Q:
A:
Gasoline prices to go down on January 1
Belgrade,
29 December 2004
Assistant Minister of Finance Goran Andjelic said today that the introduction of value added tax (VAT) on January 1 will bring down the prices of fuel, telephone services, electricity, railway services, and postal services.
Goran Andjelic (right)
Andjelic explained this will be a result of the reduction of the tax rate from 20 percent to VAT’s 18 percent. According to him, on January 1, the price of diesel fuel will go down 0.9 percent and gasoline 1.2 percent thanks to the introduction of VAT, while the prices will fall by a further one to two dinars per liter on January 5 thanks to declining oil prices in the global market.
Andjelic said that thanks to the introduction of VAT, the prices of telephone services, electricity, coal, railway transport will go down, while postal services will cost between 12 and 17 percent less than they cost now.
He also said that prices of bread will not go up and expressed conviction that prices of milk products will also go down in the beginning of 2005.
Andjelic recalled that the tax on financial transactions will be scrapped on January 1, which will disburden payment operations and financial transactions. The payroll tax, which stands at 14 percent for newly-hired workers, will also be eliminated on January 1, he said.
According to Andjelic, GDP grew seven percent this year, by one percent more than planned, with industrial production recording a substantial increase in November and December against a year earlier.
Agricultural production grew 20 percent, said Andjelic and added that the country’s hard currency reserves have also grown, to around $4.2 billion.
Andjelic said that thanks to the introduction of VAT, the prices of telephone services, electricity, coal, railway transport will go down, while postal services will cost between 12 and 17 percent less than they cost now.
He also said that prices of bread will not go up and expressed conviction that prices of milk products will also go down in the beginning of 2005.
Andjelic recalled that the tax on financial transactions will be scrapped on January 1, which will disburden payment operations and financial transactions. The payroll tax, which stands at 14 percent for newly-hired workers, will also be eliminated on January 1, he said.
According to Andjelic, GDP grew seven percent this year, by one percent more than planned, with industrial production recording a substantial increase in November and December against a year earlier.
Agricultural production grew 20 percent, said Andjelic and added that the country’s hard currency reserves have also grown, to around $4.2 billion.
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