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VAT law – crucial systemic legislation
Belgrade,
19 August 2004
Director of the Serbian Tax Administration Vladimir Ilic has presented the Law on value-added-tax (VAT), due to come into force on January 1, 2005, saying that it will harmonize the domestic tax system with the European one and reduce grey economy.
Ilic told a press conference yesterday that the VAT law is the most important systemic law, which will create a better business environment in the country next year and enable more efficient tax collection.
It will also help Serbia’s exporters to become more competitive, according to Ilic.
At the same time, VAT will open new possibilities for taxpayers, eliminating those firms that work in the “grey area” and represent unfair competition in the market.
It will also help Serbia’s exporters to become more competitive, according to Ilic.
At the same time, VAT will open new possibilities for taxpayers, eliminating those firms that work in the “grey area” and represent unfair competition in the market.
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