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The Government of the Republic of Serbia

In the service of citizens

Fiscal cash register system to reduce grey economy by 25 percent

Belgrade, 24 February 2005

Serbian Minister of Trade, Tourism and Services Bojan Dimitrijevic said today that following the successful implementation of the fiscal cash register system, the grey economy will be halved and will amount to 25 percent of Serbia’s GDP.

Bojan Dimitrijevic

At the opening of an exhibition of fiscal cash registers and equipment called “Fiscal Expo 2005”, Dimitrijevic said that the effects of reducing the grey economy would help to increase tax revenues by several billion euros.

According to Dimitrijevic, around 180,000 fiscal cash registers have been introduced in Serbia so far, adding that there is potential for introducing an additional 50,000. By the end of April, fiscal cash registers should be linked to a database at the Tax Administration, through which the Ministry of Finance will be able to monitor sales in certain sales points on a daily basis, he said.

Dimitrijevic explained that the Ministry of Finance would receive daily sales data at certain sales points, and should there be any decrease in the sale at some points, it will be a signal for the Tax Administration that the user has switched off the fiscal cash register.

The “Fiscal Expo 2005” fair, which includes 24 manufacturers of fiscal cash registers and equipment, is taking place at the Intercontinental Hotel in Belgrade. The fair closes tomorrow.