Moldovan speaker explains meaning of voluntary declaration of goods  

Chisinau, 01 August /MOLDPRES/ – The Law voluntary property declaration includes clear mechanisms against legalising money from illegal activities, corruption, terrorist financing or money laundering, compared to other experiences promoted by previous governments, said Parliament Speaker, Andrian Candu, today, at the totalisation conference of spring parliamentary session.

According to the parliament’s communication and public relations department, Andrian Candu outlined that goods and financial means derived from illegal activities or corruption can not be declared voluntarily. When declaring funds, the beneficiary must declare and prove their source of origin. Also, when funds are declared, the money is deposited on bank accounts in financial institutions of Moldova, which will necessarily apply the procedures for identifying the client and verifying the origin of the financial sources.

Similarly, he specified that the Law regulating voluntary declaration of goods has provisions that prevent or combat money laundering and terrorism financing, being in line with best international practices, exclude many categories of citizens which will not benefit from this law, and those found to be involved in bank fraud.

According to him, the basic principle of this measure is to declare and legalise personal still undeclared capital by paying a 3 per cent tax to the state, which was not done in 2012, when public budget had zero receipts. The subject of voluntary declaration will be money, property, means of transport, shares and social partners.

Andrian Candu mentioned that it will be also submitted to declaration the difference in value if value of goods was under – appreciated, and these measures would contribute to raising the tax base. For money funds, the voluntary declaration will be made until 10 December 2018, and for other goods until 01 November 2018.