President of Association of Auditors and Management Consultants from the Republic of Moldova, General Director of audit company „Ecofin-Audit-Service” SRL, editor in chief of "Fin-Consultant" magazine, economist, Mr. Ion Prisacaru has signed a new original book, which has recently appeared at the publishing house ”Gunivas” – “Return to roots”. 
In March 2012, Audit firm „Ecofin-Audit-Service” SRL, became partner – member, of international network Crowe Horwath International. 
On 02.02.2012, during the award ceremony for “Brand of the year - 2011” contest, Ecofin-Audit-Service Ltd was awarded the “Mercuriul de aur (Golden Mercury)” Grand Prix for the “Financial Institutions, Products and Services” category, Socially Responsible Brand Nomination. 
We continue to inform you about the news, amendments and modifications introduced in the legislation of the Republic of Moldova within March 2011.
Amendments and modifications of legislation in next fields:
Enterpreneurship
1. Government approved the Decision on certain aspects concerning the repartition of annual net profit of the joint-stock company with the state's and public enterprises' participating due. According to the mentioned decision, ministries and central administrative authorities are obliged to realize within established terms a row of actions concerning calculation and payment by joint stock enterprises with the state's due on dividends, as well as payment to state budget of a share from the net profit obtained by public enterprises. (Government Decision No. 110 as of February 23, 2011, Official Monitor of the Republic of Moldova No. 34-36 as of March 4, 2011).
2. The National Commission of Financial Market introduced amendments and changes in the Decision on approving the type and content of specialized reports of intermediaries in insurance and/or re-insurance No. 45/5 as of October 16, 2009. Especially, it has been amended the Report on the basic activity of intermediary in insurance and/or re-insurance and Report on intermediary intermediary's activity in insurance and/or re-insurance through personal staff, assistants in brokerage and/or sub-agents. (Decision of the National Commission of Financial Market No. 52/12 as of November 18, 2010, Official Monitor of the Republic of Moldova No. 37-38 as of March 11, 2011).
3. At the same time, the National Commission of the Financial Market, approved the Regulation on insurance technical reserves. The regulation establishes the modes through which entities that carry out insurance and/or re-insurance form technical reserves for general and life insurances. The insurer is obliged to form and maintain enough technical reserves, the value of which would allow anytime fulfilling their commitments emerging from insurance agreements. The stipulations of this Regulation come into force on April 1, 2011 (Decision of the National Commission of Financial Market No. 1/5 as of January 11, 2011, Official Monitor of the Republic of Moldova No. 37-38 as of March 11, 2011).
Fiscal legislation
1. In order to ensure the fulfilling the obligation to invite the tax-payer in examining the contestation and ensuring the tax-payer's right to defense, the National Core Tax Inspectorate approved the model of Notice to examine the contestation by fiscal body. The mentioned notices will be issued in 2 copies, one of which shall be handed/forwarded to the invited person, and the second one shall be attached to the contestation submitted by tax-payer. The record on notices shall be kept by the Registry of notice records. (Order of the National Core Tax Inspectorate No. 125 as of March 1, 2011, Official Monitor of the Republic of Moldova No. 34-36 as of March 4, 2011).
2. The Constitutional Court declared as unconstitutional – Law No. 193 as of July 15, 2010 "on the amendment and filling of certain legislative acts", through which the Parliament introduced amendments and modifications in the Fiscal Code and Customs Code, in the matter concerning exemption from VAT on the trade of goods and services on basis of leasing (financial and operational) agreement, as well as non-payment of rights of import when introducing in free circulation of a leasing object when the leasing contract term expires. The reason of declaring as non-constitutional the mentioned law was the fact that it hasn't been communicated by the Government, although it causes consequences on budget income. Constitutional Court stated that, at the passing of Law No. 193, as of July 15, 2010, the Parliament disregarded the procedure of drafting and adopting amendments causing rise and reduction in incomes and budget expenses. Due to the same reasons it has been declared as unconstitutional the clause 1, letter (e) from the Appendix to the Law No. 451-XV as of July 30, 2001 "on the regulation through licensing of entrepreneurial activity" in the edition of the Law No. 176 as of July 15, 2010, through which the tax for maintenance of casinos with up to 6 desks, inclusively, from 360,000 lei per table to 180,000 lei per desk, and starting with the seventh – 360,000 lei (Decision of the Constitutional Court No. 5 as of February 18, 2011, Official Monitor of the Republic of Moldova No. 34-36 as of March 4, 2011).
Banks and banking activity
1. The Fund on deposit guarantees in banking system approved in new edition the Regulation on payment of guaranteed deposit by they Fund of deposit guarantee in banking system. It is worth mentioning that the Fund on deposit guarantee within banking system guarantees payment of deposits, including of owed and unpaid interest, in the amount of guaranteed limit established at the date of detecting deposit unavailability. Currently, the guarantee limit makes up 6,000 Moldovan lei (article 6 from the Law on deposit guarantee for individuals within banking system No. 575-XV as of December 26, 2003) (Decision of the Fund on deposit guarantee within banking system No. 119/1 as of February 25, 2011, Official Monitor of the Republic of Moldova No. 39 as of March 15, 2011).
2. Also, it has been modified the Regulation on the mode of calculation and payment by banks of transfers and contributions to the Fund of deposit guarantee in banking system. The amendments aim determination of calculation base of transfers and contributions to the mentioned Fund, as well as the mode and terms of banks' payment to the Fund (Decision of the Fund of deposit guarantee in banking system No. 118/1 as of February 18, 2011, Official Monitor of the Republic of Moldova No. 37-38 as of March 11, 2011).
Labour legislation
1. The Ministry of Labour and Social Protection and Family published the Information on the size of average month salary per country for the year 2010, the latter making up 2,971.7 lei. The mentioned amount of average salary shall be applied compulsorily at the recalculation of amounts for compensating the damage borne by citizens in connection with losing the ability to work or a certain professional illness, starting with April 1, 2011. Subject to recalculation are the initial amounts for compensation of determined damage according to the Rules of compensation, by companies, enterprises, organizations of the damages caused to workers and authorities as a result of mutilation and injuring in a different way of the health in connection with their realization of labour duties and payment by economic entities (Official Monitor of the Republic of Moldova No. 40-42 as of March 18, 2011).
