Economics

STANDING COMMITTEE APPROVES BILL ON MOLDOVA DE-OFFSHORIZATION

19 september, 2019

The parliamentary Standing Committee on Economy, Budget and Finance approved on Wednesday draft legislative amendments, which imply that legal persons from offshore zones are prohibited to participate in privatization, public-private partnership, public procurement and concessions.

"The bill on de-offshorization is directed to changing the national legislative basis for ensuring efficient and comprehensive fulfillment of Moldova's liabilities in the field of money laundering, implied in the EU-Moldova Association Agreement", says the explanatory note to the document.

Chairman of the committee Igor Munteanu said that according to the Global Finance Integrity research, annually the flows of illegal money and capital reach around US$1.2 billion.

The draft law implies that the Government has to develop the methodology of establishing jurisdictions, which do not meet international transparency standards, and make a list of such.

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