The legislative body Thursday adopted the 2012budgetary-fiscal policy in the first reading. The bill was passed by the votes of 54 lawmakers of the ruling alliance. The PL and PDM said they will put forward a number of amendments in the second reading, Info-Prim Neo reports. The amendment that caused most of the discussions refer to the taxation based on indirect assessment of incomes. The mechanism will be imposed on the persons who earned over 1 million lei or with expenses that exceed 300,000 lei over a fiscal year. The tax will be levied not only from salary, but also from other property obtained during a year – cars, houses, shares. The taxable income will be assessed by analyzing the fiscal situation of the private individuals, using information from a wide range of sources. Minister of Finance Veaceslav Negruta said that the main amendments of the budgetary-fiscal policy concern the size of the annual personal exemptions and exemptions for maintained persons, the inflation rate projected for 2012 and the reintroduction of the income tax for economic entities of 12%. The small businesses that will not reach the ceiling of 100,000 lei for voluntarily registering as VAT taxpayer or the obligatory ceiling of 600,000 lei will pay a common tax of 4% of the incomes earned from operational activity. They can also choose to pay a tax of 12% under the general taxation system. The reduced VAT rate of 8% on beet sugar will be maintained. The excise duties on wine from fresh grapes will be annulled, while the excises on vehicles will be increased. The excises on oil products and their derivates will be adjusted to the inflation rate projected for 2012. An important element is the implementation of the next stage of the new system for taxing residential homes, according to their market values. The tax rates for the apartments and private houses located in the municipalities of Chisinau and Balti will oscillate between 0.05% and 0.35% of the property’s value. The Liberal leader Mihai Ghimpu said the Liberals supported the bill in first reading as a conception, but will propose amendments in the second reading, including as regards indirect taxation. He also said that the taxation of persons who lost the husband/wife in the military conflict of the Nistru, the persons who raise four children and more and those on a salary lower than 1 500 lei should be excluded. The Communist Party head Vladimir Voronin said the bill is antistatal, antihuman and will not contribute to the country’s development. “It promotes the interests of certain groups, oligarchs and criminals. There are two many taxes,” he stated. The law is to be adopted in the second reading next week.