LAW OF THE REPUBLIC OF MOLDOVA

of December 23, 2011 No. 267

About modification and amendments in some legal acts

The Parliament adopts this organic law.

Art. I. - In the Law on entrepreneurship and the companies No. 845-XII of January 3, 1992 (Monitor of Parliament of the Republic of Moldova, 1994, No. 2, of the Art. 33), with subsequent changes, to make the following changes and additions:

1. Add the law with Article 7-1 of the following content:

"Article 7-1. Obligation of installation of POS terminals

1. Since July 1, 2012 business entities whose sales volume from wholesale and/or retail trade and/or from rendering services exceeds 2 million lei within prior calendar year shall establish POS terminals till July 1 of the next year and provide possibility of implementation of payments with their use in divisions (except networks of small retail trade) in which sales volume during the same period exceeded 500000 lei.

2. In departure from Item 1 provisions business entities whose sales volume from wholesale and/or retail trade and/or from rendering services exceeded 2 million lei within prior calendar year shall not establish POS terminals till July 1 of the next year, including in divisions in which during the same period sales volume exceeded 500000 lei if:

- payments were made only in non-cash form, except for made by commercial banks;

- the specified activities are performed in villages (communes) which except for are part of municipiums and the cities.".

2. In Article 10:

state part 4 in the following edition:

"4. For implementation of activities without license or implementation of the activities prohibited in the territory of the Republic of Moldova, and also permited exclusively state companies tax authorities, Licensed chamber or other representative to grant licenses the body impose penalty in the amount of the gross income gained as a result of such activities from realization.";

add Article with part of 5-1 following content:

"5-1. Non-compliance with provisions of article 7-1 of this law attracts imposing of penalty in the amount of 6000 lei for each case. If in 30-day time from the date of imposing of the specified penalty the business entity does not fulfill the requirement of Article 7-1, of it the penalty in the amount of 18000 lei is imposed. Control and application of sanctions are performed by tax authorities.";

state part 6 in the following edition:

"6. The illegal income gained by business entities owing to overestimate of product cost, profitability, the trade allowance, amount of construction works, rates for the rendered services and non-compliance by that with the regulations regulating forming and use of the prices, and also the penalties imposed in the amount of, equal to this income, but at least 10000 lei, are collected in the government budget based on the decision made by the Audit Chamber, Service of financial control and audits subordinated to the Ministry of Finance, or the Center for fight against economic crimes and corruption, by presentation of the collection order in 30-day time from the date of delivery by relevant organ of the made decision.";

add Article with parts 7 and 8 of the following content:

"7. Business entities to whom the Service of financial control and audits applies sanctions according to Item 6 of this Article have the right to 50 percent reduction of the amount of penalty if within three days from the moment of adoption of the resolution on application of the sanction pay completely the amount illegally of the gained income and 50 percent of the amount of penalty.

8. Not Instruction by the managing subject supplier in superimposed/tax delivery note of the delivery price to one unit including the VAT established by business entity - producer of goods, on the goods made in the territory of the country, or the acquisition prices including the VAT for the imported goods in case of delivery of socially important goods which list affirms the Government attracts imposing of penalty in the amount of 10 percent of cost of the transaction with socially important goods, but at least 500 lei for each superimposed/tax delivery note. The managing subject supplier has the right to 50 percent reduction of the amount of the ordered to pay fine if pays penalty within three working days from the date of delivery of the decision concerning violation. The fine which is ordered to pay according to this Item is collected in the government budget by means of the decision made by bodies of the State Tax Administration and Service of financial control and audits subordinated to the Ministry of Finance.".

Art. II. - Article 6 of the Law on the state fee No. 1216-XII of December 3, 1992 (repeated publication: 2004, Art. No. 53-55, 302), with subsequent changes to add the official monitor of the Republic of Moldova with part of the following content:

"Bear responsibility in the amount of the sum which is not granted on the budget for making of actions or issue of the documents having legal value, the bodies without collection of the state fee authorized on that, with imposing of penalty in the amount of 2 percent for each day of failure to pay, but no more than the size of not deposited amount.".

Art. III. - In the Law on road fund No. 720-XIII of February 2, 1996 (repeated publication: The official monitor of the Republic of Moldova, 2010, Art. No. 247-251, 754), with subsequent changes to make the following changes and addition:

1. Item e) parts (Article 2 to declare 1) invalid.

2. Recognize Article 71 invalid.

3. Part (Article 8 to add 1) with the offer: "In case of non-compliance with procedure for calculation, declaring and/or payment of charges in road fund tax authorities apply measures of ensuring repayment, responsibility and forced execution of the tax liabilities according to the Tax code.".

4. Declare appendix 1 invalid.

Art. IV. Voided according to the Law of the Republic of Moldova of 25.07.2014 No. 181

Art. V. - In the Tax code No. 1163-XIII of April 24, 1997 (repeated publication: The official monitor of the Republic of Moldova, special release of February 8, 2007), with subsequent changes to make the following changes and additions:

1. In Article 5:

in Item 4) "structural" to exclude the word;

in the third subparagraph of the subitem and) Item 6) of the word "or in business trip" to exclude;

37) to declare Item invalid;

add Article with Item 39) of the following content:

"39) the Large taxpayer - the taxpayer determined according to the selection criteria of large taxpayers developed by the Main state tax authorities under the Ministry of Finance, and included in the List of the managing subjects - large taxpayers.".

2. In Article 6:

in part (6):

Item n) to declare invalid;

add part with Items o), p), q), r) and s) the following content:

"o) collection from owners of vehicles;

p) collection for the parking;

q) collection for street objects of trade and/or objects for rendering services;

r) collection for export of waste;

s) collection for advertizing devices.";

part (10) after words of "administrative and territorial units". add with the offer: "Depending on property accessory the private tax is paid to the government budget or to the budget of administrative and territorial unit.".

3. In part (5) Article 7 of the word "The Companies, Organizations and the Organizations Having Branches and/or" shall be replaced with words "The taxpayers having" word a "branches and/or" to exclude.

4. In part (2) Article 8:

in Item b) "structural" to exclude the word, and words ". The location information of branches or representations is reported also in tax authority in the place of their stay;" shall be replaced with words ", and also about the temporary termination of activities of divisions;";

in Item c) words" and also to ensure safety of the control tapes issued by them according to the procedure, established by the Government, or to perfrom cash calculations with use of POS terminals;" shall be replaced with words "according to the regulating acts approved by the Government, including the List of types of activity which specifics allow to perfrom cash cash calculations without application of cash registers;".

5. In Article 12:

1) to state Item in the following edition:

"1) the Royalty (periodical payments) - the income including the payments of any kind received as compensation for use or provision of right to use of any copyright and/or the related rights, including to the literary work, art or science including movies and movies or records for television or broadcasting for use or provision of right to use of any patent for the invention, the trademark, the drawing or model, the plan, the computer program, confidential formula or process or for use or provision of right to use of the industrial, commercial or scientific equipment, information concerning industrial, commercial or scientific experience.";

to add Item 4-1) after words of "tax audits" with words ", including";

13) to state Item in the following edition:

"13) Offsetting - the amount withheld and/or previously paid to which the taxpayer has the right to reduce tax amount.".

6. In Article 15:

in Item a) words", except for peasant farms and individual entrepreneurs," shall be replaced with words "and individual entrepreneurs";

in Item b) to replace figure "0" with figures "12";

in Item c) to exclude the words "and individual entrepreneurs", and to replace figure "0" with figure "7".

7. State Article 16 in the following edition:

"Article 16. Tax offsettings

The taxpayer has the right to offsetting of the amount withheld and/or previously paid according to provisions of Chapters 12, of 13, 14 and 15 these Sections, except for Articles 90-1 and 91.".

8. In Article 18:

add Article with Items f), f-1) and f-2) of the following content:

"f) the income connected with not used reserves according to part (16) Article 24 and part (6) Article 31;

f-1) the amount of reduction of discounts for losses on assets and contingent obligations as a result of improvement of their quality within tax year;

f-2) the amount of decrease in the reserves intended for covering of possible losses from non-return of loans and percent accompanying improvement of quality and/or their return within tax year;";

Item m) to declare invalid.

9. Item f) Article 19 to declare invalid.

10. In Article 20:

Item b) after the word "compensations" to add with the words "and lump-sum allowances";

add Article with the Item i-1) of the following content:

"i-1) the property received by orphanages of family type as donation;";

the Items o-1), p-1), v) and z-1) to recognize invalid;

add Article with the Items z-9) and z-10) of the following content:

"z-9) income from revaluation of fixed assets and other assets;

z-10) the dividends paid to physical resident persons for tax periods till January 1, 2008.".

11. In part (2) Article 22 of the word "the corrected cost basis of the replaced property." shall be replaced with words "the cost basis of the replaced property increased by the amount of the incured property purchase costs which is not covered by the income in case of forced loss.".

12. In Article 24:

part (to recognize 5) invalid;

in part (6) words", or for acquisition of fixed assets with service life more than one year" to exclude;

part (to state 10) in the following edition:

"(10) the deduction of not documented regular and necessary expenses incurred by the taxpayer within tax year in the amount of 0,2 of percent of the leviable income Is allowed.";

part (to state 16) in the following edition:

"(16) the deduction of expenses in the amount of 15 percent of sales return in reporting year on audit of the annual financial reporting and/or the consolidated annual financial reporting is allowed to Auditor societies and auditors-individual entrepreneurs, as for forming of the reserves connected with audit risk and on insurance premiums according to the insurance contracts of the professional civil responsibility signed according to the current legislation for insurance of audit risk.";

add Article with part (18) the following content:

"(18) the deduction of the amounts from revaluation of fixed assets and other assets is not allowed.".

13. In Article 25:

to add the name of Article with the words "on the credits and loans";

part (to add 1) after words of "percentage charges" with the words "on the credits and loans";

part (to state 2) in the following edition:

"(2) the Deduction of expenses on percentage charges according to credit agreements by business entities for benefit of physical persons and legal entities (except for financial institutions, the microfinancial organizations and leasing companies), is allowed within weighted average interest rate on the credits issued by banking sector to legal entities for a period of up to 12 months and more than 12 months, by Moldovan lei and in foreign currency. The weighted average interest rate on the credits issued by banking sector to legal entities for a period of up to 12 months and more than 12 months by Moldovan lei and in foreign currency, is established by National Bank of Moldova and published on its official web page.".

14. In Article 26:

in part (figures "3000" to replace 2) with figures "6000";

in part (3) word "content", to exclude;

in the second column of the fourth line of the table of part (figures "10" to replace 8) with figures of "12,5".

15. In Article 27:

part (to add 4) with the offer: "Cost the basis of each fixed asset is determined according to the procedure, established by the Government.";

in part (figures "3000" to replace 5) with figures "6000".

16. In Article 31:

in part (words "assignments on discounts for losses on the credits (fund of risk)" shall be replaced with words 2) "discounts for losses on assets and contingent obligations";

part (to state 3) in the following edition:

"(3) the deduction of the discounts for losses on assets and contingent obligations estimated according to the provision approved by National Bank of Moldova is allowed to Financial institutions.";

in part (words "domestic situations" shall be replaced with words 4) "provisions of the National commission on the financial market";

add Article with part (6) the following content:

"(6) the deduction of the reserves intended for covering of the debt obligations connected with not recovery of leasing payments and percentage charges at the rate to 5 percent including from the annual average weighed remaining balance of debt obligations under leasing agreements is allowed to Leasing companies if these reserves answer in total the following conditions:

a) are not guaranteed by other person;

b) are considered as debt obligation of person which is not the affiliate of the taxpayer.".

17. In part (Article 32 of the word "for five next years." shall be replaced with words 1) "for three next years.".

18. In Article 33:

in part (figures "8100" to replace 1) with figures "8640";

in part (figures "12000" to replace 2) with figures "12840".

19. In Article 34:

in part (figures "8100" to replace 1) with figures "8640";

in part (figures "12000" to replace 2) with figures "12840";

add Article with part (3) the following content:

"(3) Provisions of parts (1) and (2) are applied since the month following after month in which there were necessary circumstances for realization of the rights specified in them.".

20. In Article 35:

in part (figures "1800" to replace 1) with figures "1920", and figures "8100" - figures "8640";

in part (2):

Item a) to add with the words "or, being disabled person since the childhood, the second degree of collateral consanguinity;";

in Item d) to replace figures "8100" with figures "8640";

add Article with part (4) the following content:

"(4) Release on dependents is provided since the month following after month of emergence of this right on condition of observance of the requirements provided in parts (2) and (3).".

21. In Article 36:

part (to state 2) in the following edition:

"(2) According to this Article only the donations made for charitable purposes or for the purpose of sponsorship concerning the public bodies and public organizations specified in Article 51, of non-profit organizations specified in part (1) Articles 52, and also orphanages of family type can be subtracted.";

in part (4) words "the investment concerning:" shall be replaced with words "investment within investment revenue, concerning:".

22. Add Article 38 with part (1-1) following contents:

"(1-1) Cost the basis of shares does not increase by the amount of dividends in the form of shares which do not change share of participation of shareholders in the capital of business entity at all and which were distributed in tax periods for 2009 inclusive.".

23. In Article 44:

Item c) parts (to declare 1) invalid;

part (to recognize 4) invalid;

add Article with part (9) the following content:

"(9) the Income and expenses upon transition from National accounting standards to International accounting standards are not recognized for tax purposes.".

24. State Article 49 in the following edition:

"Article 49. The managing resident subjects of free economic zones

The taxation of residents of free economic zones has the following features:

a) the tax on income of residents gained from commodity export (services) coming from free economic zones out of limits of customs area of the Republic of Moldova is levied in the amount of 50 percent of the rate established in the Republic of Moldova;

b) the tax on the income from activities of residents in the free economic zone except for specified in Item and), is levied in the amount of 75 percent of the rate established in the Republic of Moldova;

c) the residents investing in fixed assets of the companies and/or in development of infrastructure of the free economic zone the capital equivalent to at least than 1 million US dollars are exempted from the tax discharge on income gained from export of the goods (services) coming from the free economic zone out of limits of customs area of the Republic of Moldova for the three-year period since the quarter following quarter when the specified volume of investment was reached;

d) the residents investing in fixed assets of the companies and/or in development of infrastructure of the free economic zone the capital equivalent to at least than 5 million US dollars are exempted from the tax discharge on income gained from export of the goods (services) coming from the free economic zone out of limits of customs area of the Republic of Moldova for the five-year period since the quarter following quarter when the specified volume of investment was reached.".

25. Recognize Article 49-1 invalid.

26. Recognize Article 49-2 invalid.

27. State Article 52 in the following edition:

"Article 52. Non-profit organizations

(1) the organizations registered according to the legislation on public associations treat non-profit organizations.

(2) Non-profit organizations are exempted from payment of the income tax if they meet the following requirements:

a) are registered or created according to the legislation and perform activities according to the purposes provided by the charter, provision or other constituent document;

b) the charter, provision or other constituent document contains prohibition on distribution of means of special purpose, other means and the income from authorized activities or property between founders and organization members or her workers, including in the course of reorganization and liquidation of non-profit organization;

c) means of special purpose, other means and the income from authorized activities, property of the organization are used for the purpose of, provided by the charter, provision or other constituent document;

d) do not use means of special purpose, other means and the income from authorized activities or property for the benefit of any founder or organization member or any worker;

e) do not support any political party, the electoral bloc or the candidate for position as a part of bodies of the public power and do not use means of special purpose, other means and the income from authorized activities or property for their financing.

(3) Restrictions, stipulated in Item е) parts (2), do not extend to batches and other social and political organizations.

(4) the Right to exemption of the income tax is exercised based on the application submitted by non-profit organization to territorial authority of the State Tax Administration. The period for which release is provided begins with tax period from the date of registration of non-profit organization according to part (2) Article 121 provided that the application for exemption of the income tax is submitted till December 31 of accounting tax year.

(5) the Application form about exemption of the income tax is developed by the Main state tax authorities and affirms the Ministry of Finance.

(6) in case of non-compliance with the requirements provided by part (2), the non-profit organization is subject to the taxation in generally established procedure.

(7) the Non-profit organizations using not for designated purpose means of special purpose or using property, other means and the income from authorized activities for the purpose of, not provided by the charter, provision or other constituent document, estimate and pay the income tax at the rate, stipulated in Item b) Articles 15, from the amount used not for designated purpose.".

28. Recognize Article 53 invalid.

29. In part (3) Article 54 "humanitarian" to replace the word with the word "investment".

30. Add the Section II with Chapter 7-1 of the following content:

"Chapter 7-1 the Taxation of business entities - subjects of the sector of the small and medium companies

Article 54-1. Subjects of the taxation

(1) Subjects of the taxation are the business entities who are not registered as payers of the VAT during the declared tax period, except for peasant farms and individual entrepreneurs.

(2) the parts Corresponding to provisions (1) business entities, as of December 31 of the period preceding the declared tax period, gained income from operating activiies in the amount to 100000 lei, apply the tax regime provided by this Chapter.

(3) the parts Corresponding to provisions (1) business entities, as of December 31 of the period preceding the declared tax period, gained income from operating activiies in the amount from 100000 lei to 600000 lei, can choose the tax regime provided by this Chapter or generally established tax regime.

4) the Business entities who became during the declared tax period payers of the VAT apply generally established tax regime from the moment of registration as the payer of the VAT.

(5) the Business entities who stopped being during the declared tax period payers of the VAT apply the tax regime provided by this Chapter since the moment specified in part (4) Article 113.

(6) the Business entities applying the tax regime provided by this Chapter apply the rules of accounting provided by Chapter 6 of this Section.

Article 54-2. Taxation object

The taxation object is income from operating activiies gained in the declared tax period.

Article 54-3. Tax rate

The income tax rate constitutes 3 percent of the taxation object.

Article 54-4. Procedure for calculation, payment and declaring

(1) Calculation of the income tax is performed by application of rate of tax on the income from operating activiies.

(2) Calculation of tax is performed quarterly. Payment in the budget is performed upon termination of the respective quarter in a month.

(3) the Report on the income tax is submitted no later than March 31 of the year following accounting tax period.

(4) the Form and procedure for filling of the report affirm the Ministry of Finance.".

31. Parts (2) and (3) Article 56 to recognize invalid.

32. State Article 64 in the following edition:

"Article 64. Non-state pension funds

The funds created and operating according to the Law on non-state pension funds No. 329-XIV of March 25, 1999 are considered as non-state pension funds.".

33. Recognize Article 65 invalid.

34. In Article 66:

in parts (1) and (the word "qualified" to exclude 2);

part (to recognize 3) invalid.

35. In the name and contents of Article 68 "qualified" to exclude the word.

36. Part (Article 69 to state 1) in the following edition:

"(1) the Qualified non-state pension fund created abroad is the fund determined by the National commission on the financial market as the fund which is the qualified non-state pension fund created according to the legislation of other state.".

37. In Article 71:

Item е) after the word "dividends" to add with the words "including in the form of shares or shares";

in Item j) the second offer to exclude.

38. Part (5) articles 75 after words to "the employment contract (agreement)" to add with the words "or to other agreement (agreement) of civil nature".

39. Recognize Articles 79-1 and 79-2 invalid.

40. State Article 79-3 in the following edition:

"Article 79-3. Special regulations on international treaties

(1) Application of the international treaties regulating the taxation or containing the regulations regulating the taxation is performed according to the procedure, established by provisions of international treaties and the tax legislation of the Republic of Moldova. Provisions of international treaties prevail over the tax legislation of the Republic of Moldova; in case of availability of different rates of the taxation in international treaties and in the tax legislation of the Republic of Moldova more favorable rates of the taxation are applied. For interpretation of provisions of the international treaties signed by the Republic of Moldova with other states comments to the Model convention on avoidance of double taxation of Organization for Economic Cooperation and Development are used.

(2) For application of provisions of international treaties the nonresident shall provide to payment date of the income to the payer of the income the certificate on residence issued by competent authority of the state of its residence. The certificate on residence issued in one of foreign languages is submitted to the payer of the income in transfer into state language, except for the certificate in English or Russian. The certificate on residence is submitted in the original on each tax period in which the income, regardless of quantity is paid, to regularity of payments and type of the paid income. In case of non-presentation of the certificate on residence for the corresponding tax period provisions of the tax legislation of the Republic of Moldova are applied.

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