The state will refund the Value Added Tax to agricultural producers for paying overdue taxes. A bill to this effect was given a first reading by Parliament, IPN reports.
The VAT Refund Program covers business entities working in agriculture, which sustained losses of over 50% of the agricultural production due to natural disasters experienced in 2022. The VAT will be refunded based on applications submitted to the State Tax Service. The payments for April 2022 – June 2023 inclusive will be made within 25 workdays of the submission of the application.
The bill is designed to alleviate the negative impact on business entities operating in agriculture and the foods industry made by natural disasters, higher input prices, disruption of logistics chains following Russia’s war in Ukraine, the ban imposed by Russia on the import of Moldovan vegetal products.
Bill author, Alexandr Trubca, who heads the commission on agriculture and food industry, explained that the legislative proposal provides for the launch of the VAT Refund Program for the taxpayers to be able to clear their overdue taxes owed to the state.
The bill is to be given a final reading.
