Tax system changes "not likely" in 2014

Finance Minister Lazar Krstić says it is "not realistic" that Serbia's tax system would be changed this year year.

Izvor: Beta

Monday, 03.02.2014.

12:47

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Tax system changes "not likely" in 2014

"The budget financing system is presently poorly regulated, so local government and social fund budgets may have a surplus, while we have a huge deficit at the national level, which tells us that the taxpayers' money might not be being distributed in a logical way," Krstić told Beta in an interview.

Krstić stressed that his priority was to ensure a predictable climate for doing business in, which is to say, a clear public finance plan, so that business owners could plan exactly how much they owed the state and the exact size of their debt in a given year.

As for improving tax collection, he announced organizational changes in the state Tax Authority, where the minister said that a body would be put together for the purpose of cracking down on the grey economy.

He also said that tax reforms would be discussed this year with different groups, the most important of which would be the corporate sector, while these talks would result in a solid plan which everyone would have to follow.

Commenting on the possibility of slashing labor taxes, Krstić ceded that that was possible in the long-term, however that, before any duties that were public revenue could be lowered, the authorities needed to find a way to bridge the resulting budget deficit.

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