At today's session, the Bill on amendments to the Law on Corporate Income Tax was adopted, which will be submitted to the National Assembly for adoption.
The most significant amendments are: prescribing the obligation of a resident legal entity, considered the ultimate parent legal entity of an international group of related legal entities, to submit an annual report on controlled transactions taking place within the group, bearing in mind that Serbia, as member of the BEPS Inclusive Framework (Action Plan on Base Erosion and Profit Shifting) has committed to comply with the minimum standards of the BEPS Action Plan.
The Bill on amendments to the Customs Tariff Act was also adopted, which allows for the import of agricultural and forestry tractors for the industrial assembly of all powers (in addition to the existing power from 18 to 37 kW) at lower customs tariff rates.
The Bill on amendments to the Law on Taxes on the Use, Holding and Carrying of Goods was adopted, which provides that as of 1 January 2020, an exemption from the tax on the use of motor vehicles will be introduced - for motor vehicles of which one of the plants is electric (hybrid vehicles).
At the session, the Bill on the confirmation of the Agreement on Cooperation between the Government of the Republic of Serbia and the Government of the Republic of Turkey in the field of water was adopted, which, after its adoption in Parliament, enables its entry into force.
Based on the assessment of local self-governments, the government has allocated additional funds under the state programme of renovation of public buildings for public use in the field of education, health and social care, damaged or destroyed due to the effects of floods and hail in May and June 2018, in the amount of RSD 10 million.
Due to the volume and complexity of flood relief work, further development of the required project documentation and unforeseen and additional works that need to be performed, these funds will be sent to local governments, which are obliged to complete the works within the prescribed deadline - by 31 December 2019.
At today's session, the Decision on the formation of the Committee for Monitoring the Implementation of the Programme for Promotion of Entrepreneurship and Self-Employment was adopted.