Moldova has reduced fines for non-provision of statistical reporting by companies’ accountants or the submission of false statistical data

Moldova has reduced fines for non-provision of statistical reporting by companies’ accountants or the submission of false statistical data

This is provided for by amendments to the Code of Offenses, which the government approved under its responsibility to parliament. These amendments have been published in Monitorul Oficial on March 8. The document provides that the failure to submit statistical information within the prescribed period or the reporting of invalid statistical information or in incomplete amount to the authorities will entail the imposition of a fine on individuals 12 to 42 conventional units (600-2100 lei), on officials - from 15 to 45 conventional units (750-2250 lei) and for legal entities - from 45 to 55 conventional units (2250-2750 lei). It is also agreed that the violations provided for in Art. 330 of the Code of Offenses, are ascertained and reviewed by the National Bureau of Statistics and regional statistical centers. The general director of the National Bureau of Statistics, his deputies, the heads of regional statistics centers and their deputies are entitled to consider these violations and apply penalties. It is worth noting that the amendment was undertaken after a substantial increase in fines introduced in December last year for failing to submit statistical reports or to provide false data. Then the penalties were increased from 12-45 conventional units up to 50-350 conventional units. However, after the appeal of the Association of Professional Accountants and Auditors of Moldova to the authorities and lengthy discussions, the government agreed that the penalties imposed were too severe, and the imbalance between the sanctions and the severity of the offenses was too great. As a result, the fines have been reduced. // 11.03.2019 - InfoMarket.

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