The customs duty on the import of raw materials for industrial goods will be reduced

Ministry of Economy supports the initiative size reduction to 1% duty on some raw materials used in manufacturing companies. In a press release issued by the ministry, stated that this-initiative aims to provide a favorable investment climate in Moldova and the working conditions for business-friendly, forward IPN.

The communiqué also said that legislative changes are made, since 1 January 2016 expired the regime of autonomous trade preferences offered to Moldova by the European Union and throughout the country, including Transnistria, entered into force new free trade regime, comprehensive and depth of Moldova and the EU. Unlike the previous regime, the new trade regime prohibits the use of fiscal rules drawback, which provide full or partial refund of import duties levied on goods after processing on the customs territory must be re-exported as processed goods.

Ministry of Economy stated that from 1 January 2016, most of the companies operating in Moldova under the drawback system, will pay duties on imported raw material, even if it will not be destined for domestic consumption and as component of goods exported.

So as not to block the activity and their expansion plans, but also to mitigate the effect of prohibiting drawback rules were drafted amendments to the Law approving the combined nomenclature of goods, providing for a reduction of 5%, 6.5% , 8%, 10% to 1% of the size of tariffs on some materials used as additional finished goods produced by companies in the process industry.

Meanwhile, the Ministry of Economy involved in discussions with European authorities for the cancellation clause of Protocol II, art. Pan-European Convention 14, which prohibits the use of fiscal rules drawback.

Source: www.ipn.md

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