Minister of Economy of Moldova Introduces Amendments to Fiscal Policy
OREANDA-NEWS. June 27, 2012. According to the Vice-Premier, Minister of Economy of Moldova, his Ministry suggests to introduce a number of amendments to this document and it will be further discussed in parliamentary commission before the draft law is passed.
Last week the Economy Ministry supported the draft law in the government so as not to block its approval but amendments to it will be further discussed in the Parliament, Valeriu Lazar has stated. According to the Minister, there is a difficult situation in the country and a reasonable compromise is to be found to consolidate the fiscal policy under conditions of the regional crises. But this should not be done at the expense of the economic growth.
The Ministry of Economy stressed that the fiscal law has to be subordinated to the economic growth. Instead of restricting favourable regimes and eliminating incentives for investments in the capital stock, measures have to be assumed to spur investing and production, he noted. Otherwise, nothing will be produced and sold by the country, he added. “No investments means no fiscal base", Valeriu Lazar remarked.
According to him, the Ministry has a number of proposals to improve the fiscal policy for 2013 which will be posted on the site of the Ministry. Valeriu Lazar also noted that lots agricultural companies are discontent with the intention of authorities to return the 20% rate of VAT on primary farming goods instead of the reduced one of 8%. The difference between the old and the new rates will be refunded by the state as direct subsidies.
However the companies have issues on the fiscal administration regime. They suggest reducing the term of the refunding and sanctioning delays.