The order should be considered by the MPs till September 25 of the current year taking into account its repeated submission. The Presidential Press Office reminds that a similar legislative initiative has already been submitted to the Supreme Council by the President, but the MPs haven't endorsed it.
Adoption of this bill provides creation of a legeslative mechanism making it impossible to dodge taxes, excluding unreasonable fiscal privileges for the offshore economic agents earning their income in the territory of the Pridnestrovian Moldavian Republic. Besides, the document is aimed to protect Pridnestrovie's national economy from negative influence of the offshore business.
Offshore levy assumes introduction of a special duty imposed on the offshore transactions. However, the rate limit mustn't exceed 10 percent.
It is noted in the bill that the legal entities which were created according to the Pridnestrovie's legislation or the legislation of the foreign states, affiliates and offices of legal entities, natural persons, carrying out business activity without registration of a legal entity (individual entrepreneurs), will be considered as entities for the offshore taxation. The offshore entities' funds transferred to the nonresident registered offshore, non-monetary assets and liabilities before the nonresident registered in the offshore zone and some other represent the offshore taxation objects.
«According to the statistics of the Pridnestrovie’s Republican Bank of 2012−1H2015, 1 billion 328 million USD were transferred to the offshore companies, however, at the same time, tax revenues from the offshore residents amounted to 1 billion 15.6 million USD. The sums transferred to the offshore companies with accounts in banks located abroad exceeded the revenue, received from those offshore companies' foreign bank accounts, by 292.8 million USD in the above-mentioned period," it is noted in the explanatory notes to the bill.
It is emphasized in the document that, according to the experts' estimation, if maximum rate were 10%, the offshore taxation, for example, in 2014 would have amounted to about 24 million dollars.
It is expected that the revenue received through the offshore tax will go to the republican budget — to the Social Stabilization Fund. Repayment of the state debt and co-financing of the current payments to the public sector workers and pensioners will be the main directions of expenditure.
