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LAW OF THE REPUBLIC OF MOLDOVA

of January 29, 1998 No. 1466-XIII

On regulation of repatriation of the money, goods and services received as a result of the external economic transactions

(as amended on 16-12-2020)

The parliament adopts this law.

Article 1. Purposes and scope of the law

(1) This law determines procedure for activities, the right, obligation and responsibility of business entities, bodies of public management in the field of repatriation of the money, goods and services received as a result of the external economic transactions.

(2) Main objectives of this law are protection of sovereignty and ensuring economic safety of the country, development of national economy by means of stimulation of foreign economic activity, ensuring repatriation of the money, goods and services received as a result of the external economic transactions.

Article 2. Basic concepts

In this law the following basic concepts are used:

the external economic transactions - transactions on export, re-export, import, reimport, barter, cooperation, leasing both any other external transactions and transactions;

repatriation of money - receipt at the scheduled time from nonresidents of money from commodity export, rendering services/works to nonresidents, and also from other external transactions and transactions into the accounts opened in licensed banks of the Republic of Moldova according to the amount of means specified in the customs declaration or with the cost of the rendered services or the performed works specified in supporting documents (the contract, acts of performance of works or rendering services, invoice/invoice);

date of repatriation of money - date of transfer of the arriving amounts into the account of the exporter or importer (financial defendant) in licensed banks of the Republic of Moldova;

repatriation of goods, services - implementation of the import provided by the external economic agreement;

date of departure of goods - date of execution of the customs papers confirming commodity export;

receipt date of goods - date of issue of goods Customs Services for free movement on customs area of the Republic of Moldova.

Article 3. Terms of repatriation of the money, goods and services received as a result of the external economic transactions

(1) Business entities are residents of the Republic of Moldova, irrespective of type of property and form of business, shall provide revenues to the accounts in licensed banks of the Republic of Moldova of export revenue, advance payments for unrealized import, perform commodity import and services as a result of payments in import or to repatriate cash and/or the appliances received as a result of other external economic transactions (further - repatriation cash and appliances), in the following terms:

a) according to purchase and sale agreements, barter and export agreements on commission basis - in time no more than three years from the date of departure of the corresponding goods or implementation of payment for goods;

b) under agreements of conversion - within three years from the end date of production cycle established in the agreement;

c) under agreements of leasing - when exporting subject of leasing from the Republic of Moldova payments are made in the terms established for implementation of payments according to conditions of agreements, but at least once within three years since date of export. When importing subject of leasing to the Republic of Moldova with advance payment according to the agreement of leasing import of this subject is made within three years from the date of introduction of payment;

d) in case of other external economic transactions which are not specified in Items a) - c), - within no more than three years from the moment of emergence of the right to money recovery as a result of the external economic transaction.

(2) the Money listed to nonresidents in advance for rendering services and not used in the terms provided by the external economic agreements, but no more than within three years from the date of transfer, is equated to the amounts which are not repatriated in time on other transactions and are exposed to penalties according to the procedure, provided by part (3) Article 5.

(3) in case of implementation of installation and construction works, "turnkey" commissioning of the objects, rendering the services/works to nonresidents performed with payment in time the three-year term of receipt (repatriation) of their cost in monetary or natural value estimated proceeding from the payment due dates provided in external agreements is established.

(4) According to the transactions providing according to agreements development of the project documentation, production, assembly and delivery technically of the difficult (non-standard) equipment and technical means, the term of repatriation of material values is determined date, established by contractual commitments.

(5) the Term of repatriation of goods is prolonged for the entire period of their storage under customs control on customs warehouses, except as specified their subsequent export according to customs regime.

(6) in case of commodity import for conversion in the Republic of Moldova business entities bear responsibility for receipt of equivalent of cost of the spent work and other production costs.

(7) Before adoption of the organic law o force majeur circumstances the Government is authorized to make in exceptional cases decisions on prolongation of terms of repatriation cash and the appliances received according to the external economic transactions of residents of the Republic of Moldova.

(8) repatriations cash and the appliances used for the purpose of are not subject:

a) developments of material and technical resources, covering of costs for repair construction works, operation of real estate, maintenance in working order, the repair and upgrade of the objects and production equipment which are in property of the residents of the Republic of Moldova or leased by them, but located in the territory of other countries;

b) social providing workers - citizens of the Republic of Moldova who work on the objects belonging to residents of the Republic of Moldova or leased by them, but located in the territory of other countries;

c) ensuring pledge of objects according to the agreements of leasing signed by residents of the Republic of Moldova - before the termination of effective period of agreements;

d) implementation abroad the transactions relating to direct investments and the real estate transactions specified in the Law on currency control No. 62-XVI of March 21, 2008.

Article 4. Control of repatriation of the money and goods received as a result of the external economic transactions

(1) Control of repatriation of the money, goods and services received as a result of the external economic transactions is performed by the State Tax Administration during conducting checks at business entities according to the procedure, established by the legislation.

(2) Control of completeness of commodity import and rendering services within export import is performed by the State Tax Administration based on information on the performed import provided by customs authorities, temporary export of the equipment, equipment, etc. for rendering services abroad.

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