A set of finance-related bills adopted

Finance Minister Mr. Mladjan Dinkic has presented today, at a press conference, the new set of finance-related bills, adopted by the Serbian Government at the yesterday’s session and forwarded to the Serbian Assembly for urgent adoption.

The set of finance-related bills encompasses:

1. The bill on regulating the Republic of Serbia liabilities originating from the Economic Development Loan, in line with which the state will, starting from August 31, settle its debt amounting to 56 million euros, in four installments, with the annual interest rate of 2%.

2. The bill on the amendments to the Guarantee Fund Law, which introduces the possibility for farmers to use the services of this Fund. Likewise, the amendments allow the nominal sum of the guarantees and super guarantees granted by the Fund to be 2.5 times higher than the Guarantee Fund capital.

3. The bill on amendments to the Law on Financial Transactions Tax, proposing the abolition of the financial transactions tax, starting with January 01, 2005 and instant exemption from tax in secondary trade with securities.

4. The amendments to the Law on Tax on usage, keeping and carrying of goods, the purpose of which is to distribute the tax in a more equitable manner, in line with the citizens’ financial situation. The amendments concern the reduction of scope of the taxable goods, on the one hand, and increase of tax for certain categories (yachts, aircrafts, motor vehicles with high volume of cubic meters, and all the weapons that do not belong to hunting and trophy categories).

5. The bill on the amendments to the Excise Goods Law, proposing the abolition of excise on jet fuel and aircraft petrol, motor oils and lubricants, heating oil, liquid oil gas, petroleum and ethyl alcohol. At the same time, it proposes an increase of excise on all kinds of motor petrol and diesel fuel, on cigarettes in groups A, B, and C, alcoholic beverages and imported fruit juices. The Law also prescribes the base for the calculation of coffee excise.

6.The bill on amendments to the Law on Payment Operations, which would further harmonize the payment system of the Republic of Serbia with the solutions applied in the EU countries.

Asked by journalists about the adoption of the Law on the Games of Chance, Minister Dinkic explained that the drafting of the Law is underway, and added that the final version is expected in one month’s time, at the latest.