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Measures of economic, financial stability
8 October 2013
Belgrade, 8 Oct 2013 –Minister of Finance Lazar Krstic said today that the government will work to significantly improve the business environment, which requires a change of legislation, primarily the Labour Law and simplifying the procedures for obtaining building permits.
Lazar Krstic
Krstic presented the programme of austerity measures at the government session, which was open to the media, and said that the state will have to change the model of infrastructure investment.
He said that Serbia will have to significantly improve the reputation and perception of the business environment because it is the first and foremost obstacle to all investors considering whether to invest in our country.
The Minister pointed out that it is necessary to change some laws, especially the Labour Law, and added that it will allow more flexible hiring and firing of workers.
Also, he explained, is necessary for the procedure for obtaining construction permits be simplified, and that the Ministry of Finance will have to change the rules relating to the amount of fees, and to make them more transparent.
The Minister announced that the lowest VAT rate would be raised from 8% to 10% for non-existential products.
This should provide around €200 million annually, while another €150 million would go into the budget by reducing the gray economy, smuggling and illegal tobacco trafficking, he noted.
Besides actions against the gray economy, Krstic also announced the introduction of standardized electronic forms, online control of fiscal receipts, more control on the ground and a thorough reorganization of the Tax Administration.
The Serbian government will invest efforts to improve the business environment considerably, which is why amendments to legal regulations, primarily the Labour Law, will have to be adopted, Krstic stated.
Discussing the package of measures of economic and fiscal policy for the consolidation of economy at the government session, Krstic said that changes in certain laws, especially the Labour Law, is necessary so as to ensure more flexible employment and dismissal.
He noted that Serbia will have to change the model of infrastructural investments, which means that the government will not longer be able to act as the financer.
One of the models will cover partnerships between the public and private sectors, and we will try to make sure that local companies do the biggest share of the work, Krstic said.
He noted that the procedures for issuing construction permits would be simplified and that the Finance Ministry will have to significantly change the regulations concerning fees and make the entire process more transparent.
He said that this will help Serbia improve its business environment, which is very important for attracting foreign investments.
He said that Serbia will have to significantly improve the reputation and perception of the business environment because it is the first and foremost obstacle to all investors considering whether to invest in our country.
The Minister pointed out that it is necessary to change some laws, especially the Labour Law, and added that it will allow more flexible hiring and firing of workers.
Also, he explained, is necessary for the procedure for obtaining construction permits be simplified, and that the Ministry of Finance will have to change the rules relating to the amount of fees, and to make them more transparent.
The Minister announced that the lowest VAT rate would be raised from 8% to 10% for non-existential products.
This should provide around €200 million annually, while another €150 million would go into the budget by reducing the gray economy, smuggling and illegal tobacco trafficking, he noted.
Besides actions against the gray economy, Krstic also announced the introduction of standardized electronic forms, online control of fiscal receipts, more control on the ground and a thorough reorganization of the Tax Administration.
The Serbian government will invest efforts to improve the business environment considerably, which is why amendments to legal regulations, primarily the Labour Law, will have to be adopted, Krstic stated.
Discussing the package of measures of economic and fiscal policy for the consolidation of economy at the government session, Krstic said that changes in certain laws, especially the Labour Law, is necessary so as to ensure more flexible employment and dismissal.
He noted that Serbia will have to change the model of infrastructural investments, which means that the government will not longer be able to act as the financer.
One of the models will cover partnerships between the public and private sectors, and we will try to make sure that local companies do the biggest share of the work, Krstic said.
He noted that the procedures for issuing construction permits would be simplified and that the Finance Ministry will have to significantly change the regulations concerning fees and make the entire process more transparent.
He said that this will help Serbia improve its business environment, which is very important for attracting foreign investments.
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