Government won't increase VAT

Finance Minister Diana Dragutinović said that the government will not increase VAT in order to provide funds for the 2009 budget.

Izvor: Beta

Saturday, 03.01.2009.

17:30

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Finance Minister Diana Dragutinovic said that the government will not increase VAT in order to provide funds for the 2009 budget. In an interview with the Beta news agency, Dragutinovic said that better control of customs and tax revenues will compensate for a decrease in exports, which will occur as the consequence of the global financial crisis. Government won't increase VAT The VAT increase is the last measure the government will implement if budget revenues are not enough to fulfill obligations towards budget users, said Dragutinovic, according to the government website. She stressed that customs revenues have already decreased during previous months, which will continue in the upcoming period. The minister added that the 2009 budget envisages less customs revenues due to the implementation of the SAA's interim trade agreement. Dragutinovic said that all the government’s measures must be in accordance with the International Monetary Fund (IMF) and must aim to secure an 8 percent inflation for 2009. In order to maintain Serbia’s financial stability, the government and the National Bank of Serbia have signed a Memorandum with the IMF as a guarantee that the IMF will approve a new arrangement for Serbia, which will include the possibility of withdrawing USD 520mn, said Dragutinovic. The minister expects prices of some goods to decrease, which may help achieve the planned inflation.

Government won't increase VAT

The VAT increase is the last measure the government will implement if budget revenues are not enough to fulfill obligations towards budget users, said Dragutinović, according to the government website.

She stressed that customs revenues have already decreased during previous months, which will continue in the upcoming period.

The minister added that the 2009 budget envisages less customs revenues due to the implementation of the SAA's interim trade agreement.

Dragutinović said that all the government’s measures must be in accordance with the International Monetary Fund (IMF) and must aim to secure an 8 percent inflation for 2009.

In order to maintain Serbia’s financial stability, the government and the National Bank of Serbia have signed a Memorandum with the IMF as a guarantee that the IMF will approve a new arrangement for Serbia, which will include the possibility of withdrawing USD 520mn, said Dragutinović.

The minister expects prices of some goods to decrease, which may help achieve the planned inflation.

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