Businesses could be taxed for off-shore transactions

Moldovan businesses will have to pay a tax when making transactions through off-shore zones. The provision is part of a bill submitted to Parliament by Democrat MP Iurie Bolboceanu. The MP told Info-Prim Neo businesses will have to pay 10% of the transaction if the law is adopted. According to Iurie Bolboceanu, some Moldovan residents that import petroleum, mineral nutrients, sugar, do most of their transactions through off-shore zones. “They stock their incomes in states or regions with a very mild taxation systems, and export to Moldova from there. The State Budget is at a loss due to their actions”, the MP pointed out. Iurie Bolboceanu emphasized that no one prohibits businesses from importing through off-shore zones. “No one can ban them from making transactions with Cyprus, for example, where the entire country is an off-shore zone. But if they chose to do so, they must contribute to the State Budget”, said the Democrat. The bill reached the Parliamentary commissions for examination. The author hopes that it will be debated in Parliament within a month.