OREANDA-NEWS. November 08, 2013. The Cabinet has proposed to abolish the mandatory requirement for legal entities to have prints. This requirement will be considered as voluntary. In addition, the government proposed to abolish the requirement to open a temporary bank account and transfer to it at least 40 % of the share capital of the company.

The mandatory registration of a taxpayer in the tax authority only in case where the state identification number is not a fiscal code is also provided. The relevant amendments to the Tax Code, Civil Code, the Law on the basic principles of business regulation, the Law on Limited Liability Companies have been made in accordance with the road map of actions aimed at addressing critical constraints to the development of a favorable business climate for 2013-2014.

The amendments are designed to streamline the procedures, time and costs for entrepreneurs when starting up business and improve Moldova's position in the World Bank Doing Business.