Presenting tax reliefs and conditions for foreign investors at the Israeli Business Forum, Ilic said that the proof of attractiveness of the Serbian market is the growth in foreign investments, which are expected to reach some $2 billion this year.
He recalled that since 2001, when foreign investments stood at $100 million they grew continuously to reach $1.5 billion last year.
The Director of the Tax Administration briefed representatives of Israeli companies in Serbia about changes in the tax on citizens' income, reduction of tax rate on salaries from 14% to 12%, stimulation of employment of those below 30 years of age, employment of disabled persons, as well as about tax reliefs and tax loans for investing in special areas, such as agriculture, textile industry and similar.
Ilic stressed that the tax policy aims to stimulate investment in underdeveloped regions, where the corporate profit tax is reduced within two years, proportionally to its share in the company's overall profit.
Israeli Ambassador to Serbia Jafa Ben Ari said that 80 Israeli investors do business in Serbia. Last year, the value of trade exchange stood at $30.6 million, which is not much, as she said, but is still a significant increase in relation to 2002, when it was $12 million.
According to the Ambassador, Serbia exported to Israel goods worth $14.5 million, and imported $16.5 million.