Taxes

Updated tax legislation for 2025: Important changes for legal entities and individuals

Starting from January 1, 2025, new changes in tax legislation will come into effect in the Republic of Moldova. These changes are aimed at improving the transparency and efficiency of financial accounting and tax operations.

What exactly has changed, and how will it impact your company – read on.

1.Changes in the amounts of bad debts

Now, debts of up to 2000 lei, whose statute of limitations has expired, can be written off in tax accounting.

Previously, this amount was set at 1000 lei.

2.Deadlines for document submission

During a tax audit, companies now have up to one working day after the completion of operational control to provide all the necessary documents.

Previously, documents had to be submitted immediately upon first request.

3.Restrictions on employee gifts

Now, employers can provide gifts (including vouchers) to their employees worth no more than 10% of the average monthly salary in the economy. However, categories such as employees' minor children and gifts for special occasions (e.g., birthdays) are excluded.

4.Sale of vehicles

Income from the sale of a vehicle owned for at least 3 years is now exempt from taxation.

Previously, only the sale of primary residences was tax-exempt.

5.Expansion of tax deductions and benefits for companies

Companies are now able to deduct expenses for compensating childcare services for employees' children up to the age of 3 without a maximum limit.

Previously, this limit was set at 5% of the payroll fund.

FlagMAN-D provides tax advisory services, helping your business effectively adapt to these changes. Our specialists are ready to offer solutions for revising tax procedures and optimizing business processes, so you can move forward with confidence.

How to prepare?

It is important to study the new regulations in advance and adjust your approaches to managing the financial and HR aspects of your business. Consulting with professional accountants and tax advisors will help ensure compliance with the new rules.

Thus, to successfully adapt to the new legislative requirements, it is necessary to carefully review the changes and adjust the company’s internal procedures accordingly.

We have prepared a comprehensive document with a detailed list of all the changes in tax legislation coming into effect on January 1, 2025
+ bonus: Changes to the secondment rules 2024.

FlagMAN-D

2024-12-05 14:00