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LAW OF THE REPUBLIC OF MOLDOVA

of November 3, 1995 No. 626-XIII

About the free enterprise zone of Tvardits *

(as amended on 25-11-2004)

The parliament adopts this law.

Article 1. General provisions

(1) within the territory occupied by collective agricultural enterprise "Tvarditsa" the free enterprise zone of Tvardits (further - free zone is created) for the term of 30 years.

(2) For the purpose of creation and functioning of free zone the parcel of land Ploshchad 3,57 of hectare which is under authority of primeriya of the village of Tvarditsa of the area Tarakliya for implementation of activities for social and economic development of the territory of free zone is transferred to use of its Administration.

(3) Borders and configuration of free zone are specified in cadastral plans of these territories constituted according to the cadastral legislation and this law.

(4) the Rights and obligations of Administration of free zone as the land user are regulated by the land legislation.

Article 2. Management of free zone

(1) For management of free zone the Government forms the state body which is referred to as with Administration, having the status of the legal entity and operating on the principles of self-financing.

(2) the Structure, functions and amount of powers of Administration are established by the Law on free enterprise zones and the Regulations on the free enterprise zone of Tvardits approved by the Government.

Article 3. Activities in free zone

The procedure for selection of residents, the permitted types of activity, the customs, tax, currency, visa and registration modes, employment relationships and social protection in free zone are established by the Law on free enterprise zones.

Article 4. Termination of activities of free zone

(1) the Free zone stops the activities after functioning term.

(2) After the termination of activities of free zone physical persons and legal entities - the former residents can continue the business activity in accordance with general practice, stipulated by the legislation the Republic of Moldova on the corresponding timepoint.

Article 6-1. Currency mode

(1) Cash calculations in free zone are perfromed in national currency.

(2) Clearing settlements between Administration of free zone, residents of free zone and business entities of the Republic of Moldova are performed in any currency according to the list of National Bank of Moldova.

(3) Compensation of persons working in free zone is made in national currency.

Article 5. Guarantees in case of change of the legislation

In case of adoption of the new legal acts worsening conditions of activities of residents of free zone regarding the customs and tax modes provided by this law, residents have the right within ten years from the date of their introduction in force to be guided by the legislation of the Republic of Moldova existing on the date of their registration in free zone.

Article 6. Transitional and final provisions

(1) Before transition of the Russian Federation and the Republic of Belarus to tax regime to value added and excises by the principle of the destination the goods, works and services coming from the Russian Federation and the Republic of Belarus, exported from free zone on customs area of the Republic of Moldova are not assessed with the value added tax. Goods (products), the works and services happening from the territory of the Republic of Moldova and exported through free zone to the Russian Federation and the Republic of Belarus are assessed with the value added tax and excises by the principle of the place of origin.

(2) to the Government:

in a month:

- provide to Parliament of the offer on introduction of amendments to the legislation according to this law;

- bring the regulations into accord with this law;

- appoint the chief manager of free zone;

- approve Regulations on the free enterprise zone of Tvardits;

in two-month time to register collective agricultural enterprise "Tvarditsa" as resident of free zone.

(3) This law becomes effective from the date of publication.

_______________________________________

* N1546-XIII of 25.02.98 - the Official monitor, 1998, is repeatedly published by N26-27, of Art. 176 based on the Resolution of Parliament of the Republic of Moldova.

 

Vice-chairman of Parliament

Dumitra Motspan

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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