Moldovan economic agents to submit less financial reports

Chisinau, 30 June /MOLDPRES/ – The economic agents will submit fewer financial reports to state authorities, according to a draft law passed today in the final reading by the Legislature.

The document stipulates that economic agents will need to submit one monthly FSIC16 report instead of five, which had been compulsory before. The new report is due to be filed with the State Tax Service (SFS) by the 25th of each month.

The unified FSIC16 report is based on the information in the five reports and will allow the elimination of duplicate data, thus reducing the volume of reporting indices by around 40 per cent.

It is mentioned in the informative note annexed to the project that the implementation of the unified report is beneficial for both economic agents and state institutions and is a tool for combating tax evasion and "wages in the envelope." For the state, this change in legislation will bring Savings of financial resources from the discharge of the National Social Insurance Company (CNAS) and the National Health Insurance Company (CNAM) from the obligation to receive and process the reports, the tasks being taken over exclusively by the SFS.

As such, all Moldovan economic agents who employed persons were required to submit five different reports related to salary payments and related taxes: a statement on the amount of income paid and income tax at SFS, a statement on the calculation and the use of compulsory state social insurance contributions to the CNAM, a declaration of the insured person at CNAS, a report on the calculation of compulsory health insurance premiums and a form showing the modification of labour relations between the employer and the employee.

The new amendments will enter into force on the date of its publication in the Official Journal.

(Reporter A. Zara, editor L. Alcaza)