Ministry of Economy proposed simplifying reporting procedure for companies

Chisinau, 17 Jan. /MOLDPRES/- Companies with a turnover of up to 10 million lei per year (500 thousand euros) will submit one annual report to the state. The initiative belongs to the Ministry of Economy, which argues for the changes by the high costs that businesses bear when preparing a large number of reports.

Thus, with the simplification of the reporting method, the entrepreneurs would become more efficient and use the resources in the development of the companies, optimizing the activity and increasing its competitiveness, claims the Ministry of Economy.

"Our companies incur huge costs to prepare all kinds of reports to state institutions. Of course, the state needs to get the information it needs from the companies, but this can be done in a simpler way, which consumes less time for entrepreneurs. By consuming less time with the fulfillment of reports, an administrator or financial manager can devote more time to the development of the company, optimizing the activity and increasing its competitiveness", Minister of Economy Dumitru Alaiba said.

Experts of the Ministries of Economy, Finance and the State Fiscal Service will work alongside experts from the business environment and will ensure the implementation of the reform, which would be applied starting with the new fiscal year 2024.

Photo: ME