Support for start-up entrepreneurs

The Parliamentary Committee on Economic Policy, Budget and Finance in the course of the meeting considered a number of legislations that amend the laws in the financial sector, and are aimed at supporting start-up entrepreneurs. Amendments to the law "On additional measures aimed at stabilizing the economy of the Pridnestrovian Moldavian Republic" were prepared by the Government. Deputy Minister of Economic Development Natalia Sitkina indicated that, according to the law-in-draft, start-up entrepreneurs will be given the opportunity to receive a grant from the state to create and develop their own business. The grant is a targeted gratuitous subsidy from the republican budget. There are clarifications. According to the law-in-draft, the provision of such a subsidy is possible only for certain types of activities, for example, for the purchase of equipment for production or the development of domestic tourism. The entrepreneur must contribute 20% of his own funds from the required amount, a grant is provided for 30% of the required amount. This will help aspiring entrepreneurs who do not have the full amount of initial capital to start a business. The Committee on Economic Policy will recommend to the Supreme Council to adopt amendments to the law in two readings at once. A table of amendments has been prepared for the second reading, which will enable legal entities operating under the simplified taxation system to switch to the general taxation system by March 31, 2023.

Deputy of the Committee on Economic Policy Yuri Kucherenko developed a legislative initiative to amend and supplement the Law of the Pridnestrovian Moldavian Republic "On currency regulation and currency control". The author of the law-in-draft explained in the course of the meeting of the relevant Committee, that the initiative is related to changes in logistics, complications in payment schemes and the fulfillment of contractual obligations that the economic agents of Pridnestrovie faced in 2022. The situation is not changing. It is proposed in this regard to supplement the norms of the law "On currency regulation and currency control" with the possibility of confirmation by residents and non-residents of obligations for the repatriation of foreign exchange funds when exporting goods, works, services from the PMR, as well as importing goods when importing to Pridnestrovie at the expense of previously transferred funds, exported (shipped) goods, performed works, rendered services in any other way in cases and in the manner established by the Central Bank.

In addition, it is proposed from 30 to 60 calendar days to increase the period during which resident legal entities, individual entrepreneurs and peasant (farm) enterprises are required to ensure the import of goods for import operations, pay for transport services in cash or return it to their accounts in Pridnestrovian banks. The Head of the Union of Industrialists, Agrarians and Entrepreneurs of Pridnestrovie Yuri Cheban noted that industrialists and entrepreneurs are waiting for the adoption of these changes.