Q:
A:
VAT brings down 80 percent of prices
Belgrade,
4 January 2005
Serbian Minister of Finance Mladjan Dinkic said today that fears of the implementation of value added tax (VAT) were ungrounded, since the prices of 80 percent of products went down, 13 percent were raised, while the rest remained unchanged.
Minister Dinkic during his visit to one of Belgrade retail stores
Author:
Fonet
During his visit to Belgrade retail stores, Dinkic stressed that the fact that the prices of bread and milk remained unchanged is of great importance. He added that the adjustment to value added tax will last a few months, during which period its good and bad sides will be clearer and the bad effects will be corrected immediately.
The minister also said that the Serbian government deliberately opted for an 18 percent rate so as to make the effects of price reductions visible, unlike Croatia, which launched VAT with a 27 percent rate. Dinkic added that the market and the purchasing power will level the prices.
The minister also said that the Serbian government deliberately opted for an 18 percent rate so as to make the effects of price reductions visible, unlike Croatia, which launched VAT with a 27 percent rate. Dinkic added that the market and the purchasing power will level the prices.
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