Over 8,000 Moldovans earned more than one million lei last year
A total of 8,019 individuals in the Republic of Moldova earned incomes exceeding one million Moldovan lei each during the past year.
According to data released by the State Tax Service (STS), the highest declared income by an individual exceeded 165 million lei. The youngest millionaire in Moldova is 16 years old, while the oldest is 88.
Of the total individuals earning more than one million lei, 5,560 were men and 2,459 were women.
The State Tax Service reports receiving 98,588 income tax returns in 2024 from individuals engaged in economic activities, and over 206,680 income tax returns from individual taxpayers not involved in entrepreneurial activities.
In 2024, economic agents reported total revenues exceeding 687 billion lei and expenses over 625 billion lei. Compared to 2023, revenues increased by 15.2 billion lei, and expenses rose by 10.4 billion lei.
Regarding individual citizen taxpayers, the total income reported by payers amounted to 129 billion lei last year, earned by 1.57 million individuals, with income tax withheld at source and declared totaling 10.3 billion lei.
The majority of income earned by individual citizens came from salaries — 74.26%, followed by dividends — 12.71%, and income from the transfer of ownership and/or use of real and movable property, excluding agricultural land — 3.05%.
The main sectors of the national economy that reported calculated income tax were: trade; financial activities and insurance; manufacturing industry; production and supply of electricity and heat; transport and storage; real estate transactions; agriculture and forestry; information and communications; and the HoReCa (hotel, restaurant, and catering) sector.
Last year, the Tax Code was amended to include a new article regulating deductions for expenses incurred by individuals. Consequently, 690 individuals benefited from expense deductions totaling 6.4 billion lei. The largest deduction concerned expenses related to the purchase of life insurance premiums under life insurance contracts, amounting to 2.7 million lei.
Translation by Iurie Tataru
