{"id":235840,"date":"2005-06-09T11:35:00","date_gmt":"2005-06-09T11:35:00","guid":{"rendered":"http:\/\/new.moldova.org\/2005\/06\/09\/high-income-individuals-will-be-taxed-additionally-3115-eng\/"},"modified":"2005-06-09T11:35:00","modified_gmt":"2005-06-09T11:35:00","slug":"high-income-individuals-will-be-taxed-additionally-3115-eng","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/high-income-individuals-will-be-taxed-additionally-3115-eng\/","title":{"rendered":"High-income individuals will be taxed additionally"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p><img decoding=\"async\" src=\"http:\/\/upload.moldova.org\/economie\/2005\/mai\/dolari.jpg\" align=\"left\" alt=\"\" \/>The Government is working out modifications to the legislation in force to establish a mechanism for taxing the extremely high incomes earned by individuals. <\/p>\n<p>At a working meeting on the fiscal policy&rsquo;s long-term objectives, vice minister of Finance Mihai Pop said that it is opportune to establish additional taxing methods in this respect, informs the press service of the Government. <\/p>\n<p>At the same time, according to the budgetary-fiscal policy, in the next years the Government plans to reduce further the income tax rates for legal entities and for individuals with medium and low incomes. <\/p>\n<p>Income tax for legal entities is proposed to be decreased by 3 percentual points in 2006, so that it is equal to 15%. <\/p>\n<p>Mihai Pop specified that it is planned to gradually increase the personal exemptions for individuals at the payment of the income tax. In 2006, the mentioned exemptions will make up 4500 lei compared with 3960 lei this year. Annual exemptions for maintained persons will be increased from 600 lei to 800 lei. <\/p>\n<p>Next year it is envisaged to cut the state social insurance contributions for legal entities. Concomitantly, the regressive system of calculating the contribution will be kept in order to draw in the economic agents. <\/p>\n<p>It is also proposed to annul, from 1 January 2006, the tax concessions established at the payment of the value added tax on the import and delivery to Moldova of mineral fertilizers and pesticides, with the simultaneous implementation of an efficient subsidization system for agricultural producers. <\/p>\n<p>Excises for the sale of a number of goods will be also modified in 2006. <\/p>\n<p>Prime Minister Vasile Tarlev has ordered the drafting of a viable mechanism for supporting the national industry so as to achieve a lasting growth in the field, as well as the perfection of the subsidization system.\/\/REPORTER.MD<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>The Government is working out modifications to the legislation in force to establish a mechanism for taxing the extremely high incomes earned by individuals. At a working meeting on the fiscal policy&rsquo;s long-term objectives, vice minister of Finance Mihai Pop said that it is opportune to establish additional taxing methods in this respect, informs the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-235840","post","type-post","status-publish","format-standard","hentry","category-economy"],"content_social_share":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><p><img decoding=\"async\" src=\"http:\/\/upload.moldova.org\/economie\/2005\/mai\/dolari.jpg\" align=\"left\" alt=\"\" \/>The Government is working out modifications to the legislation in force to establish a mechanism for taxing the extremely high incomes earned by individuals. <\/p>\n<p>At a working meeting on the fiscal policy&rsquo;s long-term objectives, vice minister of Finance Mihai Pop said that it is opportune to establish additional taxing methods in this respect, informs the press service of the Government. <\/p>\n<p>At the same time, according to the budgetary-fiscal policy, in the next years the Government plans to reduce further the income tax rates for legal entities and for individuals with medium and low incomes. <\/p>\n<p>Income tax for legal entities is proposed to be decreased by 3 percentual points in 2006, so that it is equal to 15%. <\/p>\n<p>Mihai Pop specified that it is planned to gradually increase the personal exemptions for individuals at the payment of the income tax. In 2006, the mentioned exemptions will make up 4500 lei compared with 3960 lei this year. Annual exemptions for maintained persons will be increased from 600 lei to 800 lei. <\/p>\n<p>Next year it is envisaged to cut the state social insurance contributions for legal entities. Concomitantly, the regressive system of calculating the contribution will be kept in order to draw in the economic agents. <\/p>\n<p>It is also proposed to annul, from 1 January 2006, the tax concessions established at the payment of the value added tax on the import and delivery to Moldova of mineral fertilizers and pesticides, with the simultaneous implementation of an efficient subsidization system for agricultural producers. <\/p>\n<p>Excises for the sale of a number of goods will be also modified in 2006. <\/p>\n<p>Prime Minister Vasile Tarlev has ordered the drafting of a viable mechanism for supporting the national industry so as to achieve a lasting growth in the field, as well as the perfection of the subsidization system.\/\/REPORTER.MD<\/p>\n<div class='heateorSssClear'><\/div><div  class='heateor_sss_sharing_container heateor_sss_horizontal_sharing' data-heateor-sss-href='https:\/\/www.moldova.org\/en\/high-income-individuals-will-be-taxed-additionally-3115-eng\/' 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