ACI Partners: Legal Flash No. 3

ACI Partners: Legal Flash No. 3

• 15.02.2016

This Legal Flash No 3 brings you the latest news on amendments in the Law on financial institutions and informs of the Ministry of Finance explanations given on application of certain amendments to the Tax code related to deduction of expenses and VAT amounts.

Law No 242 amends, among others, the Law on financial institutions. The amending law stipulates that commercial banks shall present to the Ministry of Finance, according to Law on public sector debt, state guarantees and state on-lending (No 419 dated 22 December 2006) such information on loans granted to state/municipal enterprises, commercial companies whose capital is public (entirely or majorly), administrative-territorial units, which is necessary to monitor public sector debt.
The Information aims to explain the particularities of application of certain provisions of the Tax Code introduced by Law No 71 dated 12 April 2015. The Information, inter alia, refers to the specific application of the rules on the deduction of expenses and amount of VAT related to maintenance, operation and repair of vehicles used by persons specified in minor groups 112 and 121 of Classification of Occupations in Moldova.

Read the full information in English or Romanian

ACI Partners

ACI Partners is a dynamically growing Moldovan law firm with an expanding network of partners throughout Europe. ACI Partners was established by separation of the legal business from Ernst & Young Moldova and as such it draws from the latter|s long-acknowledged ability to offer competent advice. ACI Partners’ business strategy is to deliver a solid and reliable service, which the clients may turn to whenever they need. To reach this goal, ACI Partners employs a personalized approach to each client, showing a genuine respect for their values and unqualified commitment to their interests and needs, steadily investing in knowledge and data management and ensuring a working environment consistent with their clients’ quality demands and high expectations.