The offshore secret will be annulled in a move to ensure maximum transparency in the activity of companies in the Republic of Moldova. Parliament on October 28 gave a final reading to such a legislative proposal and adopted it by 74 votes in favor, IPN reports.
The bill contains amendments to the law on the state registration of individual entrepreneurs and legal entities. Its main provisions oblige the Public Services Agency to ensure the availability of information about effective beneficiaries.
Under the document, there will be published the list of the effective beneficiaries of all the companies with founders in jurisdictions that do not ensure transparency. The citizens’ access to information from the State Register about the effective beneficiaries will be ensured by the Public Services Agency. This will be available on all the existing platforms where open data about companies are published.
The bill authors said such a law will help prevent corruption and tax evasions by promoting transparency in society and by ensuring and fully guaranteeing the people’s constitutional right to have access to information of public interest.
According to data presented by the sponsors, 12 640 917 039.56 lei from jurisdictions with an increased risk entered Moldova in 2017-2021, with 198 569 492.43 lei being transferred back to such jurisdictions.
