Since the beginning of the new fiscal year

The President Vadim Krasnoselsky signed a series of laws adopted by deputy corps at the end of the first autumn month.

This is, first of all, a package of 10 laws reforming the system of taxation of individual entrepreneurs. The deputy corps, by introducing three tax regimes, led to equality in the tax burden on the business, regardless of the form in which it was run. One of the basic principles of the laws that have expanded to the legal basis of the Pridnestrovian Moldavian Republic are also social guarantees for all business entities in the form of payment of three social taxes.

Amendments in the norms of the law “On Personal Income Tax” adopted by parliamentarians will come into effect in the new year after the signing by the President. One of them concerns the specification of the concept of tax resident in order to realize the rights of individuals to receive tax preferences provided for by this law. The tax residents of the PMR will include individuals who are actually in the territory of the republic, as well as those who are in the territory of the Pridnestrovian Moldavian Republic continuously for at least 183 calendar days a year.

January 1, 2019 is the date of entry into force of the law “On Amending the Law  “On Fixed Agricultural Tax”. The new legislative act adopted by the Supreme Council in September establishes that the tax is paid monthly until the 20th of the following month in the amount of one third of the tax amount determined for each quarter of the annual tax amount. It was determined in the first three quarters of 10%, in the fourth - 70%.

Parliamentarians supported amendments to the law “On licensing certain types of activities” initiated by the President Vadim Krasnoselsky, by adopting an appropriate law. The document has already been signed by the President and will take effect from January next year. The main thing that is determined by law is that the term of a license is determined by the applicant himself: for 5, 10 years or indefinitely. The license validity period shall not be less than five years. Upon its completion, it may be renewed at the request of the licensee. If during the validity period of the license violations of licensing requirements and conditions at the end of its validity period are fixed, the extension may be denied.

The law “On Amendment to the Law “On Additional Measures Aimed at Stabilizing the Economy of the PMR”, signed by the President, came into force on October 1 of this year. Its essence is in obtaining by the economic agents of the country long-term (up to five years) loans in foreign currency at low interest rates for the development of its own production base. This became possible due to the fact that the state will subsidize 7% of the total loan rate. The law applies to the priority sectors of the economy determined by the Supreme Council. The decision to apply the terms of concessional lending in relation to applications for credit received by credit organizations is taken by the Supervisory Board of the PMR State Reserve Fund.