Fiscal policy bill passed upon second reading

The Moldovan Parliament on Saturday, March 26, adopted the 2011 fiscal policy bill after hearing it in the second reading. It was passed with the vote of 52 out of 101 deputies as the Communist faction voted against, Info-Prim Neo reports. After debating the proposed amendments for hours, the governing coalition parties eventually reached compromise and the parliamentary commission responsible for budget matters gave its seal of approval before submitting the bill to Parliament. MP Veaceslav Ionita, the head of the parliamentary commission, said the modifications mainly concerned instruments allowing the state to tax people who spend more than 300,000 lei a year. These people, as well as those who earn more than 1 million lei, will be verified as to how accurate they declare their incomes and pay their taxes. These provisions will take effect on 1 January 2012. The Communist faction explained its negative vote by saying that the commission ignored their proposed amendments. On Friday, the Democratic and the Liberal factions endorsed the fiscal policy bill in first reading in exchange for the promise that the bill would include a number of amendments, in particular the removal of the provision granting the Fiscal Inspectorate the authority to ascertain the lawfulness or unlawfulness of taxpayers' actions. By 4:00pm on Saturday when this article was originally published the lawmakers were hearing the 2011 Budget Bill in a first reading.