OREANDA-NEWS. December 21, 2011. This is provided by the amendments into Criminal Code adopted by the parliament in the second reading at the plenary meeting. Up to present, known misrepresentation of the information about incomes and expenses in accounting, fiscal and financing documents as well as concealment of other objects liable to taxation has been punished by fines at 1 to2 thou of conventional units or up to two year imprisonment.

The amendments provide fines at 2 to 3 thou. of c.u. and up to 3 years of imprisonment. Besides, the Criminal Code will include the new article according to which the conspiratorial misrepresentation of the information committed by a group of individuals will be fined at 3 to 5 thousand of c.u. or up to 6 years of imprisonment.

In both cases the law breakers will be deprived from the right to be in a certain offices or operate a certain activities for 2 to 5 years. For legal entities the fines will make up 3 to 6 thou. of c.u. and the legal entity is to be depriving from its right to operate the business or cancelled. The amendments also provide that the sum of hidden due to misrepresentation but liable tax will decline from 2,5 thou to 1,5 thou. c.u.

The amendments are determined to improve mechanisms of abating fiscal infringements committed by so called phantom firms due to fictitious activity of which the state budget looses billions of leis.