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Events

Sample imagePresident 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”. (Read more...)
Sample imageIn March 2012, Audit firm „Ecofin-Audit-Service” SRL, became partner – member, of international network Crowe Horwath International. (Read more...)
Sample imageOn 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. (Read more...)

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July 2011

We continue to inform you about the news, amendments and modifications introduced in the legislation of the Republic of Moldova within July 2011.

In this month there were significant modifications made in the domain of state social insurance:

  • there was changed the source of financing of temporary disability benefit, payment of this benefit being charged partially to insured person and to employer;
  • the amount of temporary disability benefit for employees whose length of pensionable service exceeds 8 years was reduced; there was modified the method of payment of temporary disability benefit, etc.

Amendments and modifications of legislation in next fields:

Tax legislation
Annexes No. 1 and No. 2 to the Governmental Decree No. 246 dated April 8, 2010, On the method of application of zero VAT rate to delivery of goods and rendering of services on the territory of the country and provision of tax and customs exemptions for the current technical and investment assistance projects, which fall within the scope of international treaties to which the Republic of Moldova is the part, were complemented with new items. (Governmental Decree No. 542 dated July 18, 2011, Official Gazette of the Republic of Moldova No.118-121 of July 22, 2011).

Banks and banking operations
National Bank of Moldova has approved the Regulations on branches, representative offices and sub-offices of the banks. The Regulations establish conditions for opening of branches, representative offices and sub-offices of the banks in the Republic of Moldova, procedure of preliminary approval of opening of branches and representative offices, for notification about opening of sub-offices, permitted activities of these, as well as the procedure of closing of respective subdivisions. (Decision of the National Bank of Moldova No. 84 of April 28, 2011, Official Gazette of the Republic of Moldova No. 110-112 of July 8, 2011).

Regulations in various domains
1. On July 1, 2011 there were published and have come into force amendments to the Law on temporary disability benefits and other social insurance benefits No. 289-XV of July 22, 2004. Amendments establish in particular sources of financing of temporary disability benefits and the amount of the latter. Thus, it was established, that payment of benefit for temporary disability caused by usual disease or by accidents not related to work, is made as follows:

  • first calendar day of temporary disability is charged to the account of insured person;
  • second calendar day of temporary disability is paid from the financial means of the employer;
  • starting from the third calendar day of temporary disability, the benefit is paid from the means of state social insurance budget.

As an exception from the aforementioned rule, the payment of benefit for temporary disability caused by tuberculosis, AIDS, any type of cancer or by the risk of interruption of pregnancy, as well as payment of temporary disability benefit to pregnant women who are registered with medical and sanitary institutions, is made integrally from the budget of state social insurance starting from the first calendar day of temporary disability. As well, the amount of temporary disability benefit for employees whose length of pensionable service exceeds 8 years was reduced from 100% to 90%; only benefit for temporary disability caused by tuberculosis, AIDS, or any type of cancer will constitute 100%. (Law No. 56 of June 9, 2011, Official Gazette of the Republic of Moldova No. 107-109 of July 1, 2011).

2. There were made modifications in Regulations on conditions of establishment, method of calculation and payment of temporary disability benefit and other social insurance benefits, approved by the Governmental Decree No. 108 of February 3, 2005, basis of accrual of social insurance benefits being correlated with the basis of accrual of individual social insurance contribution. Before the given modification, the maximum basis of accrual of social insurance benefit was limited by 3 medium salaries forecasted based on economy, while maximum basis of accrual of individual social insurance contribution constitutes 5 medium salaries forecasted based on economy. Thus, as a result of the mentioned modifications, there was excluded the existent unjust situation, when the basis of accrual of social insurance benefit constituted medium monthly income of an employee, which could not exceed 5 medium salaries forecasted based on economy. (Governmental Decree No. 530 dated July 13, 2011, Official Gazette of the Republic of Moldova No.117 of July 19, 2011).

3. As well, the Regulations on conditions of establishment, method of calculation and payment of temporary disability benefit and other social insurance benefits, approved by the Governmental Decree No. 108 of February 3, 2005, was modified. Modifications are related to the methods of establishment of benefit, basis of its accrual, its amount, etc. Proceeding on the basis that the obligation on payment of the benefit for the second day of temporary disability was charged to the account of employer, there was concretized the method of benefit payment in case when an employee holds more than one office. The amount of temporary disability benefit for the second day of sick leave will be distributed between employers in amounts proportional to the insured income of an employee; employer at the main office will confirm by means of a certificate the part of benefit subject to payment by the employer at the second office. (Governmental Decree No. 555 dated July 22, 2011, Official Gazette of the Republic of Moldova No.122-127 of July 29, 2011).

4. There was adopted the Law on state recovery of damages caused by violation of the right to trial within a reasonable term or the right to execution of a judgement within a reasonable term. According to the aforesaid law, any natural or legal person, who/which considers that his/its right to trial within a reasonable term or right to execution of a judgement within a reasonable term was violated, may now bring to the court a statement of claim on assertion of such violation and on recovery of damage caused by such violation. Damage caused by the aforementioned violation shall be recovered irrespectively from the fault of a judicial instance, criminal prosecution body, body responsible for execution of judgement or state institution - debtor. After recovery of damage the state has the right to sue for compensation in regard to the person in fault. (Law No. 87 of April 21, 2011, Official Gazette of the Republic of Moldova No. 107-109 of July 1, 2011).

5. There were also amendments made to the Law on state duty No. 1216-XII of December 3, 1992 and to the Code of Civil Procedure of the Republic of Moldova No. 225-XV of May 30, 2003, establishing that parties to the proceedings related to violation of right to trial within a reasonable term or right to execution of judgment within a reasonable term with recovery if damage caused by such violations, are freed from payment of state duty. (Law No. 88 of April 21, 2011, Official Gazette of the Republic of Moldova No. 107-109 of July 1, 2011).

6. There were approved the Regulations on patent attorneys in intellectual property. The Regulations establish peculiarities of carrying out of professional activity of patent attorneys in the domain of intellectual property in conformity with legislation of protection of intellectual property and other regulatory documents, as well as provisions of international treaties to which the Republic of Moldova is the part. A patent attorney is a natural person attested and registered with the National register of patent attorneys in intellectual property, who represents the interests of natural and legal persons and provide these with necessary assistance in the domain of protection of the objects of intellectual property. According to the Regulations, patent attorney may carry out his professional activity as an individual entrepreneur, or by constituting a legal person for rendering of services in the domain of intellectual property, as well as in the capacity of an employee of an institution, organization or enterprise of any legal form of organization. Provisions of the Regulations come into force starting from, July 22, 2012. (Governmental Decree No. 541 dated July 18, 2011, Official Gazette of the Republic of Moldova No.118-121 of July 22, 2011).

7. There were modifications made in the Law on state social insurance pensions No. 156-XIV of October 14, 1998 (republished in the Official Gazette of the Republic of Moldova, 2004, No. 42-44). According to these modifications, starting from July 1, 2011 the pensionable service necessary for obtainment of the right to old-age pension was increased. Pension age will be increased gradually - by 6 months each year, until reaching the pensionable service of 35 years both for men and for women. Pension age for judges, prosecutors and public officers was also increased by 6 months a year, until reaching the level of general pension age of 57 years for women and 62 years for men. (Law No. 56 of June 9, 2011, Official Gazette of the Republic of Moldova No. 107-109 of July 1, 2011).

8. The Law on the roads No. 509-XIII of June 22, 1995 was also modified and complemented. Introduced regulations establish classification of roads, obtainment of authorization and conditions of arrangement of objects in the zone of a public road and/or zones of protection of such, requirements imposed on owners and users of land lots in the zones of protection of roads, etc. (Law No. 85 of July 7, 2011, Official Gazette of the Republic of Moldova No. 122-127 of July 29, 2011).

 

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