Q:
A:
Two state owned banks to be put up for sale
Belgrade,
22 September 2004
Serbian Assistant Minister of Finance Goran Andjelic has said the state will call tenders to sell its stakes in Novosadska Banka and Kontinental Banka later this month, adding that some foreign banks have already shown interest.
Bids will be invited through advertisements in London’s daily newspaper The Financial Times on September 24 and in Belgrade’s Politika on September 27, according to Andjelic.
He told a press conference at the main government building today that the state owns 82.79 percent of Novosadska Banka and 98 percent of Kontinental Banka, adding that the ministry expects “substantial receipts” from the sell-offs.
Andjelic also said that the state has spent €1.7 million to repay this year’s installment of the debt from the 1990 Loan for Serbia’s economic revival, and he recalled that 1.3 billion dinars have been paid in wheat premiums to farmers.
At the same press conference, Serbian Tax Administration Director Vladimir Ilic said that to date, around 5,000 taxpayers have applied for value added tax (VAT). This represents only seven percent of those who will be subject to the new tax, due to be introduced on January 1, 2005.
He said that there are between 80,000 and 100,000 prospective taxpayers of VAT in Serbia and that they have been given a September 30 deadline to apply for taxation or face severe fines, ranging between 100,000 and one million dinars.
He told a press conference at the main government building today that the state owns 82.79 percent of Novosadska Banka and 98 percent of Kontinental Banka, adding that the ministry expects “substantial receipts” from the sell-offs.
Andjelic also said that the state has spent €1.7 million to repay this year’s installment of the debt from the 1990 Loan for Serbia’s economic revival, and he recalled that 1.3 billion dinars have been paid in wheat premiums to farmers.
At the same press conference, Serbian Tax Administration Director Vladimir Ilic said that to date, around 5,000 taxpayers have applied for value added tax (VAT). This represents only seven percent of those who will be subject to the new tax, due to be introduced on January 1, 2005.
He said that there are between 80,000 and 100,000 prospective taxpayers of VAT in Serbia and that they have been given a September 30 deadline to apply for taxation or face severe fines, ranging between 100,000 and one million dinars.
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