Tiraspol, 10 February. /Novosti Pridnestrovya/. Following the results of 2015, the light industry enterprises making their production of the customer-supplied raw materials and also the enterprises of all industrial sectors created in 2015 won't be charged with the tax on losses. The MPs passed the Government's amendments to the Enterprise Income Tax Law in two readings in a row.
It's important to remind that following the results of 2015 the industrial companies with 70%-revenue from sales of own production were exempted from tax on losses (recalculation of taxable base due to the 5% rate of return) earlier.
As the head of the Economic Development Ministry Alevtina Slinchenko noted, the light industry enterprises making production of the customer-supplied raw materials, are officially treated as the service sector organisations. Generally, the applied amendments concern garment and shoe factories making 70% of profits from own production sales (taking into account the raw materials supplied by the customer).
Following the results of 2015, the tax on losses is also abolished for the enterprises of all industrial sectors which were created last year. When they enter the market, they incur heavy start-up expenses: enterprise opening, obtaining necessary permits, licenses and so on. he most part of such enterprises doesn't manage to make profit covering the start-up expenses in the first year of work.
Abolishment of the tax on losses was initiated to support the enterprises in the view of economic recession. Amendments to the Enterprise Income Tax Law were submitted at the initiative of the President Yevgeny Shevchuk due to the falling demand in foreign markets; 131 enterprises of the republic closed in red in the first half of the last year. This issue was discussed in the middle of December, 2015 at the session of the Government, and then the bill was considered and passed by the MPs in two readings in a row.
