Successful meeting with foreign businessmen

The American Chamber of commerce in Yugoslavia, organized yesterday, in Belgrade Hyatt Hotel a meeting between Mr. Bozidar Djelic and foreign businessmen and international financial organizations representatives. On that occasion, the minister presented the latest fiscal stimulations, adopted by the end of September by the Government of the Republic of Serbia, that would be of interest for foreign investors in our country. Expecting Serbia to become very soon the most investments attractive country in the region, the minister repeated his position on the necessity of creating an efficient fiscal administration as basis for the future Serbian fiscal system, and later, briefly exposed to the foreign investors the fiscal reforms relative to the citizens life standard.

All those present expressed their greatest interest in the reforms relative to the investments and employment in the economy. As the most important innovation, minister Djelic emphasized the reduction of the Corporate profit Tax to 14%, the raise of the fiscal credit to 20% (respectively 40% for the small companies), and the 2 years of tax reduction in the amount of the total (100%) newly employed worker’s salary and obligations. As a measure very stimulating for investment, Mr. Djelic mentioned the important investments and investments in communes of special interest, in other terms, for an investment over six hundred million dinars and the employment of a hundred new workers, the employer will be exempted from Profit tax payment for ten years, while in the undeveloped communes, the tax exemption period would be five years, for each employer investing more than six hundred thousand dinars and employing five new workers.

As a priority in the future period, minister Djelic emphasized the fight against the gray economy. One of the elements of this fight is the introduction, starting from the next year, of the fiscal cash registers, as well as several essential Laws that would soon be before the Parliament. These laws are aimed to create a modern and efficient fiscal administration, and for the first time, they will provide for a special care to be taken of the taxpayers rights – meaning that they will be guaranteed the privacy, the secrecy of the collected data, the insight in the tax payment, answers in writing to all questions, etc. These measures simplify the tax paying procedure, provide for a more equitable distribution and the reduction of the fiscal burden both for the citizens and entrepreneurs.