Q:
A:
Finance Minister calls on UK investors to invest in Serbia
Belgrade,
9 November 2004
Serbian Minister of Finance Mladjan Dinkic and his associates met today with a delegation from the UK parliament headed by Foreign Affairs Committee President Donald Anderson.
The guests from Great Britain expressed interest in the expected pace of Serbia-Montenegro’s integration in the European Union (EU), as well as in the country’s tax policy, the impending introduction of the value-added tax (VAT) and comparative advantages of the Serbian market.
Dinkic said that the EU’s decision on the “two-lane track” approach for Serbia and Montenegro will facilitate their integration in the EU and speed up the drafting of the feasibility study.
He presented the UK parliamentarians with the Serbian tax regulations, including tax liabilities for employers opening new jobs. He also noted that the Serbian tax authorities are ready to introduce the VAT.
The Finance Minister recalled that the banking sector has gained full stability and that the grey economy has been reduced considerably, particularly in domestic cigarette smuggling, which decreased from 70 percent to the level of 5-7 percent.
Dinkic said that the Serbian government is resolute to conduct public administration reform and to restructure public companies, speed up the privatisation process and further attract foreign investments. He said that one of Serbia’s comparative advantages is the lowest rate of corporate profit tax in Europe, which amounts to only 10 percent.
Dinkic also called on UK investors to learn more about Serbia’s investment opportunities and to invest here. The two sides expressed satisfaction with forms of cooperation between Serbia and the UK, and expressed readiness to further deepen the cooperation.
Dinkic said that the EU’s decision on the “two-lane track” approach for Serbia and Montenegro will facilitate their integration in the EU and speed up the drafting of the feasibility study.
He presented the UK parliamentarians with the Serbian tax regulations, including tax liabilities for employers opening new jobs. He also noted that the Serbian tax authorities are ready to introduce the VAT.
The Finance Minister recalled that the banking sector has gained full stability and that the grey economy has been reduced considerably, particularly in domestic cigarette smuggling, which decreased from 70 percent to the level of 5-7 percent.
Dinkic said that the Serbian government is resolute to conduct public administration reform and to restructure public companies, speed up the privatisation process and further attract foreign investments. He said that one of Serbia’s comparative advantages is the lowest rate of corporate profit tax in Europe, which amounts to only 10 percent.
Dinkic also called on UK investors to learn more about Serbia’s investment opportunities and to invest here. The two sides expressed satisfaction with forms of cooperation between Serbia and the UK, and expressed readiness to further deepen the cooperation.
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