The Cabinet on March 12 approved the draft fiscal, customs and budgetary policy for 2016. This is aimed at ensuring a stable economic environment that will be favorable for developing businesses and attracting foreign investors and at creating equitable contribution mechanisms for private individuals, IPN reports, quoting the Government’s press service.

In order to support the business environment, the Government suggested increasing the period of reporting losses resulting from entrepreneurial activity from three to seven years. It also reviewed the tax basis for advertising devices.

The measures provided in the draft budgetary policy for 2016, which are aimed at collecting new incomes into the budget, include the introduction of the property tax and adjustment of the excise duties on particular categories of goods to the rate of inflation. Among these are the land tax and the road tax.

The measures mainly derive from the Government’s work program, the National Strategy “Moldova 2020”, the Association Agreement with the EU and other national programs and strategies.

The fiscal, customs and budgetary policy for 2016 is to be debated and adopted by Parliament.