Moldovan companies with a turnover that does not exceed 18 million lei will be required to submit only one annual report. The initiative to simplify the way of reporting to a single annual document was announced today by the Minister of Economy Dumitru Alaiba.

According to the minister, the necessity comes from the high costs that businesses bear when preparing a large number of reports. With reporting simplified, entrepreneurs can become more efficient. The lack of excessive bureaucracy will encourage businesses to act legally.

The proposal was discussed during a meeting of the working group made up of representatives of ministries, state institutions and non-governmental organizations.