OREANDA-NEWS. December 06, 2012. New rules are introduced in Moldova to ensure as high as possible transparency in key branches of the national economy and restrain using of offshore schemes. This is stipulated by the Plan of Action developed by the Ministry of Finance on a base of results of work of a special working group created by Premier of Moldova Vladimir Filat to respond to corruption and tax evasion and eliminate phenomena encouraging the shady economy.

Members of the working group were to develop the plan of action for introduction of new rules hampering tax evasion and money laundering and ensuring transparency of the makeup of shareholders in such important economic branches as banking and non-banking sectors, energy sector and mass media. Measures of the Plan of Action will make it possible for controlling bodies to request for and disclosure names of real owners of companies or amounts of shares they hold regardless their geographic location.

The right will be given to the National Bank of Moldova, the National Commission on Securities, the Coordinative Council on TV and broadcasting, the National Energy Regulatory Agency to request for full information about the makeup of current or possible shareholders in companies they are authorized to supervise. The transparency of drawing public money is to be increased: the matter concern public procurement and financial and economic activity at public-owned companies and stock associations with the complete or major public shareholding.

First of all, new requirements will be applied to companies registered in offshore areas but operating in Moldova. Like other economic agents, regardless their origin, these companies will have to disclose names of their official founders. Non-disclosure of this information is to be sanctioned. The information disclosed will not be a base for revocation of licenses and other sanctions, but will make it possible for MIA, the National Anti-corruption centre, the Fiscal service, the Customs service, the Competition Council to use their powers to protect interests of consumers.

Earlier Premier of Moldova Vladimir Filat spoke for passing the law debarring legal entities and individuals registered in offshore areas from taking part in equity capitals of financial institution, organizations of state strategic importance, mass media and in economic processes connected with drawing of public funds.

Theses measures are aimed at combating against corruption and tax evasion and eliminating phenomena encouraging the shady economy.