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ORDER MINISTRY OF FINANCE OF THE REPUBLIC OF MOLDOVA

of May 20, 2020 No. 66

About approval of the Regulations on procedure for subsidizing of interest rates for the bank and/or non-bank loans under the agreements signed during the period from May 1, 2020 to May 31, 2021

(as amended on 14-04-2021)

According to Art. 7 of the Law No. 60 of April 23, 2020 on organization of some measures of support of business activity and about modification of some regulations (Monitorul Oficial al Republicii Moldova No. 108-109 (7437-7438) of April 25 2020), and also items 12 and 13 of the Order of the Commission on emergency situations of the Republic of Moldova No. 2 of April 8, 2021. PRIKAZYVAYU:

1. Approve Regulations on subsidizing of interest rates for the bank and/or non-bank loans under the agreements signed during the period from May 1, 2020 to May 31, 2021 according to appendix to this order.

2. This order becomes effective from the date of publication in Monitorul Oficial al Republicii Moldova.

Deputy. Prime Minister, Minister of Finance

Sergey Pushkutsa

Appendix

to the Order of the Ministry of Finance of the Republic of Moldova of May 20, 2020 No. 66

Regulations on subsidizing of interest rates on bank and/or non-bank to the credits under the agreements signed during the period from May 1, 2020 to May 31, 2021

I. General provisions

1. This Provision establishes procedure for subsidizing of the interest rates paid till December, 2020 inclusive for the bank and/or non-bank loans under the agreements signed during the period from May 1, 2020 to May 31, 2021 regardless of the term of their expiration. For agricultural producers, victims of natural disasters, subsidy payment is performed for the percent paid since May 1, 2020 till December, 2020 inclusive.

1-1 For the purpose of application of this provision, agricultural producers, victims of natural disasters should be considered the business entities who suffered losses more than 50 percent of agricultural products on the area at least 30 percent of total area of the lands which are in use and/or ownership as a result of the natural disasters taking place in 2020 that is established by the stating acts approved by the Commission on emergency situations.

1-2. This Provision establishes procedure for subsidizing of the interest rates paid till May 1, 2021 inclusive for the credits under the agreements signed during the period from May 1, 2020 to May 31, 2021 regardless of the term of their expiration.

1-3. For the purpose of application of this provision by beneficiaries of subsidizing according to item 12 the companies which in total answer the following conditions are:

a) signed contracts on crediting during the period from May 1, 2020 to May 31, 2021 inclusive;

b) the income declared in tax reports established according to data of the financial reporting for tax period of 2020 below the income gained and declared for financial period of 2019.

2. The right to subsidizing according to this Provision is exercised only in relation to the loan interest rates provided by the banks licensed by National Bank of Moldova according to the legislation and/or the non-bank credit institution registered by the National commission on the financial market in the Register of the authorized non-bank credit institutions.

3. Are not subject to subsidizing according to this Provision:

- the commission payments and payments levied by banks and/or non-bank organizations for consideration of the case for provision, for servicing of the credit, and also payments, other than interest rates.

- loan interest rates which are subject of the support provided by intervention and payments Agency in the field of agricultural industry within submeasure "Stimulation of crediting of agricultural producers by commercial banks and non-bank financial institutions".

4. The right to subsidizing according to this Provision is not caused by appointment and procedure for use of the credit.

5. The size of the provided monthly subsidy, is equal to the amount of the monthly interests paid on the loans granted during action of the Program of subsidizing of interest rates determined according to Item 20 of this provision.

6. The amount of the subsidies received according to this Provision is income source, the free income tax.

7. The maximum size of the annual nominal interest rate which is subject to subsidizing constitutes % 8,76 in national currency and 4,40 of % in foreign currency.

8. The maximum amount of the credits/credits concerning which the right to subsidy can be exercised according to this Provision is equal to the total amount of payments for the compensation declared by beneficiaries in the State Tax Administration:

- in case of requesting of subsidy for the periods to July, 2020 - for December, 2019, January, 2020 and February, 2020;

- in case of requesting of subsidy for the periods since July, 2020 - for September, 2019 - February, 2020

 - in case of subsidy request for the periods January - May, 2021 - for the periods September, 2019 - February, 2020.

9. For the purpose of application of this provision, the total amount of payments for compensation specified in the item 8, constitutes:

a) for the companies, except those which perform activities in the field of taxi motor transportation transportations of passengers, specified in Art. 88-1 of the Tax code, and except residents of the information and technological parks specified in Art. 368 of the Tax code - the total amount of the payments for compensation which are subject to reflection by code 11 gr.4 and to code 12 gr.4 tables No. 1 of the Report on income tax withholding, fees of compulsory medical insurance and assessed contributions of compulsory national social insurance (The IPC18) form, the Ministry of Finance No. 126 approved by the Order of the October 4, 2017 provided for September, 2019 - February, 2020;

b) for the companies which perform activities in the field of taxi motor transportation transportations of passengers, specified in Art. 88-1 of the Tax code, and the residents of information and technological parks specified in Art. 368 of the Tax code - the total amount of payments for compensation for September, 2019 - February, 2020 based on the Declaration under own responsibility.

II. Procedure for filing of application on payment of subsidies

10. The request for payment of subsidies is performed based on the statement, according to the form established in appendix No. 1 (in further - the Statement), given to Head department of tax administration in the place of servicing or to Head department of administration of large taxpayers of the State Tax Administration. The application is submitted on paper according to the established form in appendix No. 2 to the Provision or goes to electronic mailbox, using the digital signature, in the place of servicing.

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