Moldovan companies with a turnover up to 10 million lei to provide only one annual report, starting from the financial year 2024.
Minister of Economy, Dumitru Alaiba stated, noting that this is the goal set to simplify business operations. He emphasized that if in Estonia and in other countries only one annual report per company is possible, it is also possible in Moldova. Dumitru Alaiba drew attention to the fact that Moldovan companies bear enormous costs to prepare all sorts of reports for state institutions. "Of course, the state needs to get the necessary information from companies, but this can be done in a simpler way that is less time-consuming for entrepreneurs. By spending less time filling out reports, an administrator or financial manager can devote more time to developing the company, optimizing operations and making it more competitive," the economy minister said. He also stressed that excessive bureaucracy discourages many entrepreneurs from taking the first step by registering a business, and they prefer to operate unofficially to avoid incurring costs. "We continue to help entrepreneurs save time and money, focus on things other than dealing with the government, and at the same time achieve a clear and simple regulatory framework. We're preparing a simplification for entrepreneurs right now. Experts from the Ministry of Economy, the Ministry of Finance, and the State Tax Service will work together with experts from the business community to implement this reform. The final goal in this process is one single annual report for companies with a turnover of up to 10 million lei, starting from the new fiscal year 2024", Dumitru Alaiba wrote on his social network page. // 16.01.2023 - InfoMarket.
