Moldovan cabinet sets transition period for licence holders till 31 December 2018

Chisinau, 5 December /MOLDPRES/ – The license holders, dealing retail commerce will have one year, until 31 December 2018, to inquire about the characteristics of the new tax regime and to move gradually to self-employment or another form of organizing the activities provided by legislation. The transition period is stipulated in a draft amendment to the Law on entrepreneurial patent approved at executive’s meeting today.

The legislative provisions shall be extended only to patent holders who will hold on December 31, 2016 patents available for retail stalls, kiosks, pavilions and food trade, provided that they carry out their activities only in authorized markets.

The project provides tax increase on patent. So, retail stalls, counters, kiosks, pavilions fee in markets of Chisinau and Balti will be 540 lei compared to 360 lei as it is now and the trade of foodstuffs local tax will be 700 lei compared to 540 lei.

Fiscal Policy for 2017 provides for a simplified tax regime on income tax of individuals who derive income from independent activities of trade with other individual persons without forming a legal form of entrepreneurship. The simplified regime will be applied to individuals who have income from trading activities, without constituting a legal form of entrepreneurship, in an amount not exceeding 600,000 lei in a tax period. The object of taxation will be income from independent trade declaration obtained within tax period. The income tax rate will be 1 per cent of the object of taxation, but not less than 3,000 lei annually. Although conditions are more favorable, patent holders insisted on extending the term of patent-based activity.

(Reporter V. Bercu, editor L. Alcaza)