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Budget system bill for better controls on public spending
Belgrade,
13 July 2009
Serbian Minister of Finance Diana Dragutinovic said today that the adoption of the budget system bill will create conditions for the improved monitoring and controlling of public spending and allow better review of the financial situation.
Diana Dragutinovic
Author:
Tanjug
Speaking at the Serbian Parliament, Dragutinovic said that the solutions offered in the bill are comprehensive and regulate the planning and adoption of the budgets of local authorities and the organisation of obligatory social insurance.
The Minister said that the bill is a basis for a thorough analysis of all the direct and indirect budget beneficiaries.
The Minister said that the most important introduction is that a memorandum will decide the midterm framework for expenditures with established limits on funds for budget beneficiaries for the budgetary year and the next two fiscal years.
She explained that according to the bill it will be possible to include all beneficiaries of public funds in a consolidated treasury system and a memorandum will be far more important because it will include a more detailed consolidated budget which will make it possible to have a better estimation of the fiscal policy.
She said that amendments to the law on administrative taxes have been harmonized with the law on political parties, adding that the amendments introduce taxes for forming a political party. She said that the changes are focused on reducing intellectual property taxes by 50% as well as taxes on international public transportation licenses. Taxes will also not be payable on certificates submitted for civil registration services and those required for passport issuance.
Amendments to the labour law envisage one change resulting from the crisis, said Dragutinovic, adding that it is envisaged that paid leave of absence can be longer than 45 days and during this period salaries will be paid at a rate of 60% of average income during the past three months.
She said that amendments to the law on administrative taxes have been harmonized with the law on political parties, adding that the amendments introduce taxes for forming a political party. She said that the changes are focused on reducing intellectual property taxes by 50% as well as taxes on international public transportation licenses. Taxes will also not be payable on certificates submitted for civil registration services and those required for passport issuance.
Amendments to the labour law envisage one change resulting from the crisis, said Dragutinovic, adding that it is envisaged that paid leave of absence can be longer than 45 days and during this period salaries will be paid at a rate of 60% of average income during the past three months.
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