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Measures for drought-stricken farmers take effect


https://www.ipn.md/en/measures-for-drought-stricken-farmers-take-effect-7966_1076356.html

The measures adopted to help farmers cope with the consequences of the ongoing drought and other natural disasters have taken effect following their publishing in the Official Gazette.

The Ministry of Finance said in a press release the refundable amount of VAT has been increased, and for receiving the refund the condition that all salary taxes be paid has been removed. Additionally, the Fiscal Service will have to execute the refund within 15 days instead of 25.

The Government will also subsidize the interest on farmers’ loans, in particular the interests payments from 1 May 2020 to 31 December 2020 included.

Further, a moratorium has been instituted on fiscal control until 31 December 2020. Exceptions include checks of tax refunds and checks to clarify the amounts owed to the government in case of insolvency or liquidation.

For the purpose of the measures, farmers affected by natural disasters are defined as entrepreneurs who lost over 50% of their estimated agricultural output on a minimum 30% of the total area of the land owned or in use as a result of natural disasters occurred in 2020, as determined by the relevant Emergencies Commissions.

Applications for VAT refunds and interest subsidies can be submitted beginning on today.