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 microfinance organizations No 280 as of 22.07.2004 / /Code of Offences of the Republic of Moldova as of 24.10.2008 No. 218, 218]).

In accordance with the provisions of the Law No. 128 as of 08.06.2012 are introduced the following changes in regulations on business and enterprises Law No. 845 as of 03.01.1992 No 958 of the Criminal Code No 958 as of 04.18.2002 / / Law No. 280 on Microfinance Organizations as of 22.07.2004 / / Violations Code of the Republic of Moldova No. 218 of 218 of 24.10.2008.

Changes are made to regulate the activities of so-called "financial pyramids" and to stop financial activity in the absence of registration.

Law No. 128 also complements the Violence Code art. 2631, which provides a penalty for individuals in the amount of 2000 to 3000 MDL for legal entities in the amount of 8000 to 10000 MDL for organizing financial structures, regardless of their name, without registration and without authorization provided for in the legislation, through which individuals are encouraged to deposit or collect money or register in the list, rregardless of the method of such payment or registration, in the hope of financial gain from increasing the number of persons recruited or recorded in order to obtain for himself or a third party of illegal material benefit.

The full text of the Regulations can be found at the following address: In Russian | In the state language

The law of the Parliament on amendments to some legislative acts No. 128 as of 08/06/2012 is published in Monitorul Oficial No. 143-148/473 as of 13.07.2012.

The law takes effect from the date of publication.


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.

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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