LAW OF THE REPUBLIC OF MOLDOVA

of June 6, 1995 No. 481-XIII

About discharge and the taxation of the physical persons and legal entities which are engaged in business activity and storing the money abroad

For the purpose of increase in currency potential and attraction in national economy of additional resources of foreign currency

The parliament adopts this law.

Art. 1. - Exempt from responsibility for violation of procedure for opening of accounts and storage of money outside the Republic of Moldova, stipulated by the legislation, the physical persons and legal entities which are engaged in business activity which till January 1, 1996 will transfer money from abroad (except for being located abroad on the accounts opened with the permission of National Bank of Moldova) into accounts of authorized banks of the Republic of Moldova.

Art. 2. - Transfer of the specified money and their transfer into accounts of authorized banks of the Republic of Moldova are performed without check of sources and methods of formation of deposits, without specifying of the reasons and their time spent abroad, without taxation, including the income tax (income).

Art. 3. - Determine that:

a) further placement and use of the transferred money is performed according to the legislation;

b) for owners of the money which made their transfer in stipulated in Clause 1 time when closing abroad of the accounts opened without the permission of National Bank of Moldova the following tax benefit is provided: during 1995-1996 income gained from placement of the specified means in foreign currency deposits or in Moldovan lei after converting (sale) of foreign currency in authorized banks of the Republic of Moldova is not assessed with the income tax (income). These means are declared previously in tax authority in the place of assignment of fiscal code;

c) identification since January 1, 1996 of the facts of finding of money of the physical persons and legal entities which are engaged in business activity abroad on the accounts opened without the permission of National Bank of Moldova before entry into force of this law attracts criminal liability with confiscation of contribution according to the legislation.

Art. 4. - This law becomes effective from the date of publication.

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