At the request of the business community

The deputies discussed at the plenary session on the 26th of October the amendments to the Law of the PMR “On Accounting and Financial Reporting”. This law-in-draft was developed on the basis of requests from Pridnestrovian entrepreneurs with a request to resolve emerging issues related to the need to provide financial statements to organizations in the process of liquidation.

“In accordance with the provisions of the Law “On Accounting and Financial Reporting”, all organizations are required to provide financial statements. Organizations that are in the process of liquidation at the same time provide an interim liquidation balance sheet and a liquidation balance sheet that are more procedural documents rather than financial statements. The legal nature of financial statements and interim liquidation and liquidation balance sheets is different from each other, as it is regulated by the legislation of various areas”, said Deputy Minister of Economic Development Maria Glushkova.

The initiative of the Government proposes the specifics of the preparation legislation and presentation of financial statements in the liquidation of legal entities. In particular, to determine what period is considered a financial year, by whom the last financial statements should be prepared and on the basis of what documents. The deputies supported the law-in-draft in the first reading and will continue to work on it in the second reading.