On December 1, 2016, the draft law on capital liberalization and fiscal stimulus is registered in the Parliament of the Republic of Moldova. 

The authors of the draft law mention that it seeks to improve the business climate and increase investments in the entrepreneurial activity.

According to the document, any individual would be able to declare his assets that are currently either unregistered or registered via a third party, for a fixed fee of 2% of the assets’ value.

December 16, 2016

The Parliament of the Republic of Moldova approves, in the first reading, the draft law on capital liberalization and fiscal stimulus (no. 452) and the draft law on the amendment and completion of several related legislative acts (no. 451).

December 18

Representatives of the civil society and financial experts send to the Parliament of the Republic of Moldova a comprehensive position note, expressing their major reservations concerning the fiscal and capital amnesty, and requesting the withdrawal of the draft laws no. 451 and 452. 

The signatories also call for “extensive and transparent consultations with the civil society, development partners, business community and other relevant stakeholders for fundamentally adjusting the respective draft laws, in order to permanently exclude the identified risks, mentioned in the position note, as well as other risks highlighted by other actors”.

Among the signatory organizations are:

  1. the Independent Think-Thank “Expert-Grup”
  2. the Legal Resources Center from Moldova (CRJM)
  3. the Association for Efficient and Responsible Governance (AGER) 
  4. Transparency International – Moldova 
  5. the Association for Participatory Democracy (ADEPT) 
  6. the Institute for European Policies and Reforms (IPRE) 
  7. the Centre for Analysis and Prevention of Corruption (CAPC)

December 21 - 22

The project was severely criticized by the IMF and World Bank, which found that the project, in its proposed form, “would endanger anti-corruption measures and would hinder the fight against money laundering and fraud”.

February 3, 2017

CPR Moldova sends an address to the President of the Parliament, Andrian Candu, referring to the dangers that this draft law could cause if if would pass the second reading.

February 13

IDIS “Viitorul” publishes a comparative study between a tax amnesty law adopted in 2007 by the Communist government, and the 2016 draft law, promoted by the Speaker of the Parliament, Andrian Candu.

February 28

The draft law on capital liberalization and fiscal stimulus is permanently withdrawn from Parliament.

This result was possible due to the cumulated efforts of the civil society, as well as the position of Moldova’s development partners.