Moldovan MPs made changes to Law on small, medium enterprises

Chisinau, Oct. 20 /MOLDPRES/- Parliament voted today in the first reading on a draft amending the Law on Small and Medium Enterprises (SMEs). Following the amendments, the number of companies registered as SMEs will increase by at least 805 companies.

The amendments see the doubling of turnover thresholds for the award of micro, small and medium enterprise status. Thus, a micro enterprise will be considered a company that achieves an annual turnover of up to 18 million lei or has total assets of up to 18 million lei.

In the legislation in force, this ceiling is nine million lei. Small businesses will be those that achieve an annual turnover of up to 50 million lei or have assets of up to 50 million lei, instead of 25 million lei as it is currently. Respectively, for medium-sized enterprises, these figures would increase from 50 million to 100 million lei.

It is also proposed to eliminate the lower limits of the number of employees for the classification of small and medium enterprises.

Photo: Parliament