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Tax & Legal Committee held its ordinary meeting on Thursday, May 20

May 20, 2010

AmCham Tax & Legal Committee held its ordinary meeting on Thursday, May 20.

Committee's members discussed the new draft of the Tax policy objectives for the years 2011-2013, as well as the status of AmCham recommendations in this respect. Along with that, they have also analyzed the problems businesses are facing in the field of state inspections. See more details below.

I The Agenda of the meeting was as follows:

1) Introduction
2) Strategical Objectives of T&L Committee for 2011:

a. Improvement of the Moldovan T&L framework, i.e.:

1. improvement of the VAT refund framework,
2. implementation of the binding tax ruling concept,
3. promotion of the DTT network enlargement (e.g. US),
4. involvement within the review of the drafts Fiscal and Customs Procedural Codes,
5. improvement of the immigration related framework,
6. amendment of the tax treatment applicable for expenses with CSR related activities / insurance, etc.

b. Initiation of an active networking with AmCham offices in other countries (i.e. promotion of Moldova, best practice
exchange on various T&L issues, etc.)

c. Assurance of an active participation of AmCham within external events

3) AmCham Web-page
4) Discussion on the suggestions to the new Draft VAT refund Regulations
5) Analysis of the new (May) Draft fiscal policy for 2011, as well as the taken into account / still open AmCham recommendations
6) Discussion on state inspections related issues
7) Planning of future T&L actions, particularly, meeting with Victor Barbăneagră, the Deputy Minister of Finance (MF)

II Analysis of the new Draft fiscal policy for 2011

Taking into consideration the document regarding the new fiscal policy for 2011 and the fact that it was recently received, it was proposed to postpone the analysis and to come back with this matter at another Committee meeting (27 May, 16:00), where exact recommendations from AmCham will be proposed.

III Meeting with Victor Barbăneagră, the Deputy Minister of Finance

Victor Barbăneagră, the Deputy Minister of Finance agreed to meet Committee members on 21 May, 10:30 a.m. For the meeting with Deputy Minister of Finance, the Committee members agreed to focus their attention on:

• VAT refund aspects
• Binding Tax ruling
• MD-USA DTT
• Tax regime related to Philanthropy and Sponsorship
• Home Computing Initiative

Thanks to all Committee members for their active participation.


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