Serbia

Parliament passes 2012 budget revision


Published

The Serbian parliament has voted to raise value added tax (VAT) to 20% from 18% whilst approving a number of revisions to the 2012 budget aimed at reducing the budget deficit. The parliament also appointed Ana Gligorijevic, Diana Dragutinovic and Veselin Pjescic as Vice Governors of the National Bank of Serbia.

The budget amendment along with the VAT increase will provide around €1 billion ($1.29 bn) in extra revenues. The new budget expects a deficit of 6.2% of GDP with the economic growth forecast reduced from 1.5% growth to 0.5% contraction this year.

A press release on the Serbian Government website states that parliament:

“. . . adopted Laws amending the Law on excise tax, the Law on fiscal cash registers, the Law on state administrative fees and the Law on financing local self-governments.

The Parliament passed Laws amending the Law on tobacco, the Law on value added tax and the Law on citizens’ income tax.

Furthermore, the MPs adopted Laws amending the Law on the tax procedure and tax administration, the Law on privatisation, the Law on mandatory insurance in traffic, the Law on waters and the Law on forests.

They passed Laws amending the Law on animal husbandry, the Law on wine, the Law on veterinary medicine, the Law on court taxes, the Law on air traffic, the Law on public roads and the Law on emergency situations.

At today’s session the MPs adopted a Law amending the Law on ionising radiation protection and nuclear safety.

The Parliament adopted a Law on determining the highest income in the public sector and a Law amending the Law on pension and disability insurance.”

The B92 agency reports that the changes closed down the National Corporation for Tourism Development, the Environmental Protection Fund, the Chemicals Agency, the Energy Efficiency Agency, the Games of Chance Administration, the Foreign Currency Inspectorate, and their competences were transferred to the ministries and other state bodies.

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