Moldovan government rules state-owned enterprises shall pay 50 per cent of profit to public budget

Chisinau, 22 April /MOLDPRES/ - Joint stock companies with state's controlling stake and the state-owned enterprises will have to allocate 50 per cent of their net profits from 2014 as dividends and deductions to the state budget. The cabinet of ministers approved a draft to this effect today.

At the today's cabinet meeting, Finance Minister Anatol Arapu said  that "the draft aims to ensure the accumulation of funds needed to finance and implement the government’s strategies and objectives and ensure the budget balance necessary to maintain a stable macroeconomic situation of the state".

Moreover, joint stock companies with state-owned shares and state-owned enterprises which, before the entry into force of this ruling, adopted the decision to distribute the net profit got in 2014, are to summon an extraordinary general meeting of shareholders to align with this decision in a one-month period.

At the same time, the draft states that insolvent companies, enterprises whose net profit was obtained after cancellation of debts; are subject to certain governmental decisions or agreements, which provide exemption from the concerned payments, shall  not pay dividends/deductions to the state budget.

(Reporter C. Russu, Editor A. Raileanu)