Excise Duties Rate on Oil Products to Increase in Moldova
OREANDA-NEWS. December 11, 2013. The excise duties rate on the imported oil products will increase by 9.3 per cent in 2014. This is provided for in the fiscal and budgetary policy approved by the government.
The draft sees a rise in the rate of excise duties set in fixed amounts by adjusting them to the inflation rate scheduled for 2014. Thus, the excise duties rate on tobacco products will be increase, in order to gradually adjust them to the level of the region’s countries.
In 2014, a low 8-per cent VAT rate will be re-established instead of a 20–per cent standard quota for the primary agricultural production and sugar. At the same time, the import of agricultural equipment will be exempted from the VAT, and the import of worn-out tractors of up to a 20-year-term will be allowed. The non-taxable imported goods’ value will increase from 200 to 300 euros.
Finance Minister Anatol Arapu said that, in terms of tax on the income of private people, the ministry planned to increase the income tax installments and the personal annual exemption, as well as the major personal annual exemption and annual exemption for dependents, by adjusting them to the inflation rate for 2014.
The draft is to be approved by the parliament.