Q:
A:
Rounding up fiscal consolidation plan
Belgrade,
16 November 2012
Minister of Finance and Economy Mladjan Dinkic said that the Serbian government today approved nine bills so as to complete the plan of fiscal consolidation of the Republic of Serbia.
Mladjan Dinkic
Author:
infobiro.tv
Speaking at a press conference, Dinkic explained that these documents contribute to the establishment of financial discipline in the country, increasing liquidity in the economy and reducing costs.
He pointed out that one of the most important bills is the Bill on the terms of settlement of financial obligations in commercial transactions, and added that this document provides for the introduction of default interest and penalties for responsible persons.
The Minister said that the Bill on conditional write-off of interest and tax debt standstill was also adopted.
He recalled that according to data from the Tax Administration, the debts at the national level for the taxes amount to RSD 967 billion, of which RSD 340 billion is the principal, while interest makes the rest.
He explained that this bill provides that those who settle the principal of the debt be written off interest and added that companies that are unable to pay the entire debt but regularly start paying tax liabilities will also have the opportunity to have their interest written off.
Large companies that within one year each month settle their obligations and small and medium enterprises that do so within two years, will have the arrears written off, while the principal of the debt will be paid within 24 months, explained the Minister .
The Minister said that the government today adopted the Bill on amendments to the Law on foreign exchange, which will allow foreign paymentsthrough internet payment systems, such as PayPal.
The Minister said that the amendments to the Law on copyright and related rights were also adopted today.
The Serbian government adopted three bills in the areas of health, providing for the introduction of significant reforms in the sector, Dinkic said, adding that the state will take over the RSD 13 billion debt from the hospital and turn it into public debt.
The Minister also announced that a centralised procurement system for drugs in health care will be introduced as of 31 March, in order to reduce the costs and corruption.
The cabinet also approved a bill amending the Law on excise tax aimed at increasing excise taxes on tobacco and petroleum products by 2016, said the Minister, adding that the government today adopted a proposal to amend the Law on the Development Fund which will unblock the work of the institution.
According to Dinkic, the Serbian parliament next week will discuss the mentioned regulations along with the budget proposal for 2013.
He pointed out that one of the most important bills is the Bill on the terms of settlement of financial obligations in commercial transactions, and added that this document provides for the introduction of default interest and penalties for responsible persons.
The Minister said that the Bill on conditional write-off of interest and tax debt standstill was also adopted.
He recalled that according to data from the Tax Administration, the debts at the national level for the taxes amount to RSD 967 billion, of which RSD 340 billion is the principal, while interest makes the rest.
He explained that this bill provides that those who settle the principal of the debt be written off interest and added that companies that are unable to pay the entire debt but regularly start paying tax liabilities will also have the opportunity to have their interest written off.
Large companies that within one year each month settle their obligations and small and medium enterprises that do so within two years, will have the arrears written off, while the principal of the debt will be paid within 24 months, explained the Minister .
The Minister said that the government today adopted the Bill on amendments to the Law on foreign exchange, which will allow foreign paymentsthrough internet payment systems, such as PayPal.
The Minister said that the amendments to the Law on copyright and related rights were also adopted today.
The Serbian government adopted three bills in the areas of health, providing for the introduction of significant reforms in the sector, Dinkic said, adding that the state will take over the RSD 13 billion debt from the hospital and turn it into public debt.
The Minister also announced that a centralised procurement system for drugs in health care will be introduced as of 31 March, in order to reduce the costs and corruption.
The cabinet also approved a bill amending the Law on excise tax aimed at increasing excise taxes on tobacco and petroleum products by 2016, said the Minister, adding that the government today adopted a proposal to amend the Law on the Development Fund which will unblock the work of the institution.
According to Dinkic, the Serbian parliament next week will discuss the mentioned regulations along with the budget proposal for 2013.
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