Ministry of Finance launched discussions on tax and customs policy for 2024
The Ministry of Finance aims to develop a tax and customs policy document for next year contributing to Moldova's own revenue consolidation and economic growth, focusing on harmonization of legislation and focused tax and customs incentives. Finance Minister Veronica Sirețeanu announced this during talks with the business community.
According to Veronica Sirețeanu, one of the tax policy priorities for 2024 is to initiate the process of rewriting the Tax Code, together with the completion of the cycle of drafting the secondary and tertiary framework resulting from the Customs Code. A series of thematic working groups will also be launched on subjects related to the tax documentation of economic operations (deductions related to travel, delegations, representation, etc.), as well as those arising from the tax policy provisions approved for 2023 (transfer pricing, non-residents, IFRS, etc.).
The Minister further mentioned the relaunch of the work of the advisory councils set up under the Ministry of Finance (tax and customs, audit, accounting, etc.).
According to Veronica Sirețeanu, it is intended that the draft tax and customs policy for next year will be approved by 1 July 2023, in order to ensure the implementation of the rules with a six-month reserve, as specified in the Tax Code and the Customs Code.
In turn, business representatives put forward as proposals: revision of the investment income tax mechanism; revision of the environmental pollution tax payment system and adjustment of the POLMED17 form; reform of the local tax system to provide more transparency and predictability; revision of the amount of deduction for food and transport expenses; launch of a new schedule of excise tax rates for the next 3-5 years; provide tax incentives for economic agents implementing the green economy, etc.
