President of Association of Auditors and Management Consultants from the Republic of Moldova, General Director of audit company „Ecofin-Audit-Service” SRL, editor in chief of "Fin-Consultant" magazine, economist, Mr. Ion Prisacaru has signed a new original book, which has recently appeared at the publishing house ”Gunivas” – “Return to roots”. 
In March 2012, Audit firm „Ecofin-Audit-Service” SRL, became partner – member, of international network Crowe Horwath International. 
On 02.02.2012, during the award ceremony for “Brand of the year - 2011” contest, Ecofin-Audit-Service Ltd was awarded the “Mercuriul de aur (Golden Mercury)” Grand Prix for the “Financial Institutions, Products and Services” category, Socially Responsible Brand Nomination. 
Dear readers get informed about the legislative news published in the Official Monitor of the Republic of Moldova during November, 2011.
1. The Chamber of Commerce and Industry of the Republic of Moldova adopted the Instruction on the expertise of goods by experts-evaluators of the Chamber of Commerce and Industry of the Republic of Moldova. The given Instruction is a fundamental document on the preparation of methodological recommendations for conducting different types of expertise. It regulates the manner of organizing and carrying out the expertise determining the quality and quantity of goods, the manner of conducting additional expertise, repeated and control, and establishes the requirements for the expertise report and its issuance to the beneficiary. (Instruction of the Chamber of Commerce and Industry of Moldova as of June 16, 2011, Official Monitor of the Republic of Moldova No. 203-205 issued on November 25, 2011).
2. The National Commission of Financial Market made changes and additions in the Regulation on the requirements regarding the content of terms and conditions of insurance for voluntary insurance classes No. 55/6 as of November 8, 2007. Thus, it was established that the access of applicants for insurance to the insurance services based on race, nationality, ethnic origin, spoken language, gender, age, opinion, political affiliation, personal property or social origin cannot be limited by the conditions of voluntary insurance, “general insurance” category. Also, there were specified the language requirements to be met in preparing insurance conditions (to use terminology in the field, avoid regionalisms, legal tautologies, etc.). Insurers are obliged to comply with the conditions of voluntary insurance within 45 days from the date of publication of this decision. (Decision of the National Commission of Financial Market No. 31/23 as of July 28, 2011, Official Monitor of the Republic of Moldova No. 187-191 as of November 4, 2011).
Tax legislation
1. The Ministry of Finance made changes in the Order regarding the approval and completion of the standardized form of primary documents of special regime “Tax invoice” No. 115 as of September 6, 2010. The given changes refer to a new publication of the Section 5 of the mentioned Order, specifying the requirements to be met by VAT taxable subjects to benefit of the right to print tax invoices individually. (Order of the Ministry of Finance No. 128 as of October 24, 2011, Official Monitor of the Republic of Moldova No. 187-191 as of November 4, 2011).
2. At the same time, the Main State Tax Inspectorate issued the Order on the individual printing of standard forms of primary documents of special regime “Tax invoice”. The given order regulates the method of obtaining the right to individually print tax invoices, the peculiarities of the examination procedure of taxpayers’ applications to obtain this right, the economic operator’s obligation to present the report on the range of numbers used, and cases of deprivation of the right to individually print tax invoices. (Order of the Main State Tax Inspectorate No. 871 as of October 28, 2011, Official Monitor of the Republic of Moldova No. 187-191 as of November 4, 2011).
3. Following the completion of the Law on implementation of Title III of the Tax Code No. 1417-XIII as of December 17, 1997 (republished in the Official Monitor of the Republic of Moldova, special edition of February 8, 2007) and of the Law on customs tariff No.1380-XIII as of November 20, 1997 (republished in the Official Monitor, special edition of January 1, 2007, it was established to no apply value added tax, customs duty and tax for customs procedures at import and/or delivery, on the territory of the Republic of Moldova, of goods and services meant for the project “Rehabilitation of wastewater treatment system in Nisporeni” offered by the Czech Development Agency. (Law No. 212 as of October 27, 2011, Official Monitor of the Republic of Moldova No. 197-202 as of November 18, 2011).
4. The average monthly salary forecasted by the Government for 2012 constitutes MDL 3550. (Government Decision No. 868 as of November 22, 2011, Official Monitor of the Republic of Moldova No. 203-205 as November 25, 2011).
Banks and banking activity
1. The Moldova Deposits Guarantee Fund in the Banking System approved the percentage rate applied in calculation of the mandatory payment for 2012 in the proportion of 0,0640% of the total amount of guaranteed deposits, recorded in the balance sheet of each bank licensed as of September 30, 2011. Licensed banks are to perform the necessary calculations based on the total amount of guaranteed deposits, recorded in their balance sheet as of September 30, 2011, and to pay the mandatory annual payment until December 31, 2011. (Decision of Deposits Guarantee Fund in the Banking System No. 128/3 of November 21, 2011, Official Monitor of the Republic of Moldova issued on November 25, 2011).
2. In order to conduct a comprehensive analysis of the cash turnover in the Moldovan Banking System, the National Bank of Moldova approved the Instruction for banks on how to prepare a Cash Transaction Report. According to the given Instruction, the Cash Transaction Report is to be prepared by the National Bank of Moldova and all the banks providing cash management services to economic agents and population, including data on cash circulation of currency exchange points and ATMs. (Decision of the National Bank of Moldova No. 256 of November 17, 2011, Official Monitor of the Republic of Moldova No. 203-205 of November 25, 2011).
3. To update and improve accounting in the banking system, the National Bank of Moldova modified and completed the Chart of accounts of the licensed banks from the Republic of Moldova, approved by the Decision of the Administration Council of the NBM No. 15 as of March 26, 1997. (Decision of the National Bank of Moldova No. 216 as of September 29, 2011, Official Monitor of the Republic of Moldova No. 192-196 issued on November 11, 2011).
Regulations in various fields
1. There was completed the Execution Code of the Republic of Moldova No. 443-XV of December 24, 2004 (republished in the Official Monitor of the Republic of Moldova, 2010, 214-220). In this way, it was established that bailiffs will not be able to track the following debtor’s incomes: state social allowances and the part of the pension in the size of the minimum guaranteed amount of the wage in the real sector. Currently, according to the Government Decision No. 165 as of March 9, 2010, the minimum guaranteed amount of wage in the real sector is MDL 1100 per month. (Law No. 92 as of May 12, 2011, Official Monitor of the Republic of Moldova No. 197-202 of November 18, 2011).
2. The Criminal Code of the Republic of Moldova No. 985-XV as of April 18, 2002 (republished in the Official Monitor of the Republic of Moldova, 2009, No. 72-74) was completed with art. 2441, which established criminal liability for tax evasion by individuals. The offence of tax evasion by natural persons that do not perform entrepreneurial activity is evasion to present the Income Tax Declaration or including some misleading data, if the amount of income tax that was to be paid exceeded MDL 50 000. People guilty of the offences listed are punishable by a fine from MDL 20.000 to MDL 40.000, or from 180 to 240 hour community service, or 1 year prison term. The same action that led to failure to pay tax in extremely large amounts (more than MDL 100.000) is punishable by a fine from MDL 40.000 to 60.000 or 3 year prison term. Simultaneously, there were made changes in the art. 301 of the Contravention Code of the Republic of Moldova No. 218-XVI, as of October 24, 2008, establishing that tax evasion by individuals that are not involved in entrepreneurial activity by evading to present the income tax declaration or by including some denatured data, if the amount of the tax that was to be paid did not exceed MDL 50.000 are going to be punished by a fee from MDL 2000 up to 3000. The penalty will not be applied in the case the income tax to be paid is less than MDL 2000. (Law No. 206 as of October 21, 2011, Official Monitor of the Republic of Moldova No. 197-202 issued on November 18, 2011).
3. The National Agency for Energy Regulation approved the Regulation on the quality of natural gas transportation and distribution services. The Regulation is applicable to legal relations between the network operator and final consumers and establishes the minimum quality indicators and the consequences of their failure by the network operator. (Decision of the National Agency of Energy Regulation No.416 as of June 9, 2011, Official Monitor of the Republic of Moldova No. 192-196 issued on November 11, 2011).
