Money collected from excise tax to be used for unemployment allowances and farmers’ pensions

The Minster of Finance in the Government of the Republic of Serbia Mr. Mladjan Dinkic, on occasion of adopting a set of financial laws, at the yesterday’s session of the Serbian Parliament, said that the adopted amendments to the Excise Tax Law would bring the Serbian budget another 3.5 billion Dinars, which would be used for accelerated payment of unemployment allowances and farmers’ pensions.

Dinkic said that the adoption of amendments on the Law on securities and other financial instruments would enable to announce the public tender for the sale of “Jubanka” as soon as May 28, and in September for “Novosadsaka banka” and “Kontinental banka”.

He stressed that passing of the Law on National Corporation for Insurance of Housing Loans is also of great importance, and announced that the Ministry of Finance will propose the persons to manage the institution, so that the first housing loans could be insured in September already.

The Minister stated that the adopted Law on Insurance was important as a cornerstone of the new system of insurance companies, and explained that the order would be established in that sector, concerning that according to the proposed legislation the National Bank of Serbia takes over the control of insurance companies operations.

When it comes to the Public Procurement Law, the adopted changes will allow more favorable treatment of the domestic producers, so that our industry will be engaged more.

The Finance Minister estimated that the significant changes to the Law on tax procedure and fiscal administration would improve financial discipline and additionally contribute to the increase of tax collection, and set forth the data that tax collection was 20% higher in the first four months of this year than it had been at the same period of the previous year.