VIDEO // Lower taxes for parents paying for children's education in Moldova
Parents who pay for their children's education will be able to reduce their taxable income by the amount spent, but no more than 16,100 lei. To benefit from this facility, parents will need to submit their income tax declaration and attach documents proving the payments. The deputy head of the parliamentary commission for economy, budget and finance, Victoria Belous, has made statements to this effect.
“Starting from this year, if you have spent money on your children's education, you can reduce your income tax that you have to pay to the state. Thus, if you have paid for your children's education at kindergarten, school, university, vocational school, music, arts, or sports school, you have the right to reduce your taxable income by the amount spent, but no more than 16,100 lei,” said Victoria Belous.
To take advantage of this opportunity, parents must keep the contract, invoice or document proving the payment, submit the income tax declaration and reflect these expenses in the submitted declaration.
“In this way, you reduce your income tax that you have to pay to the state. It's important to submit the income tax declaration and check if the state has to refund some of the taxes you paid during the year,” emphasized Victoria Belous.
The income tax declaration can be submitted online or on paper at the tax office.
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