Agricultural producers will benefit from the refund of the land tax for 2024 from the accumulated VAT. Parliament gave a final reading to a draft law that provides for this. According to the initiative, the refund will be paid by June 2026 inclusive, IPN reports.
The legislative initiative was developed by PAS MP Alexandr Trubca, chairman of the agriculture and food industry committee. The author noted that the law will improve the situation in the agricultural sector, following the decapitalization of farmers as a result of the multiple crises that affected the sector in recent years, such as the logistics crisis, the fertilizer crisis, the drought last summer.
Thus, in order to remedy the difficult situation faced by farmers, the draft law proposes to extend the basis for calculating the amount that is to be refunded with the amount of the land tax for 2024 so that this could be refunded from the VAT accumulated in the farmers' account.
The bill also provides for the modification of the deadline for the implementation of the VAT refund program for agricultural producers. Thus, the refund will be paid by June 2026 inclusive.
The draft law will enter into force on the date of publication in the Official Gazette.
