Moldovan cabinet approves procedures for extending payment period of import duties

Chisinau, 17 November /MOLDPRES/- The authorized economic agent has the right to request extension of payment term of import duties, regardless of granting facilities or other postponement given by the customs authorities in the process of clearance. Procedures for implementing mechanism of granting deferral or extension of payment period of import duty seen in the Customs Code were approved by the cabinet on 16 November.

According to Finance Minister Octavian Armasu, the extension of payment period of import duties represents a prerequisite for issuing temporarily financial flow of importing enterprises. Also, it offers them the possibility to get preferential bank loans and to accumulate the necessary sources.

Under the document, the extension of payment term will be calculated upon the day of validation of customs declaration. The authorized economic agents willing to benefit from this duty must request an application on extension of payment term that cannot exceed 30 days.

The amendments approved by the government are meant to increase the imported goods, production capacities, to improve investment climate in the country, as well as to increase accumulations of national public budget.

(Reporter V. Bercu, editor M. Jantovan)