Financial Legislation

Legal and Tax Aspects of the Electronic Payments

On December 12, 2017, a seminar on "Legal and Tax Aspects of the Electronic Payments" took place thanks to the joint efforts of the consulting company Brodsky Uskov Looper Reed & Partners and the Association of Professional Accountants and Auditors of the Republic of Moldova (ACAP).

Implementation of IBAN Registry

In accordance with the Concept of optimization of national transfers, approved by the Governing Board of the National Bank of Moldova № 138 of July 24, 2014, starting with January 1, 2016 the national transfers to the national public budget will be carried out using IBAN codes.

IBAN Implementation for Payments in MDL

Starting with January 1, 2016 the new IBAN Code is implemented for national transfers in lei.

The concept of optimization of national transfers involves the commissioning of IBAN code for national transfers starting with January 1, 2016.

Until January 1, 2017, banks and other institutions will accept payment documents containing the IBAN codes, as well as accounts that existed prior to the date of commissioning of the Concept of national transfers optimization.

Starting with January 1, 2016 all budgetary payments will be made only by using IBAN Codes. The new form of payment order in MDL from 01.01.2016 includes a section for IBAN Code.

Law no 128 on Completion of Certain Legislative Acts

Approval of the legal framework and the establishment of a procedure to stop global illegal financial activities. Act of Parliament on amendments to some legislative acts No. 128 as of 08.06.2012.

  • Law on Entrepreneurship and Enterprises No.845 of 01.03.1992

  • Criminal Code No. 958 as of 18.04.2002

  • Law on Micro-Finance Organizations No 280 as of 22.07.2004

  • Code of Offences of the Republic of Moldova as of 24.10.2008 No. 218, 218

Important Update on Regulation on the Inventory

Approval of the new order of the inventory (Order of the Ministry of Finance to approve the Regulations on the inventory № 60 from 29/05/2012)

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Brodsky Uskov Looper Reed & Partners is a company that offers legal services in the Republic of Moldova. The spectrum of activity covers legal advising, lawyer support, international representation to local and foreign companies operating in the Eastern and Central Europe. It covers the juridical aspects of business activities, including investments law practices in Moldova and deals with spheres of employment law, family, real estate law and many other juridical aspects. Brodsky Uskov Looper Reed & Partners incorporates a team of professionals and prospective attorneys that are ready to provide paralegal services in fields like international transactions, investment activities, real estate law, intellectual property, insurance law, bankruptcy services and government related activities. It is one of the most competent and trusted law firm in the Eastern Europe and its activity through the years as a legal adviser brought many advantages to the economical development of the Republic of Moldova.