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State Institutions from the Republic of Moldova

28 March, 2024

ANRCETI Required JSC „Moldtelecom” Implement Separate Accounting for Activity

JSC „Moldtelecom” will create a separate accounting system in its internal accounting system and will publish annually, before 31 May, financial reports per services and business units for the year preceding the management. This obligation is laid down Instruction on implementation of separate accounting by Moldtelecom, approved by ANRCETI Administrative Board Decision (with the Annex in state language) of 22.04.2011. It entered into force on the date of adoption and will be published in the Official Gazette.

The Decision was developed under Art. 46 of the Law on Electronic Communications, previous decisions of the Board which required JSC Moldtelecom to keep separate accounting as the company has significant power on wholesale markets: voice call termination in its individual fixed telephone networks, access to network infrastructure at fixed location and broadband markets. Currently, the Agency is in the process of public consultations on analysis of the market for access to the fixed public telephone network, which shows that Moldtelecom has significant power on the retail market as well.

The Instructions provide guidance for JSC „Moldtelecom” on how to implement separate accounting, provide information on a separate accounting, check veracity of this information, for activities related to interconnection and access to the network or associated facilities. The Instructions also provide for the documents to be reported, format of separate financial reports and degree of detail, methodological principles for allocation of cost, revenues, assets and capital per activities and services and the deadlines for submission of such documents.

According to the instructions, JSC „Moldtelecom” is required to annually submit the following documents: (1) financial report comprising separate financial statements (per services and business units), additional financial statements and the audit report, (2) separate accounting methodology (3) report on the methodology of detailed allocation of costs, revenues, assets and capital.

The instructions state that Moldtelecom will first report on separate situations for 2010 by March 1, before May 31, 2012 they will submit consolidated financial reports for 2010 and 2011, then – every subsequent year, before May 31, for the year preceding the reporting one.

The obligation of separate accounting implementation by Moldtelecom is aimed at creating additional conditions to enhance competition on the electronic communications markets by ensuring transparency of the providers’ activity in these markets, non-discriminatory conditions for provision of interconnection and access services for competitors and eliminate the current practice of cross subsidization of services. Implementation of accounting system, which will include the separation of service costs, will allow a more accurately calculate charges for services provided to end users. The implementation of the separate accounting system, which will also include separation of costs per services, will enable more accurate calculation of tariffs for services provided to end users.

April 27, 2011

Changed: 29/04/2011