Moldova Sets Out Tax Reform Plans
June 2023Moldova's Ministry of Finance has launched a consultation on tax reforms plans, including a proposal to harmonize the individual income tax rates on investment income.
Currently, there are two tax rates on investment and financial income, 7% on interest from bank deposits, and a 12% on interest or capital gains from state securities.
The Government has proposed establishing instead a single 6% rate.
Moldova Tax Rates 2013
June 2013The Moldova corporate income tax rate for 2013 is 12%.
Small companies can pay instead, subject to terms, 3% on their turnover.
Individuals pay 7% tax up to annual income of MDL 26,700 and 18% for income above the ceiling.
Social security rates are 26.5% for employers, 23% social insurance and 3.5% health insurance.
Employees pay a total of 9.5%, 6% social insurance and 3.5% health insurance.
The standard V.A.T. rate in Moldova is 20%. There is also a reduced V.A.T. rate of 8%.
Moldova Tax on Reinvested Profits
November 2009The Moldovan government plans to impose a 10% tax on reinvested profits.
Currently reinvested profits are tax exempt.
The plan is strongly opposed by Moldovan producers, claiming that reinvesting profits in new advanced technologies is a must in order to compete the global crisis.
The government also plans to increase excise duties on tobacco, petrol and luxury cars by 20%, in order to access a three year financing of $ 590m by the International Monetary Fund, IMF.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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