Moldovan government to take steps to support business

Chisinau, 19 March /MOLDPRES/- The Moldovan government will approve in a few days a draft law on some measures to support the business.

According to the Ministry of Finance, a moratorium will be set up on all state controls during the state of emergency. During this period, the fiscal, financial control on the quality of the products / services, the technological parameters and / or the specific requirements for the type of activity, as well as the control on compliance with the labor protection norms will be suspended.

At the same time, it is proposed to cancel the obligatory audit of the individual financial statements for 2019 for the medium and large economic entities.

Also, the payment of income tax from entrepreneurial activity for the first quarter of 2020 will be carried out until June 25, 2020. At the same time, individual entrepreneurs or peasant households (farmers), not paying VAT, up to three employees, as well as the economic agents of the small and medium enterprises sector (IVAO regime) will declare and pay the income tax for 2019 until 25 April 2020.

Also during the state of emergency, the term of examination of cases of violation of tax and customs legislation or examination of tax and customs appeals that occurred during the state of emergency will be extended by 30 days.

Also, starting 1 May 2020, the VAT rate will be reduced from 20% to 15% for HORECA sector.

The parliament approved on 17 March the draft government decision on declaring the state of emergency throughout the country on 17 March - 15 May 2020.