Conference on March 30.

Representatives of Moldovan companies claim a number of systemic problems that affect their activities and limit the development of production, including tax burden, staff shortages and bureaucratic barriers. In particular, they advocate for the elimination of import taxes on raw materials used for local production.

Finance ministers of five EU countries – Germany, Italy, Spain, Portugal and Austria – called for the introduction of a tax on excess profits of energy companies amid a sharp rise in fuel prices due to the war in Iran. This is reported by Reuters with reference to their letter to the European Commissioner for Climate Vopka Hukstra.

The Ministry of Finance’s budget forecasts will be compared with the estimates of the European Commission (EC). The authorities will have to justify serious discrepancies.

Starting and running a medium-sized business in the EU can be costly for employers. At the same time, the gap between the top and bottom of the union’s labor cost rankings is clear.

At an extraordinary meeting on Friday, the Romanian government approved a draft emergency decree aimed at reducing the excise tax on diesel fuel by 30 bani (about 1 Moldovan leu), which will directly reduce the price at gas stations.