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Finance Minister presents set of finance-related bills
Belgrade,
2 April 2004
Serbian Minister of Finance Mladjan Dinkic has presented a set of finance-related bills that the Serbian government forwarded to the parliament yesterday.
Mladjan Dinkic
Author:
FoNet
Dinkic said that a bill designed to regulate the repayment of the so-called loan for Serbia’s economic recovery envisions that the €56 million debt will be repaid by August 1, 2007. Some €13 million will be set aside from the state budget in this year alone, according to Dinkic.
Dinkic also said that a bill to amend the current Law on the guarantee fund will allow farmers to benefit form this fund. The state budget has earmarked 2.5 billion dinars for the functioning of the guarantee fund, he said and added that the changes will also allow the total value of guarantees the fund approves to exceed the fund’s budget by 2.5 times.
Dinkic also said that tax on financial transactions will be scrapped on January 1, 2005, under the changes proposed. He added that secondary securities trading will also be tax-free.
Dinkic said that under the new regulations, taxation will be made more balanced with respect of citizens’ incomes. The number of taxable item will be reduced, while higher taxes will be levied on the possession of luxury items such as yachts, planes and helicopters, some types of vehicles, and some types of weapons.
The proposed changes to the Law on excise tax envisage the scrapping of excise taxes on kerosene, motor oils and lubricants, and some other petroleum products.
Dinkic also said Serbia’s payment operations will be brought into line with in European Union, under changes and amendments to the Law on payment operations.
He also announced the drafting of legislation to regulate games of chance. The draft is expected to be finished by the end of April, according to Dinkic.
Dinkic also said that a bill to amend the current Law on the guarantee fund will allow farmers to benefit form this fund. The state budget has earmarked 2.5 billion dinars for the functioning of the guarantee fund, he said and added that the changes will also allow the total value of guarantees the fund approves to exceed the fund’s budget by 2.5 times.
Dinkic also said that tax on financial transactions will be scrapped on January 1, 2005, under the changes proposed. He added that secondary securities trading will also be tax-free.
Dinkic said that under the new regulations, taxation will be made more balanced with respect of citizens’ incomes. The number of taxable item will be reduced, while higher taxes will be levied on the possession of luxury items such as yachts, planes and helicopters, some types of vehicles, and some types of weapons.
The proposed changes to the Law on excise tax envisage the scrapping of excise taxes on kerosene, motor oils and lubricants, and some other petroleum products.
Dinkic also said Serbia’s payment operations will be brought into line with in European Union, under changes and amendments to the Law on payment operations.
He also announced the drafting of legislation to regulate games of chance. The draft is expected to be finished by the end of April, according to Dinkic.
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