Bill on prevention of money-laundering, financing terrorism in parliament in October

Serbian State Secretary of Finance Miodrag Djidic stated today that the new Bill on prevention of money-laundering and financing terrorism will be sent to parliament in October and should be adopted by year’s end.

At a press conference in the Serbian government building, Djidic said that a novelty in the bill is a regulation on financing terrorism, which is one of the most topical issues in the world.

The bill envisages that the Tax Administration, Directorate for Games of Chance and Market Inspectorate should control whether banks, law practices and real estate agencies fulfill their legal obligations to prevent tax evasions or money-laundering, said Djidic.

Speaking about the Tax Administration, Djidic said that from May 1 until August 23 this year, tax collection was by 13.7% better than in the same period last year, which means that citizens’ discipline is improving. Djidic recalled that the Law on financing local self-government was adopted last year and it envisages that by the end of 2008 local self-governments will take over the collection of property tax.

He pointed out that local authorities are not showing interest in this, except for local authorities in Belgrade, Kragujevac, Vrnjacka Banja and Vranje. Djidic added that the Tax Administration will help local authorities to set up the service for tax collection.

Djidic said that among priorities of the Ministry of Finance are reconstruction and modernisation of border crossings, which should provide faster and easier cross-border transit of people and goods. Waiting on border crossing must be as short as possible, Djidic also said.

Director of the Customs Administration Predrag Petronijevic said that modernisation of the customs service is the most important task for this administration and noted that all measures are coordinated in cooperation with the Ministry of Finance.