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Daily Tax Report: International

Moldova Tax Agency Posts FAQs on Withholding Taxes for Transportation Equipment Contracts

March 31, 2020, 5:00 AM

The Moldovan State Tax Service March 25 posted online FAQs clarifying income tax withholding requirements for road transport equipment contracts with individuals. The FAQs clarified that: 1) taxes are not withheld for road transport equipment sales by individuals; 2) taxes are not withheld for payments made to individuals by leasing companies under lease-back contracts; 3) a 12 percent withholding tax applies for companies purchasing equipment from individuals and subsequently leasing it to other entities; and 4) a 12 percent withholding tax applies for leasing companies procuring assets from individuals for use by the company. [Moldova, State Tax Service, 03/25/20]

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