Moldova: tax amendments enactedSeptember 27, 2012
On 14 September 2012, Law No. 178 of 11 July 2012 amending the tax legislation was published in the Official Gazette No. 190–192.
The provisions of the law will enter into force on 1 January 2013, unless otherwise specified, and generally implements the proposed amendments included in the draft law published by the Ministry of Finance on 27 April 2012 with the following changes:
VAT and customs duties
The VAT and customs duties exemption for fixed assets used as contributions to the owner’s equity of a company will continue to be applicable.
The VAT rate applicable to beet sugar and to natural crop, horticulture production and livestock produced and supplied in the territory of Moldova was increased from 8% to 20%.
The VAT rate applicable to natural and liquefied gases imported and supplied in the territory of Moldova was increased from 6% to 8%.
Electronic register of invoices
According to the amendments approved by the Law 267 of 23 December 2011 (published in the Official Gazette No. 13–14 of 13 January 2012), the electronic register of invoices managed by the Main State Tax Office was created.
Under the amendments, invoices shall be subject to mandatory registration in the register by the supplier within 5 business days from issue (10 business days for suppliers registered with the Main State Tax Office).
In addition, no VAT credit shall be allowed if the invoice was not registered in the register. The amendments apply retroactively from 1 July 2012.
Tax on immovable property
The implementation of the new system for the taxation of immovable property, based on the market value of the property (except for the immovable property located in the municipalities of Chisinau and Balti), will be postponed until 1 January 2014 (instead of 1 January 2013).
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