Society Top News

Farmers’ VAT refund scheme to be extended

The number of farmers eligible for VAT refund will increase under a draft amendment approved by Parliament in the first reading.

According to the bill’s sponsors, a group of PAS lawmakers, the number of beneficiaries will increase after replacing the year 2021 with 2022 in terms of the amount of value added tax accumulated in the account that can be used by agricultural producers to pay contributions to the national public budget.

Also, the bill proposes a reduction from 95% to 75% of the value of agricultural activities in the turnover of the eligible beneficiary. This reduction is explained with the fact that a significant part of farmers provide services to other farmers (cultivation, plowing, sowing services, etc.), which effectively excludes them from the VAT refund scheme.

The bill is to be examined in the final reading before becoming a law.

Related posts

Veaceslav Platon: I live on my savings; I have US$60m


UNHCR and U.S. Embassy donate vehicles to General Police Inspectorate

AlbasatTV, Nisporeni

Maia Sandu: Today, as every morning, I woke up with good thoughts


Leave a Comment