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What does MOLDOVA IT PARK represent?

Mar 2, 2020 By

Through Moldova IT Park you can access the best services in IT sector. It is a unique virtual structure which operates in a multi-stakeholder governance model.

IT Park provides an organizational platform with a set of innovative tools and new approaches to accelerate, in a coordinated manner, the transformation of the economy, streamlining corporate innovation practices, boosting the growth of the IT industry, supporting partnerships, creating new job and attracting local and foreign investment.

In the current worldwide entrepreneurial renaissance, Moldova IT Park is set to pioneer the country economic development by leveraging the disruptive nature of technologies in uncertain times.

Benefits of being IT Park resident

Moldova IT Park is offering 2 key benefits for the investors in the IT industry:

•    Virtual operating regime implies that the entity can be located anywhere on the territory of the Republic of Moldova.

•    A single tax of 7% on the sales revenue, but not less than a minimum amount per employee. The target amount is 30% of the average monthly salary in the economy, projected for that year.

The single tax includes the following taxes and duties:

  • Social security (employee and employer);
  • State budget (personal income tax, corporate income tax, road tax);
  • Medical insurance (employee and employer);
  • Local budget (local tax, real estate tax).

Benefits for the employees

The employees of companies benefit from tax exception by the rule ”Brutto (gross) salary = netto (net) salary”. While being exempted from the tax burden, they continue benefiting from social insurance in the amount of 60% of the average salary on the economy (approved on the yearly bases by the government). All extra financial incentives employees get (as wage bonuses, premiums, etc.) are not being subject to additional taxation.

According to the art.16 of the Law nr.77/2016, the company shall notify its employees, in written form, about the social and medical insurance provided by this article as well as the particularities referred to charging the income tax from the salary until the date of obtaining the title of the resident of the park and in case of new employees – until employment.

Who can apply?

If you want to apply to become a resident of the IT Park, you should:

•    be a legal or natural person who is registered in the Republic of Moldova as a subject of the entrepreneurial activity;

•    be ready to sign at least a four-year contract with the IT Park management;

•    practice at least one of the following business activities:

–    computer programming activities;

–    publishing of computer games;

–    other software publishing (non-customized);

–    computer facilities management;

–    data processing, hosting and related activities;

–    web portals;

–    computer consultancy activities;

–    other IT and computer service activities.

As an impartial institution that combines the power of the public and private sectors, Moldova IT Park can turn into a cluster facilitator and the main economic power centre with efficient solutions for sector development. Therefore, the number of registered residents exceeded 500 companies, this being a considerable indicator of the increased confidence towards IT Park.

If you are interested to be a part of Moldova IT Park we are more than willing to assist you in this regard.

Author: 

Ilona Nicula
Managing Partner
Popa & Associates
office@popa.md