Over 320,000 Molovans submitted income tax returns accounting for their 2018 earnings, announced the State Fiscal Service. This is by roughly 110,000 more than last year.
Individuals, i.e. non-entrepreneurs, earned a combined 59 billion lei, paying 4 billion lei in income tax. Individual income rose by 11%, from 44,000 lei to 49,000 lei on average.
The State Fiscal Service explains the increased number of returns on the introduction of a flat income tax of 12% on 1 October 2018.
Of the total number of individual taxpayers who submitted returns, only 36,000 redirected 2% of their income tax amounts, or slightly more than 8 million lei, to an NGO or church. This, however, was by 47% more than last year.
Corporate income tax returns also increased, by almost a third, to 148,000. Companies earned an aggregate 382 billion lei and reported 357 billion lei in expenses. Compared to 2017, incomes rose by 14 billion lei and expenses by 15 billion lei. The largest contributor of corporate income tax was the trade sector (49.1%), followed by the processing industry (16.1%). The financial services and insurance sector accounted for 13.2%, and the ICT sector for 8.4% of the total.
