● MONDAY, March 25
March 25 is last day for submitting tax returns for entrepreneurs and professionals
The deadline for submitting tax returns and paying the income tax by persons carrying out entrepreneurial activities and taxpayers carrying out professional activities expires on Monday, March 25, IPN reports, quoting the State Tax Service.
Moldexpo to host “Moldconstruct” and “Moldenergy" exhibitions March 28-31
Two thematic exhibitions,”Moldconstruct” and “Moldenergy”, will be staged at Moldexpo Center during March 28-31. According to Moldexpo head Zinaida Popa, more than 110 participants have registered to take part and exhibit their possibilities in the fields of construction and renewable energy. Zinaida Popa noted that the two exhibitions offer a platform where everyone can display all their services and materials to build a European Moldova. The purpose of “Moldenergy” is to efficiently harness the energy resources, solar, wind and biogas energy resources, application of energy conservation technology, etc.
TUESDAY, March 26
Natalia Gavrilița: In a country where there is no fair justice, it is hard to attract investors
In a country where there is no fair justice, it is hard to attract foreign investors, said former Prime Minister Natalia Gavrilița, a member of the Supervisory Board of the National Bank of Moldova. According to her, although the authorities have a tax policy beneficial to investments, large companies avoid starting businesses in Moldova due to the instability generated by the war in Ukraine, but political stability and the justice sector reform are important for attracting large investors.
Chisinau International Airport extends tendering period
The Chisinau International Airport extended the public tendering for the lease of unused assets for Travel Retail & Food and Beverages. Applications to participate can be submitted until April 15. Such a decision was taken because only one company applied to take part in the previous tender contest.
CES extends period during which grain can be imported only with Agriculture Ministry’s permission
The import of wheat, corn and sunflower seeds into Moldova will continue to be allowed based on a license issued by the Ministry of Agriculture and Food Industry. A decision to this effect was approved by the Commission for Emergency Situations (CES).
Minimum guaranteed monthly income to be indexed by 4.2%
The Cabinet approved the indexation of the minimum guaranteed monthly income by 4.2%, taking into account the inflation rate at the end of the previous year. Thus, after indexation, the minimum guaranteed monthly income will be 1,634 lei for an adult and 1,700 lei for a child.
● WEDNESDAY, March 27
Inflation decreased by 30% after dependence on Russian gas was diminished, NBM governor
The Republic of Moldova saw a decline in inflation from 34% to 4% during a year and a half. The governor of the National Bank of Moldova (NBM) Anca Dragu said the purchasing power recovered mainly as a result of the strengthening of the country’s energy security and independence.
Romania’s Premier: Capital market is an essential pillar of economic interconnection with Moldova
The capital market is an essential pillar of the economic interconnection between the Republic of Moldova and Romania. There is the energy area, where this interconnection is already operating with major intensity and which has proven really vital for the Republic of Moldova in the last year, the Prime Minister of Romania Marcel Ciolacu stated during the second edition of the Moldova-Romania Forum: Capital Bridges. “Through everything we do, we want to help Moldova take big and sure steps to get closer to the European Union,” stated the Romanian official.
● THURSDAY, March 28
Moldova, with natural gas stored in Ukraine
After the recent attack with drones and Kinjal missiles on gas storage infrastructure in western Ukraine, which is used not only by Moldova, but also by a number of EU countries, Bloomberg wrote, with reference to officials of Ukrtransgaz, that it’s still safe to store the fuel in the country’s vast underground facilities.
Parliament ratifies Free Trade Agreement with Iceland, Liechtenstein, Norway, and Switzerland
The MPs ratified the Free Trade Agreement with Iceland, the Principality of Liechtenstein, the Kingdom of Norway and the Swiss Confederation (EFTA). According to the Ministry of Economic Development and Digitalization, the document aims to strengthen economic cooperation between states and expand trade.
Moldconstruct and Moldenergy exhibitions open at Moldexpo
The latest construction technologies, equipment and materials as well as the most innovative energy conservation, thermal and air conditioning equipment are presented at the international exhibitions Moldconstruct, the 26th edition, and Moldenergy, the 25th edition. The events, which brough together over 130 participants, will run during March 28-31 at Moldexpo.
● FRIDAY, March 29
Premier Recean to entrepreneurs from Gagauzia: You are Government’s partners in development of country and creation of jobs at home
The businesspeople, including those from the Administrative Territorial Unit of Gagauzia, are the main partners of the Government in the economic development of the country and creation of jobs at home, Prime Minister Dorin Recean said, addressing a group of entrepreneurs from Gagauzia in a meeting with them, organized by the Next Gagauz Businessmen’s Association in partnership with the European Business Association (EBA). The event held in Congaz commune centered on the Government’s support for businesspeople across the country, solutions to the obstacles they face and reforms oriented towards economic growth.
Clarification about use of personal exemption for 2023 by individuals
Each taxpayer-resident individual who has an annual taxable income lower than 360,000 lei, except for particular incomes, is entitled to an annual personal exemption. Exemptions shall be granted either at the main job or at the secondary job. According to the State Tax Service, the taxable income is determined from the gross income rearned by the taxpayer from all sources during a particular fiscal period. If the taxpayer during the fiscal period obtained a taxable income amounting to 360,000 lei and more, the personal exemption cannot be used.
Building of 400 kV Vulcanesti-Chisinau overhead power line underway
The works to build the 400 kV Vulcanesti-Chisinau overhead power line were launched on Monday in Congaz, ATU Gagauzia. The power line will cross eight districts, on a distance of 158 kilometers, and will be completed in 2025. Work is also underway on the following three interconnection lines with Romania and Ukraine: Balti-Suceava, Straseni-Gutinas and Vulcanesti-Arciz, in Odessa region.
Increasing number of people choose not to withdraw cash from cards and make cashless payments
More and more people choose not to withdraw cash from their cards, as they did a few years ago, and opt for cashless payments. This shows that confidence in the banking system has grown among the population. Most of the cardholders are young people, people with higher incomes and who are from cities. The data were presented at a press club meeting organized by the Independent Think Tank “Expert-Grup” in partnership with the National Bank of Moldova.
Disposable income nears 5,000 lei per person
Last year, the average disposable income per person was 4915.6 lei a month, 15.6% up from the previous year. Adjusted to inflation, the increase was 1.9%. Salary earnings represent the most important source of individual income, or 52.5% of the total, increasing by 1.8 points compared to 2022, the National Bureau of Statistics reported.
● SATURDAY, March 30
Moldova’s gross external debt up 9%
Moldova’s gross external debt increased by 9.1% compared to the end of 2022 to US$10.465.65 billion on December 31, 2023. The ratio of the gross external debt to the GDP was 63.3%, by 2.8 percentage points lower than on December 31, 2022, IPN reports, with reference to preliminary data presented by the National Bank of Moldova.
Conditions under which individuals can sell products or services in own name
People who create objects manually, manufacture production or provide services and sell them, in their own name, in order to ensure a permanent source of income must register under one of the legal forms of organization, such as individual entrepreneur. These people must have a cash register and pay taxes. If they don’t do so, they are liable to fines.
