The project of budgetary-fiscal and tax administration policy for the period 2018-2020 was discussed during a meeting with the Ministry of Finance. At the discussions participated representatives of the State Chancellery, Ministry of Economy, Chisinau City Hall, CLAM, NTUCM. From the side of NCEM meeting was attended by Leonid Cerescu, president of the MCEM and Viorel Girbu, consultant in economy.
Fiscal policy was developed by the Ministry of Finance based on some macroeconomic estimates that foresee a growth of GIP in an average of 4% per year during the target period, of the consumer price indices – 5%, exports 6-7% annual average, imports 5%. The increase in the nominal wage is estimated to a smaller extent than above indicators, in an average of 3.3% and the investments in physical assets on long term will grow on average by about 6% annually.
The tax policy document does not contain an increase of the level of taxes currently applied in Moldova, however document’s authors propose alignment at the average measures applied in EU states to the level of excise duty on fuel imported in Moldova. Referring to this topic, representatives of the NCEM mentioned the negative influence of such practices, applied for a period of time in Moldova, on business environment and proposed to correlate the graphic of gradual increase of the level of excise duties with a degree of closeness of GDP per capita in Moldova to the similar indicator in EU states.
Additionally there have been discussed the proposals of fiscal policy adjustment developed by the NCEM. Among these we can mention: correlation of tax exemptions on income for physical persons with the minimum guaranteed income approved by the Government, VAT taxation of new vehicles sold in country, changing the tax enforcement paradigm through focusing them on the criteria of access to the public infrastructure, transfer of the incomes from applying the corporate income tax of legal entities in the category of income of the local public authorities to strengthening their dialogue with the national business environment, changing the paradigm in application of mandatory state social insurance contributions through establishment of new ways of paying the mandatory state social insurance contributions and through equalizing fiscal pressure between employee and employer.
Full list of proposals to the document of fiscal policy can be found by accessing the following link: http://cnpm.md/doc.php?l=ro&idc=58&id=489
The written comments on the submitted proposals during the hearing will be offered by the Ministry of Finance in the upcoming period. These will be published on the webpage of the NCEM as they will be developed and handed over by the MF.
