Moldovan government approved draft on supporting entrepreneurship

Chisinau, 17 April /MOLDPRES/- The government at the 17 April meeting has approved and will submit to parliament for consideration a draft law on setting up measures to support the entrepreneurial activity and amending some laws.

Under the draft, to support the employees and the employers in terms of economic effects caused by the epidemiological situation (COVID-19), the Interest subsidy program and VAT refund program are established.

"The amount of the monthly subsidy for beneficiaries is the amount of the monthly interest paid for loans under the interest subsidy program. The maximum amount of the loan or credits for which the subsidy is granted represents the cumulative sum of the salary payments declared by the beneficiaries to the State Tax Service for the months: December 2019, January 2020 and February 2020 (hereinafter the cumulative amount of the salary payments) ”, the document says.

The maximum annual nominal interest rate due to be subsidized is 8.76% in national currency and 4.40% in foreign currency. The payment of the subsidy is made based on the request of the subject of the subsidy submitted to the State Tax Service. The application shall be submitted by the end of the month following that in which the interest is paid.

At the same time, the VAT refund program stipulates reducing up to 15% of this tax for HORECA sector, as well as for several categories of payers and insurers, pointing to the rates and the deadlines for transferring the compulsory state social insurance contributions.

The sources of financing the Fund to support the population are: the portability fee - 50 percent of the monthly payment of operation, administration and maintenance of the centralized database for implementation of the portability of the numbers; airport fee - 50 percent of the monthly amount from the airport modernization tariff; the fee for the provision of mobile telephony services - 2.5 percent of the income from the sales related to these services; d) the transfers from the compulsory supplementary payment of 0.1 percent of the amount paid upon the purchase by private people of foreign currency in cash and travel checks in foreign currency against receipt of cash in exchange offices and licensed banks carrying out foreign exchange activities in cash with private people, including through foreign exchange devices; sponsorships and other revenue that do not contravene legislation.