Chisinau Budget expected to rise by half a billion

Chisinau’s budget for next year will be increased by 26%. According to Deputy Mayor Mihai Furtuna, the biggest revenue will come from the income tax levied on juridical persons, Info-Prim Neo reports. “At this stage, the Finance Division, in cooperation with the municipal subdivisions and suburban town halls, has presented the draft budget for 2012. Obviously, it’s a better looking budget than last year’s due to growth in different areas”, said Mihai Furtuna. The expected income is 2.473 billion lei, which is half a billion more than in 2011. According to Furtuna, the income tax imposed on natural persons will bring over 1 billion lei to the budget. There has also been foreseen additional income from the real estate and road taxes. “The figures are improving, thanks to the reinstatement of the corporate income tax. It will be a new step for the municipal budget of Chisinau”, said Furtuna, referring to the government’s project of fiscal and budgetary policies. The measure provides the annulment of zero taxation rate applied to businesses whose income is reinvested, and is yet to be approved by the Parliament. The Deputy Mayor added that the next year’s expenses will increase as well. These are predicted at 2.568 billion lei, in comparison to last year’s 2.310 billion lei. Just like this year, the municipal budget will cover 80% of the suburbs’ budget. The draft Budget is to be examined by the Chisinau Municipal Council.