Moldova's parliament on April 27 passed the second and final reading of a bill that radically changes Moldova's tax regime. The fiscal reforms had been proposed by president V. Voronin who said they would significantlly improve Moldova’s economic perspectives. The law package frees companies of a 15 percent tax on income if they reinvest profits, stipulates a tax amnesty, and guarantees the legalization of previously undeclared assets at a cost of 5 percent of their value.
Dissenting members of parliament argued that the reforms legalize theft, are intended to increase the funds of Voronin's Communist Party, and would fail to boost the economy. The plans have received a mixed response from observers, some pointing out that Moldova's income-tax rate is already low.
The newspaper "Moldavskiye vedomosti" dubbed the reforms Voronin's "New Economic Plan," alluding tongue in cheek to Lenin's economic policy in 1921 that reinstituted limited private ownership in the wake of Russia's civil war. The author viewed the new law - "to transform the country into an offshore center" - as the expression of the "ruling clan's wish to rob people and control financial flows."