LAW OF THE REPUBLIC OF MOLDOVA

of June 17, 2016 No. 138

About modification and amendments in some legal acts

The Parliament adopts this organic law.

Art. I. – Parts (2) and (3) article 13-1 of the Law on the state company No. 146-XIII of June 16, 1994 (1994, 2, Art. 9), with subsequent changes, to state the official monitor of the Republic of Moldova to No. in the following edition:

"(2) Selection of auditor societies for carrying out audit of annual financial reports is performed by the company according to the criteria established in part (3). The procedure for selection of auditor societies and the sphere of powers are established by the Government.

(3) Auditor society shall correspond to the following criteria:

a) as of December 31 of the previous accounting period in appendix to the license for implementation of auditor activities at least two certified auditors, one of whom has at least five years' experience in the field, are specified;

b) auditor society, and also the auditors who are its part have no the sanctions inflicted on them by results of external control of quality of auditor works for the previous accounting period that is confirmed by Council for supervision of auditor activities.".

Art. II. – In article 32 of the Law on public associations No. 837-XIII of May 17, 1996 (repeated publication: The official monitor of the Republic of Moldova, 2007, No. 153-156 BIS), with subsequent changes to make the following change and addition:

consider single part part (1) and in it Item f) to declare invalid;

add Article with part (2) the following content:

"(2) the Certified commission obtains information on absence or availability of shortages in the national public budget of public associations, using the relevant data from the automated information system of the Main state tax authorities "Personal account of the taxpayer" through the interoperability platform founded by the Government.".

Art. III. – In the Regulations on procedure for education and use of road fund approved by the Resolution of Parliament No. 893-XIII of June 26, 1996 (Official monitor of the Republic of Moldova, 1996, No. 57, of the Art. 557), with subsequent changes, to make the following changes:

1. The subitem е) Item 1 to declare invalid.

2. In item 4 letter", e)" to exclude.

3. To state the name of the Section VII in the following edition:

"VII. Collection for realization of natural gas, held for use as fuel for vehicles".

4. Declare Item 27 invalid.

5. In Item 36 letter", e)" to exclude.

Art. IV. – Parts (1) and (1-1) Article 89 of the Join-stock companies law No. 1134-XIII of April 2, 1997 (repeated publication: 2008, 1), with subsequent changes to state the official monitor of the Republic of Moldova to Art. No. 1-4, in the following edition:

"(1) Statutory audit of annual financial reports is booked in society in which the share of the state exceeds 50 percent of the authorized capital. Selection of auditor societies for carrying out audit of annual financial reports is performed by society according to the criteria established in part (1-1). The procedure for selection of auditor societies and the sphere of powers are established by the Government.

(1-1) Auditor society shall correspond to the following criteria:

a) as of December 31 of the previous accounting period in appendix to the license for implementation of auditor activities at least two certified auditors, one of whom has at least five years' experience in the field, are specified;

b) auditor society, and also the auditors who are its part have no the sanctions inflicted on them by results of external control of quality of auditor works for the previous accounting period that is confirmed by Council for supervision of auditor activities.".

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. Change under all code concerns only the text in state language.

2. Part (Article 6 to add 5) with Item g) the following content:

"g) property levy.".

3. Part (Article 7 to state 5) in the following edition:

"(5) in pursuance of part provisions (articles 6 the taxpayers having divisions and/or the taxation objects estimate 10) and settle by payment the tax liabilities connected with the divisions/taxation objects in the place of their stay (except for the value added tax, excises and charges intended for transfer in road fund and the income tax established according to Chapter 7-1 of the Section II).".

4. In Item 14) of Article 12 the word "income" shall be replaced with words "gross income".

5. State Article 17 in the following edition:

"Article 17. Income assessment, the owner who remained after death

The income caused by property of the dead is considered as the income of the heir after acceptance of inheritance by him.".

6. Item o) Article 18 to add with the words "and not being free according to the tax legislation.

7. In Item d) Article 19 of the word "as result of positive difference" shall be replaced with words "proceeding from positive difference".

8. In Article 20:

in Item t) words National Olympic Committee shall be replaced with words "National Olympic and sports committee,";

in the Item z-11) of the word "and arts;" shall be replaced with words ", arts and sciences;".

9. In Article 21:

in part (3):

in Item 1) text: "For some groups of transactions the Ministry of Finance can establish the average exchange rate." to exclude;

add part with Items 2-1) and 3-1)-3-3) of the following content:

"2-1) If transaction is performed in foreign currency to which the National Bank of Moldova does not quote Moldovan leu, then conversion of currency is carried out in two steps. In the beginning the foreign currency is converted in other foreign currency to which the National Bank of Moldova quotes Moldovan leu. The direct course ratio of these foreign currencies is for this purpose used. The amount received thus in other foreign currency is converted into national currency on the official rate of Moldovan leu.";

"3-1) Transaction date date of reflection on the account statement in bank, and in other cases – the date specified in the source document is considered. In case of shipment of goods transaction date it is considered, according to the rules INCOTERMS, the date specified in accompanying documents of the supplier which shall match with date of transfer of goods to the managing subject carrier or the date of receipt by the representative of the buyer, irrespective of the period in which it was reflected in financial accounting of contracting parties. Date of transmission of goods to the managing subject carrier is considered their transition to property of the buyer and date of transaction.

3-2) If during the time which passed from the date of transaction before settlement date on the arisen debt, the official rate of Moldovan leu changed, there is exchange currency difference. If payment of the amount is made in the same period of tax year in which the transaction is made, the exchange currency difference between the amount which is originally reflected in financial accounting, and settlement amount represents profit or loss of the current year.

3-3) If calculations for the formed debt are not made in the same period of tax year in which the transaction was made, it is revaluated by the taxpayer on the official rate of Moldovan leu the last day of tax year for which the tax declaration is submitted, and the arisen currency difference is considered as profit or loss of the same tax year. Irrespective of possible fluctuations of the official rate of Moldovan leu in the future, for reflection of financial position of the taxpayer for date of creation of balance of the account in foreign currency are reflected in the equivalent amounts in national currency on the official rate of Moldovan leu to foreign currency operating for the corresponding day. As a result of it the difference between the amount specified in accounting records and the amount in which the transaction is reflected in financial accounting during this period or in which it was reflected previous tax year is considered as profit or loss.";

5) to declare Item invalid;

add Article with part (4) the following content:

"(4) the Face performing donation in the form of money is considered as person who gained income in the amount of the amount of the presented money excepting the amount presented by the physical person which is not performing business activity in part in what this amount does not exceed the leviable income.".

10. In Article 24:

part (4-1) to state in the following edition:

"(4-1) V departure from provisions of this Article, Articles 26 and 27 deduction of depreciation and expenses on maintenance, operation and repair of the cars used by persons specified in compound groups 112 and 121 of the Qualifier of the occupations of the Republic of Moldova subtracted according to this Section are allowed only on one car for each person specified in compound groups 112 and 121 of the Qualifier of occupations of the Republic of Moldova and only for the purpose of business activity.";

add Article with part (21) the following content:

"(21) the deduction of the expenses incurred in connection with provision of private grants Is allowed, according to the procedure, established by the Government.".

11. In Article 31:

in part (2) words "contributions to reserve funds," to replace with the word of "reserves";

add Article with part (7) the following content:

"(7) In departure from part (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 of annual average remaining balance of debt obligations on agreements of leasing is allowed to the microfinancial organizations performing activities for financial leasing if these obligations are outstanding person which is not the affiliate of the taxpayer.".

12. In Article 32:

in part (the words "in equal shares for three next years." shall be replaced with words 1) "for five next years.";

in part (the word of "two" to replace 2) with the word of "four".

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

"(1) the Managing resident subject has the right to deduction of any donations made by it within tax year to the charitable or sponsor's purposes, but no more than 5 percent of the leviable income.".

14. Part (3) Article 42 to recognize invalid.

15. Part (Article 45 to state 1) in the following edition:

"(1) in case of long-term agreements (agreements) of person, keeping financial accounting on accrual method, the income, deductions, offsettings and other transactions connected with these agreements on percentage-of-completion method consider.".

16. In Item m) parts (Article 71 the word "appointments" to exclude 1).

17. Part (Article 82 to add 1) with words "if only the document is not constituted in English or Russian.".

18. In Article 83:

in part (2):

add part with the Item a-1) of the following content:

"a-1) of person performing professional activity irrespective of availability of obligations on the tax discharge;";

in Item d) to exclude the words "and also persons managing inheritance according to Article 17,";

in part (4) words "parts (5) – (10)." shall be replaced with words "parts (5) – (9).";

part (to state 10) in the following edition:

"(10) the Representation which received the status of permanent mission according to Item 15) of Article 5, shall provide in the first declaration on the income tax submitted to territorial authority of the State Tax Administration also information relating to tax period throughout which business activity, from the first day of the beginning of business activity and until registration as permanent mission in reporting tax year was performed.".

19. In part (Article 84 of the word "transfer into budgets of administrative and territorial units" shall be replaced with words 3) "transfer into the budget".

20. Part (Article 88 to state 5) in the following edition:

"(5) the Income paid to the physical person which is not performing business activity for provision of services and/or performance of works and also to members of council or audit committee of the companies, is considered as the salary with which the tax according to the rate provided in Item keeps and) Article 15.".

21. Article 90 after words of "legal executive" to add with words of "the authorized managing directors".

22. In Article 90-1:

part (3-4) after the word "handing over" to add with words "to persons specified in Article 54, and also";

in part (4) figure" (1)," to exclude.

23. In Article 92:

in part (3) words "– in part in which" shall be replaced with words the size of the paid income "if the size of the paid income (on income types)", and at the end to add part with the offer: "If during tax period of person, the payments obliged to hold tax at source, are liquidated or are reorganized by crushing, they shall submit the specified report within 15 days from the date of approval of the liquidation/separation balance sheet of the company in the course of liquidation or reorganization.";

part (to "Article 90-1" to add 4) after words with the words "and parts (1) Article 91".

24. Item c) of article 94 after words "legal entities and physical persons" to add with the words "except the social and political organizations".

25. In Item b) Article 96:

add the subitem fourth with words ", and also on services in transfer and distribution of natural gas";

in the subitem the fifth "070960100," to replace figures with figures "070960", and after figures "070999600," to add the subitem with words "ex. 070999900 – fennel and parsley,".

26. Add Article 97 with parts (6) and (7) the following content:

"(6) In case of determination of rateable value of leviable deliveries under the agreements signed in foreign currency, applied by the currency rate the official rate of Moldovan leu operating for date of emergence of the tax liability on the VAT is.

(7) If transaction is performed in foreign currency to which the National Bank of Moldova does not quote Moldovan leu, then conversion of currency is carried out in two steps. In the beginning the foreign currency is converted in other foreign currency to which the National Bank of Moldova quotes Moldovan leu. The direct course ratio of these foreign currencies is for this purpose used. The amount received thus in other foreign currency is converted into national currency on the official rate of Moldovan leu operating for date of emergence of the tax liability on the VAT.".

27. In Article 98:

consider single part part (1);

add Article with part (2) the following content:

"(2) the official rate of Moldovan leu operating in day of introduction of payment is applied To deliveries to the territories of the Republic of Moldova of goods and services in the agreements signed in foreign currency with payment in national currency, and the difference between the settlement cost of goods, services for date of the statement of tax delivery note and the settlement cost of goods, services determined by the official rate of Moldovan leu operating in day of introduction of payment is rateable value of delivery of goods, services in the agreement signed in foreign currency.".

28. Part (Article 101 to state 8) in the following edition:

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info