The implementation of transfer prices in Moldova was carried out for the benefit of the taxpayer - State Tax Service
Olga Golban, Director of the State Tax Service (STS) stated this while speaking at a new training seminar for taxpayers on transfer pricing and legal criteria related to transactions subject to transfer pricing legislation, organized by the State Tax Service with the support of the US Department of Finance. The seminar was led by Radu David, Head of the Department of Legal Expertise of the State Tax Service, and Susan Stanley, an expert on international taxation at the U.S. Department of the Treasury's Office of Technical Assistance. Olga Golban thanked all the participants of the event for their interest in the topic of transfer pricing and the desire to deepen their knowledge in this area together with the STS specialists and international experts. She noted the openness of the STS for the exchange of accumulated knowledge. “We will learn together step by step what transfer pricing is. Today we will learn the experience of our colleagues from the U.S. and will be enriched with new knowledge on how we will implement transfer pricing in Moldova. Only through discussions with those who are experienced in this field, who have experience and management practices in transfer pricing, we can get new knowledge and develop skills that will give us the necessary security to take the first step in applying transfer prices,” the STS Director said. Olga Golban specified that the implementation of transfer prices in Moldova was made in favor of the taxpayer. “At the first stage of analyzing the information, if the STS requires it, the principle of compliance will be applied, which gives the taxpayer the possibility to correct the relevant information. There is no such experience in other tax administrations. Also, through the 2023-2024 debate, we were able to postpone the deadlines for the application of sanctions in the context of failure to submit or erroneous submission of information that serves as the basis for transfer price analysis. This postponement is a tax vacation and benefits the taxpayer in the idea of learning together with the STS,” added the Director of the STS. For her part, US Chargé d'Affaires in Moldova Daniela DiPierro confirmed that the US Embassy and the Ministry of Finance will continue to cooperate with the STS to implement this important legislation, which contributes to a more democratic and more prosperous future for all Moldovan citizens. “I am very pleased to be with you today and that many taxpayers are here to learn more about transfer pricing. I want to express gratitude to the U.S. Department of the Treasury's Office of Technical Assistance for working with the State Tax Service to support Moldova's progress toward EU integration and OECD standards for tax legislation and administration. This workshop is the result of a joint effort between the IRS and the U.S. Department of the Treasury. The IRS continues to develop sound international tax policies and procedures. This fact demonstrates Moldova's commitment to promoting a transparent, fair and efficient fiscal environment that unites Moldova with its neighbors and the rest of the European Union,” concluded Daniela Dipierro. // 27.09.2024 - InfoMarket.
