Moldovan finance ministry amends regulation on subsidization of farmers hit by natural calamities

Chisinau, 23 September /MOLDPRES/ - More amendments have been made to the regulation on the way of subsidization of interests on the bank loans borrowed on the period 1 May – 31 December 2020. These amendments were approved according to an Order by the Finance Ministry, published in the Official Journal (Monitorul Oficial) today.   

Under the document, it is about new provisions and aspects related to the way the interests on the bank and/or non-bank loans are subsidized, as well as general aspects on the reimbursement of the value added tax (VAT) for farmers. Thus, the beneficiaries of interests’ subsidization are the farmers hit by natural calamities, who borrowed bank loans, no matter the date of their borrowing. The payment of the subsidy is made for the interests paid starting from 1 May 2020 till December 2020 inclusively.    

As for the VAT’s return, the legislation was amended through the establishment of the programme on VAT’s reimbursement for the farmers hit by natural calamities. Thus, the farmers hit - subjects of VAT, according to the declaration on VAT for December 2019, registered sums of VAT related to the deduction in the next fiscal period, they have right to the reimbursement of VAT sums for deduction for the subsequent period covered in the declarations on VAT for the fiscal periods of the period of the Programme on VAT’s reimbursement (May – December 2020 inclusively).

The farmers hit by natural calamities are regarded the economic agents who bore losses of agricultural production of more than 50 per cent on an area of at least 30 per cent of all owned and/or possessed lands, in the wake of the calamities occurred in 2020, determined according to the damage inspection reports approved by the commissions for emergency situations.  

To benefit from VAT’s reimbursement, the farmers hit according to the aforementioned programme must meet certain conditions, which can be learned at the State Fiscal Service. The term of the application’s consideration is 15 working days, during which decision-makers carry out a topic-related control of checking the correctness of establishing the VAT’s sum for reimbursement.

Additional information is available at the single call centre of the State Fiscal Service, at the phone number 0 8000 15 25 (free call).

Source: www.monitorul.md