Definition of new Law proposals

On the occasion of today’s session, the Government of the Republic of Serbia defined the following legal regulations: proposal of the Law on Political parties financing (see more), proposal of the Law on the National Bank of Serbia (see more), proposal of the Amendments on the Law on banks and other financial organizations (see more) and the proposal of the Amendments on the Law on Excise taxes (see more).

By the beginning of the next week, the suggested legal regulations, along with the proposal of the Law on Customs operations (see more) will be on the agenda of the next session of the Serbian Parliament.

The proposed Law on Political parties financing (download the presentation) provides for the obligation for all political parties to have an account for the financing of all their regular activities, as well as a special account for the election campaigns financing. The Finance minister Djelic said that the political parties should keep a precise record on the origin, the amount and the structure of the realized revenues and expenditures, as well as a record on donations and other property. The political parties must submit a yearly closing balance along with a report on donations and property to the Finance Committee of the Serbian Parliament, before the Committee makes it publicly accessible.

The proposed Law on the National Bank of Serbia (download the presentation) provides for the independence of this financial institution, and the Article 2, Paragraph 2 and 3, stipulate that “The National Bank of Serbia is an autonomous and independent institution in it’s functions – defined within the framework of the Law and other legal regulations, and is responsible to the Serbian Parliament for it’s work and activities. Within the framework of the performance of it’s operations, the National Bank of Serbia shall not receive nor ask for instructions from any public administration authority or any other person.”

The proposed Amendments on the Law on Excise Taxes (download the presentation) provides for the suspension of excise tax payment on domestic wine, salt, gold and some other products of minor importance, which represents the result of the excise taxing policy harmonization with Montenegro. The modifications of the excise tax policy regarding cigarettes will provide for a better protection of the domestic tobacco industry and a strong stimulation for international tobacco companies to locate their major brands production on the Serbian territory.

According to Minister Djelic’s terms, the proposed Law on Customs operations represents the essential element of the Serbia and Montenegro harmonization with the European standards in that domain. The Minister
also added that the Law was developed in cooperation with European experts, providing for an efficient organization of the Customs Administration and a better carrying out of the customs proceeding.

According to Mr. Djelic’s terms, the major news of this Law represent the new authority granted to the customs officers – now empowered to perform their duties on the whole Serbian national territory (while before, it was possible only at the national border crossings). This provision will avoid the possibilities of abuse – as it was recently the case with the “sugar affair”, when Serbia lost it’s “preferential” status in sugar exportations.