President’s Initiatives Get Government Go-Ahead

The Government has given the go-ahead for the initiatives of President Vladimir Voronin on the liberalisation of economy. Prime Vice Premier Zinaida Greceanai told the Government meeting, held yesterday, that the president’s initiatives were approved at the roundtable of the Committee for collective negotiations that she chairs. PM Vasile Tarlev said that he has personally discussed the initiatives with several businessmen within the Prime Minister’s Economic Council and “no one had anything against the initiative”. According to the PM, everyone backed them, saying that although they were anticipating the initiatives, but they did not expect “so radical” proposals. “It is a signal for starting unprecedented reforms to liberalise the economy”, the PM said. The Government’s approval note mentions that the reform is based on three main pillars – legalising the capital, fiscal amnesty and reform of the tax system for businesses. The first one means officially declaring the goods owned by the citizens and entities, and will be carried out through volunteer declaring of the capital belonging to individuals and entities, residents of Moldova. During the legalisation process, legal persons are offered the right to capitalise the balance assets by declaring their real value. A 5% tax of the difference between the market value and the balance value will be paid in this case. The legalisation will start on the date when the law will come into force and will finish on December 31, 2008. Fiscal amnesty aims at increasing the capitalisation of the activity and improving the economic-financial indexes of the local companies, which will offer supplementary opportunities in the process of attracting investments. The reform of the system related to the incomes of the legal persons aims at creating a favourable investment climate for spurring investments, increasing capitalisation and improving the economic-financial indexes of the local companies which will offer supplementary opportunities in the process of attracting resources for investment projects, the Government note mentions.