Moldovan parliamentary committee approves measures to support business activity

Chisinau, 22 April /MOLDPRES/- The parliamentary committee on economy, budget and finance approved today a report on the draft law on measures to support entrepreneurship and amending some laws for two readings. The draft was worked out by the government in the context of the economic and social effects caused by COVID-19.

The draft due to be proposed for consideration to parliament sets out a mechanism for implementing the interest grant program. The program is meant to facilitate business access to loans on 1 May 2020 – 31 December 2020. The purpose of the program is to provide support to the companies that contact credits by offsetting the amount of the monthly interest paid.

Also, the document sees setting the legal framework for the implementation of the VAT refund program for the subsequent period. Thus, VAT payers will have the right to request a refund of the tax, which will significantly increase the liquidity of enterprises. At the same time, to ensure the support of the enterprises from the HoReCa sector, simultaneously with the non-admission of the increase of the VAT amounts on debit, it is proposed to reduce the VAT rate from 20% to 15%.

The draft also includes provisions aimed at applying VAT exemptions, excise duties, customs duty and duty for customs procedures for consumables imported by international intervention teams / modules, participating in international exercises to manage the consequences of emergency situations held in Moldova.

It stipulates supporting employers in agriculture by granting them the right to benefit, in certain cases, from the compensation of mandatory state social insurance contributions.

It is also proposed to set up two fees, namely portability fee and airport charge. At the same time, the amendments to the Law on Information Technology Parks aim to extend the guarantee on the application of the single tax for IT park residents, which was to expire on 1 January 2022, by 4 years - until 1 January 2026.

The draft also proposes adjustments to the Customs Code and the Law on Customs Service, as well as the Law on local public finances.