Enterprises in the livestock sector and domestic agri-food processing, regardless of their type of ownership and field of activity, could be exempt from reinvested income tax for a period of 5 years. Deputies voted a project to amend the Fiscal Code, during the Parliamentary meeting from Thursday, December 15.
The authors argue the need for these changes due to the fact that the livestock sector in the Republic of Moldova is in decline due to the considerable reduction of cattle and poultry.
Therefore, it is necessary to stimulate the attraction of investments in the livestock sector and that of the food industry by exempting income tax on the profit reinvested in these fields.
The draft law is to be voted on in the second reading.