Tax of 3% is noxious from viewpoint of fiscal discipline, opinion

The tax of 3% stipulated in the package of tax initiatives, which is much lower than the standard tax, is noxious from the viewpoint of fiscal discipline. This is a negative lesson for those who obey the law. The issue was developed in the talk show “Black box” on TV8 channel, IPN reports.

Igor Munteanu, director of the Institute for Development and Social Initiative “Viitorul”, said the noxiousness of this part of the law, which shows that money earned from unclear sources is recognized and legalized, resides in the fact that it demotivates tax payers. A very negative lesson is given to those who respect the law. During three years of the launch of the investigation into the banking frauds, an unorthodox formula was found for bringing back a part of the stolen funds at a symbolic tax and in a year probably someone will say that the US$ 1 billion entered Moldova. “We didn’t find those involved in the theft and didn’t discover the organized crime behind the banking frauds and we probably give an example of impunity to the whole world and this is the most serious thing in a state with the rule of law,” stated Igor Munteanu.

Economic expert Sergiu Gaibu said by fiscal amnesty the state gives up tracing the stolen funds and collecting a real tax for them. In such regimes where the costs are much lower than the normal tax, they usually apply penalty and interest concessions to ease the burden of business entities. “These are the best practices of bringing back the money into the country, by repatriation. In practical terms, 3% in Moldova is a negative effect that massively discourages the honest people. Such a tax, which is much lower than the standard tax, is noxious from the viewpoint of fiscal discipline,” he stated.

Director of the Resource Center for Human Rights Sergiu Ostaf said Moldova in 2007-2008 applied a similar fiscal amnesty system and a rise of almost US$300 million in foreign investment was recorded in 2007 and of another US$ 200 million in 2008. There is a report on the origin of these investments showing that almost half of these sums came from areas with so-called fiscal paradises. “Now we can project this conclusion onto the conclusions concerning the current situation to a particular extent,” he noted.

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