The draft Regulation on the accounting and calculation of the depreciation of fixed assets for tax purposes provides for simplifications and clarifications regarding several aspects. The draft aims to provide a comprehensive regulatory framework, witch minimizes costs incurred by the business environment to ensure the record of fixed assets for tax purposes. The draft was discussed at a meeting organized by the Ministry of Finance with the participation of the business environment.

The Minister of Finance, Serghei Pușcuța, said that the Regulation on the accounting and calculation of the depreciation of fixed assets for tax purposes is a very important bill that directly relates to the activity of the accounting and financial services of economic entities: “It is a draft long awaited by the business environment. A lost of effort has been invested in order to produce this bill. The purpose of this draft is to provide an efficient, transparent and clear framework for the business environment", said Serghei Pușcuța, quoted in a Ministry of Finance press release.

The Secretary of State, Dorel Noroc, said that the purpose of this regulation is for economic agents to use as little time as possible in order to calculate the tax depreciation. "The register of accounts and calculation of depreciation is designed in such a way that it can be fully automated", said the official.

According to him, the first transition process from the old to the new system will require a great effort in order to enter all data. However, starting with the second year, the basic required indicators for the calculation of the depreciation will be automatically imported from the previous fiscal period.