Companies will have the right to deduct, for fiscal purposes, the costs incurred for providing the employees with food and transport. This is provided in the 2014 fiscal and customs policy bill that was proposed for public debates on www.particip.gov.md. Deputy Minister of Finance Victor Barbaneagra said that emphasis in the 2014 fiscal policy is laid on the continuity of the policies that refer to entrepreneurial activities and business development, IPN reports.
The bill provides for the modification of the term of refunding VAT for capital investments from three fiscal periods to 45 days. It is proposed annulling the exemption from VAT for services and possessions of enterprises undergoing legal restructuring, bankruptcy and liquidation procedures. The Ministry of Finance explains that the current exemption does not facilitate the activity of companies that are in the process of insolvability. It only hampers their administration.
The fixed exercise duties will be increased by adjusting them to the inflation rate forecast for 2014 (4.3%). By this fiscal policy measure, the Ministry aims to prevent the fiscal incomes from being affected by the inflation.
The Ministry also expects that the adjustment of the excise rates on oil products to the annual GDP growth (9.3%) will lead to a rise of 168 million lei in the budget revenues. The excise duties on tobacco products will be gradually adjusted to the level in the region. The excise duties on vodka and other strong alcoholic beverages will also be increased.
The business community and civil society can submit proposals over the draft fiscal policy by September 27. After the suggestions are generalized, the final bill will be tabled to the Government for approval.
