1,5% Ad Valorem Duty on But Export Lifted in Moldova
OREANDA-NEWS. April 21, 2014. The relevant amendments to the law on nuts, nut crops and seeds passed the final reading in Parliament. The duty was levied on the nuts exported to be then transferred to the special walnut fund from which the walnut branch was backed.
The fund was closed, but the duty remained. According to the Economy Ministry, Moldova’s commitments to WTO and under free trade agreement include elimination of the export duties. So, levying duties on the nut export contradicted norms of civilized trade, hampered the development of the nut export and raised its value.
Moldova exports 11,000 to 13,000 tons of nuts a year, which is 2% of the total volume of Moldova’s export. Almost all the nuts from Moldova are exported to the European Union. The ad valorem duty on the nut export, amounting to 1.5%, contributed only 0.056% to the state budget’s revenues. Its elimination will influence the budget little, but will facilitate the nut export.
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