News: Moldova Will Take Measures Against Offshore

The head of the parliamentary commission on economic issues of Moldova, Igor Munteanu, said that the government plans to introduce a number of measures to deoffshorize the economy. The official noted that the investigation, which the commission had conducted, showed offshore damage to the state budget of the republic of $ 10 billion.

Munteanu said that the investigation had been conducted with the involvement of foreign experts. It became known that companies had privatized state assets and transferred them to other jurisdictions. Then, through such organizations, bulk purchases were made, which is why the budget did not receive significant amounts of taxes.

An expert report showed that Moldova’s budget lost about $ 1.2 billion annually. Losses over the past 10 years amounted to $ 10-12 billion. Half of this amount is imports through offshore companies. In connection with these results, the government plans to take a number of important deoffshorization measures. In particular, the authorities are developing a bill according to which a legal entity from offshore jurisdictions will not be able to carry out public procurement.

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