PPPDA suggests suspending fiscal penalties amid COVID-19 infection

MPs of the Party “Dignity and Truth Platform” Igor Munteanu and Alexandru Slusari propose suspending the fiscal penalties for companies that feel an additional burden as a negative effect of the spread of COVID-19. This is specified in a legislative proposal to amend and supplement a number of legal acts proposed in connection with the measures take to counteract the dangers related to the novel coronavirus pandemic and its consequences in Moldova, IPN reports.

According to the authors, the bill is designed to support the private sector. It contains amendments to the legislation concerning the activity of banks and adds provisions that allow providing state aid to the banks in pandemics, epidemic diseases, natural disasters and other exceptional situations with a considerable impact.

According to the MPs, this will enable the central bank to set down new prudential and share capital requirements for such emergencies so as to facilitate the provision of vacations on bank loans and other concessions to business entities affected by unplanned consequences in the process of repaying bank loans.

It is also proposed introducing several new provisions in the Fiscal Code by which to improve the situation of the private sector in case of overdue payment of taxes and other fiscal obligations following the circumstances caused by such emergencies as the COVID-19 pandemic.

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