Corresponding amendments to the Law on Accounting and Financial Reporting will be considered tomorrow during the government meeting.
As previously reported by Logos Press, the Ministry of Finance made such a change in the criteria for determining the size of a company in accordance with the recommendations of Directive (EU) 2023/2775.
Inflation in the EU amounted to 27.2%
The need to adjust the financial thresholds is due to inflation. As noted in the EU directive, for 10 years (from January 1, 2013 to March 31, 2023), the accumulated inflation was 24.3% in the euro zone and 27.2% – in the EU as a whole.
In this regard, the European Commission recommended that the thresholds relating to the amount of balance sheet and turnover used to classify companies and groups of companies be adjusted by 25% and rounded upwards.
We remind that these changes are due to the ongoing harmonization of the Moldovan legislation in the field of accounting and financial reporting with the EU norms. They are included in the National Program of Moldova’s accession to the European Union for 2025-2029.
As a result of the adjustment of the financial criteria used to determine the size of an enterprise, the number of companies eligible to prepare simplified financial statements will increase.
