Moldova: Business Environment

Accounting Rules

Tax Year: From January 1st to December 31st.
Accounting Standards: The national charter of accountants and the accounting standards of the Republic of Moldova (MAS) have been in existance since 1998 and follow the international standards of accountants (IAS/IFRS).
Accounting Regulation Bodies: Ministry of Finance
Accounting Reports: The balance sheet, the profit and loss account and the appendix should be part of the accounting structure.
Publication Requirements: Publication should be done annually.
Professional Accountancy Bodies: Accountants association of the Republic of Moldova , Moldovan only.
Certification and Auditing: Companies are generally not required to have their accounts audited, although this requirement does exist for certain specific types of entities, such as banks, investment funds etc.. You can contact en external auditor: Deloitte, Ernst & Young, PricewaterhouseCoopers, KPMG.
Accounting News: Einnews Moldova
Ministry of Finance of the Republic of Moldova

Nature of the Tax: Value Added Tax (VAT)
Tax Rate: 20%
Reduced Tax Rate: A reduced rate of 5% is applied to natural and liquefied gas. A reduced rate of 8% is levied on certain bakery and dairy products, as well as milk and import or supply of drugs. A 0% rate is applicable to exports, supply of goods and services to free economic zones, supply of goods to "duty free shops" and other types of transactions.
Other Consumption Taxes: There are numerous other consumer taxes namely on cigarettes, alcohol and caviar. There are also taxes on vehicles, in order to finance road maintenance and construction.

Company Tax: Up to MDL 25,200 :7%
Over MDL 25,200: 18%
Tax Rate For Foreign Companies: Non-residents are taxed in a similar manner to nationals but only on income earned in Moldova.
Capital Gains Taxation: Capital gains are included in the taxable income of the company and are taxed as ordinary.
Main Allowable Deductions and Tax Credit: Under certain conditions and limits, deductions are possible for: depreciation; amortisation; research and development expenses; business trip expenses; waste, spoilage and expiration expenses; bad debts; charity and sponsorship expenses; interests.
Other Corporate Taxes: Real property tax, social security contributions, stamp duty, tax on natural resources, road tax.

	Moldova	Eastern Europe & Central Asia	الولايات المتحدة	Germany
Number of Payments of Taxes per Year	48.0	41.7	11.0	16.0
Time Taken For Administrative Formalities (Hours)	228.0	313.9	187.0	215.0
Total Share of Taxes (% of Profit)	30.9	41.2	46.8	48.2

Source: Doing Business - Last Available Data.

Allowable Deductions and Tax Credit: Personal allowances are available to the taxpayer and his/her spouse, children and dependents. Deductions are granted for medical insurance and individual social contributions.
Special Expatriate Tax Regime: Expatriates are taxed only on the income earned in the Republic of Moldova. Married couples are taxed separately.

Countries With Whom a Double Taxation Treaty Have Been Signed: See the list of signed agreements.
Withholding Taxes: Dividends: 15%, Interest: 10%, Royalties: 10%
Bilateral Agreement: Moldova and Egypt are not bound by a double taxation treaty.

Tax Authorities: State tax Service of the Republic of Moldova
Customs Service of the Republic of Moldova
Other Domestic Resources: Customs Service of the Republic of Moldova

National Organizations: The State Agency on Intellectual Property of the Republic of Moldova (AGEPI).
Regional Organizations: Charter of the Commonwealth of Independent States (Charter on Intellectual property).
International Membership: Member of the WIPO (World Intellectual Property Organization)
Signatory to the Paris Convention For the Protection of Intellectual Property
Membership to the TRIPS agreement - Trade-Related Aspects of Intellectual Property Rights (TRIPS)

Type of property and law	Validity	International Agreements Signed
Patent Patent Law No.461/1995	20 years	Patent Cooperation Treaty (PCT)
Trademark Law on Trademarks and Designations of Origin No. 588-XIII	10 years	Trademark Law Treaty Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks
Design Law on protection of Industrial Designs No.991/1996	5 years
Copyright Copyright Law Law No.293-XIII	During the life of the author and up to 50 years after his/her death	WIPO Copyright Treaty WIPO Performances and Phonograms Treaty
Industrial Models Law on the protection of Industrial Designs No. 991-XIII	5 years

Independence of Justice: Moldova's constitution provides for an independent judiciary; however, judges are subjected to political pressure.
Equal Treatment of Nationals and Foreigners: Foreign nationals cannot always expect an impartial trial from the country's judicial system.
The Language of Justice: The language of the court is Moldovan, which is very close to Romanian.
Recourse to an Interpreter: It is possible to have an interpretor.
Sources of the Law and Legal Similarities: The main source of law is the new constitution of 1994 (it replaced the old Soviet constitution of 1979). The legal system is based on a civil law system and judicial reviews of various legislative acts and governmental decisions.
Checking National Laws Online: Republic of Moldova Parliament website

Learn more about Lawyers and Legal in Moldova on Globaltrade.net, the Directory for International Trade Service Providers.

National Standards Organizations: National Institute of Standardization and Metrology of the Republic of Moldova
Integration in the International Standards Network: The National Institute of Standardization abides by the international (ISO) and European (CEN) standards, and is a member of the Euro-Asian Council for Standardization, Metrology and Certification (EASC).
Classification of Standards: The Moldovan standards are the SM. For more information consult the INSM website.
Online Consultation of Standards: For more information, refer to the National Institute of Standardization and Metrology of the Republic of Moldova.
Certification Organizations: National Institute of Standardization and Metrology of the Republic of Moldova

General Information: Logisticsmoldova, Information on Moldovan etiquette
Opening Hours and Days: Banks are open Monday to Friday from 8 AM to 12 PM then from 1 PM to 5 PM. Credit cards are accepted in very few hotels, therefore it is better to carry cash.

New Year's Day	January 1st
Orthodox Christmas	January
Day following the Orthodox Christmas	January
Orthodox New Year	Mid-January
Orthodox Easter Monday	April
Labor Day	May 1st
Commemoration Day	May 5th
Victory Day	May 9th
Independence Day	August 27th
National Language Day (Limba Noastra)	August 31st
Chisinau Day	October 14th

New Year's Day	January 1st
Orthodox Christmas	January
International Women's Day	March 8th
Easter	According to the Orthodox Calendar
Commemoration Day	Sunday following Easter
Labor Day	May 1st
Victory Day	May 9th
Independence Day	August 27th
Limba Noastra (National Language Day)	August 31st
National Wine Day	October 13th and 14th

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