OREANDA-NEWS. December 26, 2013. The document provides the increase in the amount of the taxable income, which is subject to 7 percent tax- from 26.7 thousand to 27 thousand 852 lei.

The size of the annual personal exemption will be increased from 9120 to 9516 lei and exemption for dependents - from 2040 to 2124 lei. Besides, private annual exemption for those diseased after Chernobyl accident, the parents or spouses of dead or missing combatants of the Dniester and Afghanistan conflicts which have become disabled as a result of participation in the military actions, war invalids, disabled since the childhood, disabled groups I and II; pensioners - victims of political repressions, subsequently rehabilitated, will be increased from 13560 to 14148 lei.

In 2014, it is provided to increase excise taxes on oil products, cigarettes, alcoholic beverages and cars. Except for the oil products, all categories of excises will rise in line with the inflation projected for the next year (by average 4.3%).

It is also planned to return to 8 per cent rate of VAT on primary agricultural products and sugar instead of the current rate of 20 %. It is also expected to exempt from VAT the imported tractors and other agricultural machinery for the development of agricultural sector by modernizing and upgrading farms. The amendments provide granting the right to deduct from the tax the expenses incurred by the employer to provide catering, transport, and professional training to employees. In addition, it is planned to deduce the depreciation of the fixed assets received free from the taxation base.

It is also envisaged that VAT on the capital investment next year will be returned within 45 days from the filing date. To facilitate the implementation of the investment projects the deadline for VAT payment and customs duties was extended to 180 days from the date of import of raw materials, components, and packaging used for the production of goods for export.

The non-taxable limit of the customs cost of goods imported to Moldova by the citizens without paying import duties (VAT, excise and customs duty) will be increased from 200 to 300 euros.