In brief
The Ministry of Finance of the Republic of Moldova recently approved the Tax return on withholding tax, health insurance contributions and calculated social security contributions (Form IPC18), as well as the instructions for its filing.
In detail
As of 1 January 2018, Taxpayers will report withholding tax, social security contributions and health insurance contributions using a new tax return. Form IPC18 will replace the following tax returns: IRV14, MED08, BASS, REV5 and Form 2-03/l.
The tax return will have to be submitted monthly to the State Tax Service by the twenty-fifth day of the month following the reporting month. The first reporting period using the IPC18 tax return is January 2018. Adjusted tax returns, as well as the primary tax returns presented later for the previous periods (up to December 2017) will be prepared using the forms available for that period.
Residents of IT parks will apply specific rules when completing the IPC18 form. The approval of Form IPC 18 leads to the following essential amendments:
- Income exempted from the preliminary withholding of income tax has to be declared;
- Payments made to the benefit of individuals (with some exceptions) for selling goods through consignment trade will have to be reported separately;
- New codes have been introduced for nonresident taxable income in the form of royalties, interest and capital gains.
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