{"id":443265,"date":"2017-01-12T18:05:42","date_gmt":"2017-01-12T18:05:42","guid":{"rendered":"http:\/\/www.moldova.org\/en\/?p=443265"},"modified":"2017-01-12T18:05:42","modified_gmt":"2017-01-12T18:05:42","slug":"moldovan-civil-society-asks-us-government-express-position-capital-liberalization-law","status":"publish","type":"post","link":"https:\/\/www.moldova.org\/en\/moldovan-civil-society-asks-us-government-express-position-capital-liberalization-law\/","title":{"rendered":"Moldovan civil society asks the US Government to express a position on the “capital liberalization” law"},"content":{"rendered":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

18 Moldovan NGOs are asking the US Government<\/a>, in a letter to the US Ambassador James D. Pettit, to take an attitude and express its position on the draft law on the so-called “Capital liberalization and fiscal stimulus”.<\/p>\n

The representatives of the Moldovan civil society consider the adopted of the capital liberalization act as inadmissible, because it\u00a0would legalize ellegalitis, would present a legalized form of money laundering, compromise anti-corruption reform and the process of consolidation of the rule of law <\/em>in Moldova, especially in the context of the recent bank frauds.<\/p>\n

The draft Law releases from liability any physical person and legal entity that illegally gained their property and assets, including the billion-dollar banking system fraud in the Republic of Moldova, in exchange for a 2 percent fee to the state from the total value of the undeclared assets.
\nIn addition, an amendment would prevent the newly established National Integrity Authority from verifying “legalized”<\/em> property that belongs to public servants and persons with public dignity.<\/p>\n

The Moldovan NGOs believe that this draft law should be analyzed by the US authorities through the prism of the Magnitsky Act,\u00a0as the adoption of such a law could transform the Republic of Moldova into an attractive place for those interested in the legalization of illegally obtained funds, not only regionally, but also on a global level, obstructing in this manner the application of the Magnitsky Act.<\/em><\/p>\n

United States Government is thus expected by the Moldovan NGOs to come with a clear statement that would warn the Moldovan Parliament about this harmful law.<\/p>\n

The law authored<\/a> by five deputies of the Parliament of Moldova proposes to install a state of liberalization of capital and fiscal stimulation for persons to declare capital that they previously hid or attributed to other persons. Moreover, the enterprises would be exempted from paying penalties, fees and unpaid taxes. Everything in exchange for a 2% tax.
\nAnother law proposed<\/a> by the same deputies led by speaker Andrian Candu states that the new \u201cliberalized capital\u201d belonging to public officials would not have to be declared to the National Commission of Integrity, the main controlling body of public integrity.<\/p>\n

There were several reactions to draft law<\/a>\u00a0on capital liberalization and fiscal stimulation:<\/p>\n

–30 Moldovan NGOs<\/a> condemned the capital liberalization law;<\/p>\n

-Representatives of the civil society and opposition parties protested<\/a> outside the Parliament building;<\/p>\n

–4 NGOs<\/a> from Romania asked the Romanian Government to consider suspending the loan to Moldova, if the law is adopted;<\/p>\n

-Romanian Member of the European Parliament, Siegfried Mure\u0219an, asked<\/a> the European Commissioner Jean-Claude Juncker to examine the draft;<\/p>\n

-Experts of the World Bank found<\/a> integrity risks in the draft law and suggested significant revision.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>18 Moldovan NGOs are asking the US Government, in a letter to the US Ambassador James D. Pettit, to take an attitude and express its position on the draft law on the so-called “Capital liberalization and fiscal stimulus”. The representatives of the Moldovan civil society consider the adopted of the capital liberalization act as inadmissible, […]<\/p>\n","protected":false},"author":6,"featured_media":442369,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,4],"tags":[],"class_list":["post-443265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-important-en","category-society"],"content_social_share":"Reading Time: <\/span> 2<\/span> minutes<\/span><\/span>

18 Moldovan NGOs are asking the US Government<\/a>, in a letter to the US Ambassador James D. Pettit, to take an attitude and express its position on the draft law on the so-called “Capital liberalization and fiscal stimulus”.<\/p>\n

The representatives of the Moldovan civil society consider the adopted of the capital liberalization act as inadmissible, because it\u00a0would legalize ellegalitis, would present a legalized form of money laundering, compromise anti-corruption reform and the process of consolidation of the rule of law <\/em>in Moldova, especially in the context of the recent bank frauds.<\/p>\n

The draft Law releases from liability any physical person and legal entity that illegally gained their property and assets, including the billion-dollar banking system fraud in the Republic of Moldova, in exchange for a 2 percent fee to the state from the total value of the undeclared assets.
\nIn addition, an amendment would prevent the newly established National Integrity Authority from verifying “legalized”<\/em> property that belongs to public servants and persons with public dignity.<\/p>\n

The Moldovan NGOs believe that this draft law should be analyzed by the US authorities through the prism of the Magnitsky Act,\u00a0as the adoption of such a law could transform the Republic of Moldova into an attractive place for those interested in the legalization of illegally obtained funds, not only regionally, but also on a global level, obstructing in this manner the application of the Magnitsky Act.<\/em><\/p>\n

United States Government is thus expected by the Moldovan NGOs to come with a clear statement that would warn the Moldovan Parliament about this harmful law.<\/p>\n

The law authored<\/a> by five deputies of the Parliament of Moldova proposes to install a state of liberalization of capital and fiscal stimulation for persons to declare capital that they previously hid or attributed to other persons. Moreover, the enterprises would be exempted from paying penalties, fees and unpaid taxes. Everything in exchange for a 2% tax.
\nAnother law proposed<\/a> by the same deputies led by speaker Andrian Candu states that the new \u201cliberalized capital\u201d belonging to public officials would not have to be declared to the National Commission of Integrity, the main controlling body of public integrity.<\/p>\n

There were several reactions to draft law<\/a>\u00a0on capital liberalization and fiscal stimulation:<\/p>\n

–30 Moldovan NGOs<\/a> condemned the capital liberalization law;<\/p>\n

-Representatives of the civil society and opposition parties protested<\/a> outside the Parliament building;<\/p>\n

–4 NGOs<\/a> from Romania asked the Romanian Government to consider suspending the loan to Moldova, if the law is adopted;<\/p>\n

-Romanian Member of the European Parliament, Siegfried Mure\u0219an, asked<\/a> the European Commissioner Jean-Claude Juncker to examine the draft;<\/p>\n

-Experts of the World Bank found<\/a> integrity risks in the draft law and suggested significant revision.<\/p>\n

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