OREANDA-NEWS. December 20, 2011. It was voted for by deputies of the Alliance for European Integration who agreed to further consider numerous amendments to this document in the second reading.

 The fiscal policy for 2012 stipulates abolishment of the zero rate of the income tax for legal entities and introduction of the 12% single rate, Veaceslav Negruta, the minister of finance has said. In addition, since January, 2012 the single simplified income tax is going to be imposed on small business with money turnover up to 600 leis a year.

The tax rate is to be 4% of the enterprise’s turnover. Since January, 2012 it is also provided to introduce a mechanism of recovering VAT on capital investment. The document also stipulate increase of excises on oil products by about 7% , on automobiles by approximately 50%, on strong drinks by 50-75%. A fixed component of the excise on tipped cigarettes is to be increased from 10 to 20 leis per 1 thousand of cigarettes, with ad valorem taxation to be raised from 18% to 24%. At the same time, it is provided to abolish excises on wines, wine pressing and crystal, to keep VAT on sugar at 8% and to introduce a new excise on liquefied gas at 1,8 thou. leis per tone.

It is also intended to raise the rate of the real-estate tax in cities and municipalities. Besides, it is planned to introduce of real -estate tax on private residences, land lots and constructions in villages and other dwelling places of the municipality of Chisinau and Balti. Besides, since January, 1, 2012 it is planned to start applying indirect methods in estimation of taxable incomes of the individuals who are non businessmen and whose annual expenses exceed 300 thousand leis or whose property is being increased more than by 1 mln. leis within a year.

These measures will be imposed to prevent fiscal evasion of the tax payers who own expensive real estate, cars and are considered flourishing businessmen but don’t pay taxes referring to their unprofitable businesses. These changes in the fiscal policy will help the authorities of Moldova to receive additional 2 bln. leis of revenue into the budget.