The Republic of Moldova will provide information to other states regarding the financial accounts of foreign residents
The Republic of Moldova will provide, to the competent authorities of foreign states, information of a financial nature regarding the accounts opened or closed by residents of other states. At the same time, the authorities will be able to obtain the same information regarding the accounts held by our citizens in other countries.
The information will be transmitted by September 30 of the following calendar year for the information related to the previous calendar year, reads a press release from the Government. The provisions can be found in the draft law on the approval of the Multilateral Agreement of the Competent Authorities for the Automatic Exchange of Information on Financial Accounts, approved today by the Cabinet of Ministers. The automatic exchange of information on financial accounts aims to make capital flows from abroad more transparent, improve tax compliance both nationally and internationally, encourage the declaration of income by taxpayers, as well as voluntary We remind you that the Republic of Moldova became a member of the Global Forum on transparency and exchange of information for fiscal purposes of the Organization for Economic Cooperation and Development in 2016. By joining this organization, Chisinau assumed the commitment to implement the two international standards regarding transparency and exchange of information: exchange of information on request (EOIR) and automatic exchange of financial account information (AEOI).
