The incomes from interest on bank deposits earned by private individuals and legal entities will be taxed from January 1, 2015. The decision was made at a meeting of Minister of Finance Veaceslav Negruta and representatives of the Banks Association of Moldova and is designed to ensure stability in the banking system, Info-Prim Neo reports, quoting the Ministry of Finance’s website. The difficulties encountered by the Moldovan financial institutions in switching over to the International Financial Reporting Standards were a separate subject discussed at the meeting. It was stressed that the major impediment was the approval of the bookkeeping plan in financial institutions. The participants highlighted the necessity of modifying certain normative documents of the National Bank and the fiscal legislation so that they allow implementing smoothly the International Financial Reporting Standards. It was decided to set up a joint working group that will deal with the economic, financial and fiscal problems appearing in Moldova’s financial-banking sector.