Audit IT Park

In the digital age, the business environment in the IT sector is becoming increasingly important and complex.
In this context, we observe growth in IT companies and specifically more companies joining Moldova IT PARK, consequently conducting their activity as IT PARK residents, all these companies are required to perform the Annual Audit.

What is Moldova IT Park?

IT Park is an industrial park dedicated to IT companies, created to support development and innovation in the IT field.

Here, companies benefit from a favorable fiscal regime, specifically a single tax of 7% on income, significantly lower than that applicable in the standard fiscal system.
This tax includes most taxes and duties, such as payroll taxes and income tax, with a few exceptions like VAT and excise duties.
This fiscal incentive was created to attract investments and increase companies' competitiveness on the global market. Thus, IT Park becomes an innovative ecosystem supporting entrepreneurship and IT business development, contributing to the economic development of Moldova.

It's important to mention that the status of Moldova IT Park resident is exclusive to companies, such as LLCs or Individual Enterprises (I.E.). Individuals, such as freelancers or programmers working independently, cannot become residents of the IT park as individuals, to become members of IT Park they need to establish a company and submit an application to MITP (Moldova Innovation Technology Park).

What does the audit of IT Park residents' activity involve?

For all IT Park residents regardless of the number of employees, sales volume and value of assets held by the company, the annual audit remains mandatory.

This is one of the contractual conditions of the MITP Administration, created to verify the correctness and validity of established indicators.

Additionally, the audit for IT PARK companies is requested by MITP administration in 2 cases:

• The annual audit is mandatory and is performed each year after closing the financial year until April 30.

• Upon termination of the contract with MITP it's also necessary to perform the audit, usually this is done after receiving the termination decision from the IT Park administration.

How to understand if IT Park is right for you?

To help you better understand how taxes and duties apply to IT Park companies, we've developed an IT Park vs LLC calculator. This will allow you to compare fiscal costs and visualize which fiscal regime is more advantageous specifically for your company's situation.

How to start the audit process?

1. Ensure your accountant has closed the previous financial year.

2. Look for a reliable audit company operating under a legal license that allows performing audits for IT Park residents.

3. Request the quote and if the price suits you, sign the contract for performing the IT PARK Audit.

4. Monitor that the Audit report is completed, submitted and accepted by MITP within the established deadlines until April 30 (usually the audit is performed within approximately 15 calendar days from the contract signing date).

The audit at Ducont company is performed in a personal online cabinet where you fill in the necessary accounting data simply, quickly and comfortably without documents that need to be completed in Word or Excel and then submitted.

If you're interested in the cost of this service, you can access the price calculator for audit of Moldova IT PARK companies.