Workbooks to be removed in Moldova

Chisinau, 07 July /MOLDPRES/ – The legislature adopted a draft law that provides for the simplification of the financial reporting process and the gradual abolition of workbooks today.

According to the amendments made by the MPs to the Fiscal Code and the law on compulsory health insurance, the workbooks will be gradually excluded from 01 January 2019. The data entered in these documents will be stored in an electronic register which follows to be created.

The voted document today also stipulates that economic agents will be required to submit a single monthly FSIC16 report instead of the five, which were mandatory so far. The new report is due to be filed with the State Tax Service (SSS) by the 25th of each month.

The unified FSIC16 report will be based on the information in the five reports and will allow the elimination of duplicate data, thus reducing the volume of reporting indices by about 40 per cent.

So far, all Moldovan economic agents having employed persons were required to submit five different reports related to salary payments and related taxes: a statement on the amount of income paid and income tax at SFS, a statement on the calculation and the use of compulsory state social insurance contributions to the National Health Insurance Fund, a declaration of the insured person at CNAS, a report on the calculation of compulsory health insurance premiums, and a form showing the modification of labour relations between the employer and the employee.

The new amendments will enter into force on the date of its publication in the Official Journal.

(Reporter A. Zara, editor M. Jantovan)