OREANDA-NEWS. October 14, 2011. This is set in draft fiscal and customs policies in 2012, approved by the government at meeting on Wednesday. According to Finance Minister Vyacheslav Negruta, this will void all general and individual tax releases, but guaranteed for a specified period of time, for example, free economic zones.

It will also preserve benefits on interest rates on bank deposits and corporate securities in the form of bonds, which are not taxed. The changes are designed to increase revenue to the state budget. The amendments are based on the Program Plan of the Government and IMF recommendations on national tax policy.

It should be noted that the zero tax rate for companies was introduced in Moldova in 2007, along with the amnesty of capital and fiscal amnesty. Package of economic reforms was introduced on the initiative of then-President Vladimir Voronin to improve the capitalization of the economy, enhance the investment process, reduce inflation, legalize of the shadow economy.

Zero rate of income tax was valid on condition of re-investment in product development. Income tax of 15% was levied if the businessman decided to stop dividend reinvestment by giving money to private consumption.