Consultative Council with Ministry of Economy against introduction of common tax

The proposals to introduce the common tax and increase the VAT from 8% to 20% on sugar can have a significant impact on entrepreneurs, considers the Consultative Council with the Ministry of Economy that came together for the third meeting, Info-Prim Neo reports. According to a communiqué from the Ministry, the Council backed the proposal to introduce the municipalities of Chisinau and Balti in Article 101 of the Tax Code so that they are refunded the VAT on capital investment. The Council also accepted the proposals to exempt the imported raw material and articles used to make goods for export from VAT and customs duties and the imported new equipment from VAT, to optimize the VAT refunding mechanism, to implement the international practices of reporting fiscal losses of 5 years, to stimulate local industrial production and promote exports. The Consultative Council works on a partnership basis and ensures the participation of the private sector and civil society in the formulation, implementation, monitoring, assessment and revision of the policies promoted by the Ministry of Economy.