Parliament amends tax laws
The Serbian Parliament Friday adopted amendments on various taxation laws.
Saturday, 30.06.2007.
16:22
Parliament amends tax laws
According to the amendments to the Law on Property Tax, the tax on the transfer of absolute rights while buying a house is reduced to 2.5 percent from 5 percent, as first time homebuyers are relieved from paying tax.The VAT for the purchase of personal computers has been reduced to 8 from 18 percent.
The amendments to the Law on Excise Tax have removed taxation from non-alcoholic drinks and fruit juice imports. The excise tax on domestic cigarettes will equal foreign tobacco brands starting from January 1, 2008, as the minimum excise tax on cigarettes has been increased.
The amendments to the Law on Tax Procedure and Tax Administration allow local self-governments to establish, control and collect tax proceeds.
The Serbian Tax Administration will decide on complaints against local-self governments in this matter, which will allow double verification of the tax procedure and reduce complaint expenditures.
It is envisaged that those citizens who have yet not paid their taxes are allowed to found companies as potential new tax payers.
The Law on Customs Tariff was amended in accordance with EU regulations and CEFTA requirements, as the customs tariff on tobacco products has been reduced.
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