The fight with the useless bureaucracy continues. Moldovan companies with a turnover of up to 18 million lei will have to submit only one annual report. This will save entrepreneurs millions of hours of work annually, according to the Minister of Economy.
The government came up with the initiative to simplify the way companies report and reduce reporting to the state to just one annual document.
In this sense, there was a meeting of the working group, made up of representatives of the Ministry of Economy, the Ministry of Finance, the State Fiscal Service, the Economic Council under the Prime Minister, the European Business Association, the American Chamber of Commerce, the Investors Association Foreigners and the Alliance of Small and Medium Enterprises and the National Bureau of Statistics.
The discussions focused on revising the reporting system and simplifying it to a single report, for companies with a turnover of up to 18 million lei per year.
The need comes from the high costs and time that businesses incur in creating a large number of reports.
With reporting simplified, entrepreneurs can become more efficient. Thus, the lack of excessive bureaucracy will encourage business representatives to act legally and make progress.