Economic entities will pay taxes on industrial and commercial property according to market value

The tax rate on the industrial and commercial property for legal entities in 2010 will be 0.1% of their market value, Info-Prim Neo reports. At a roundtable meeting held as part of the “Made in Moldova” exhibition, Anastasia Certan, the head of the Finance Ministry's general fiscal and customs legislation division, said the tax rate last year was also 0.1%, but of the total value of the property. “The local public authorities will not be able to raise or decrease the tax of 0.1% according to the revenues collected into their budgets as the authorities of municipalities and towns do when they tax residential property,” she said. Asked if this tax will rise significantly for the economic entities, Certan said that the studies carried out earlier show the sums paid will remain practically at the same level as in 2009. She added that under the legislation, the market value of the property must be recalculated once in three years, but the prices of real estate in Moldova go up, especially in Chisinau. The garages and plots on which they are located and the lands owned by agricultural associations, with or without constructions on them, will be taxed according to the market value from this year. The coefficients for raising the tax rate on residential property situated in municipalities and towns, which is assessed according to their market value, will be removed.