Approved by the Ministry of Finance of the Republic of Moldova of September 3, 2002 No. 04

Approved by the Ministry of Economics of the Republic of Moldova of October 2, 2002

Regulations on procedure for the conclusion, action and agreement cancelation on exemption of the income tax of subjects of small business and peasant farms

I. General provisions

1. Regulations on procedure for the conclusion, action and agreement cancelation on exemption of the income tax of subjects of small business and peasant farms (daleepolozheniye) are developed according to provisions of parts (3) - (9) Art. 49 of the Tax code N1163-XIII of April 24, 1997 taking into account the subsequent amendments and changes.

2. This Provision extends on:

a) the companies at which the annual average number of workers constitutes from 1 to 19 persons and the annual amount of net sales of own production and/or rendering services up to 3 000 000 lei (further - subjects of small business), except for peasant farms;

b) peasant farms - irrespective of the annual average number of workers, the annual amount of net sales of own production and/or rendering services, and also other conditions provided in this Provision for subjects of small business.

3. This Provision does not extend to subjects of small business to which till January 1, 1998 (date of the introduction in action of I and II Sections of the Tax code) tax benefits and releases were provided according to the legislation and which had the right to use them during the period specified in the credit agreement signed with territorial tax authorities.

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