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Posted by: Rusica Viorica

News / Economic

05 Dec. 2019 / 13:23

More financial freedom for local public authorities

The personal income tax will remain 100% in the village budgets and 50% in the town budgets. These are the provisions of the Law on local public finances, voted today in the first reading of the Parliament, reports Moldova 1 TV.

Also today, the MPs voted an alternative draft for the modification of the Law on local public finances. It provides that the deductions in the local budgets from the income tax of the natural persons will be carried out based on place of residence. Another provision is the allocation of 50% of the revenues collected from the income tax of legal entities as deductions for local budgets.

The projects aim to strengthen the financial autonomy of the local public authorities by increasing the revenues in their budgets.

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