Individuals who until January 1 of the current year possessed funds larger than 500,000 lei will have to submit a declaration of their wealth to the fiscal authority by the end of 2012. If the sum was larger than 1 million lei, a confirmation of the availability of the declared sum should be attached to the declaration, reports Info-Prim Neo. The declarations should be submitted to the territorial fiscal inspectorates that serve the respective tax-payers. Gheorghe Cojocaru, deputy head of the Main State Tax Inspectorate, recalled that the indirect methods of estimating taxable individual income (Chapter 11 of Title V of the Fiscal Code) became effective starting with 2012. These methods are applicable to Moldovan citizens that don’t operate any entrepreneurial activities, and who during one fiscal year, starting January 2012, accumulate assets (realty, mobile assets, vehicles, funds) that cumulatively overcome the sum of 1 million lei, as well as people who have individual expenses, other than those specified, but over 500,000 lei. “The declaration of the availability of the funds will serve as proof of the accumulation of the declared sum by January 1, 2012. Available funds that are declared will not be subject to taxation”, specified Gheorghe Cojocaru. The declaration form can be downloaded for the State Tax Inspectorate website, and hardcopies are available at the territorial tax inspectorates. The mechanism of applying indirect estimation methods for the fiscal obligations for individuals has become effective on September 14. The principle on which the mechanism is based is to ensure equity among taxpayers.