Moldovan government approves draft law on cash settlements

Chisinau, Nov. 15 /MOLDPRES/- The government has approved the draft law on cash settlements, which provides for more accurate rules regarding the circulation of cash in the economic circuit and the orientation towards making payments by transfer. This will ensure the increase in transparency and security of transactions, the fight against tax evasion and unfair competition, the government's communication and protocol department has reported.

The provisions of the law will be applied to legal entities, regardless of the type of property and legal form of organization, except for public authorities and institutions. The new conditions will be applied to non-commercial organizations, private people carrying out entrepreneurial activity, permanent representations and branches of non-resident entities.

At the same time, economic agents will be able to use unlimited cash funds for the remuneration of work and other payments based on employment relationships, for honoring obligations related to loans contracted from financial entities, making settlements with institutions and public authorities, paying tax obligations, payments and fines against the national public budget.