The chairman of the Party of Socialists (PSRM) Igor Dodon will submit to Parliament a bill with seven proposals for amending the legislation with a view to remedying the situation of farmers. In a news conference on Wednesday, Igor Dodon said the bill was already presented to the parliamentary commission on economy and five AEI MPs are ready to support it, Info-Prim Neo reports. The bill envisions reducing the fiscal pressure on the taxpayers working in the agricultural sector, increasing the agriculture subsidization fund and extending the areas subsidized by the state. If the proposals are accepted, the additional benefits for farmers will total about 430 million lei in 2012, said Igor Dodon. The Socialists suggest halving the tax on farmland. According to Igor Dodon, such a move will enable to support the agricultural producers and owners of farmland with 75 million lei in 2012. They also suggest putting a zero tax on the undistributed income of the economic entities working in agriculture. This method turned out to be the safest one for stimulating the reinvestment of profits. The reintroduction of the income tax of 12% and annulment of all the existent tax concessions, including for the small businesses, does not encourage the starting of new businesses and investment of money in Moldova. Another proposal is to restore the tax concessions on the incomes earned by private individuals from selling farmland. Igor Dodon said that when the weather conditions are unfavorable, the authorities should increase the support provided to agricultural companies by raising the social insurance contribution paid by the state from 6% to 10%. The Socialists also propose canceling the VAT of 8% on agricultural products and fully paying this tax from the budget, increasing the agriculture subsidization fund by 200 million lei and rationalizing the costs for maintaining the administrative apparatus financed from the state budget by reducing the costs for purchasing new furniture for the public authorities, strictly controlling the work trips of civil servants abroad and other measures. The bill will be debated in one of the next sittings of Parliament.