Tax amendments in the Parliament
‘With the Proposed law on amendments and changes to Corporate Profit Tax Law we have aligned preparation of fiscal balance with International Accounting Standards’, the minister highlighted, adding that this law envisages a possibility to differ between a fiscal and a calendar year. With a permission from the Finance Ministry and the National Bank, companies with a particular business will be able to adjust the fiscal year to their way of doing business, with the obligation to stay in that regime for the next 5 years. Corporate profit tax rate will remain 10%. Proposed law on amendments and changes to the Republic Administrative Fees Law will revoke the 1,000 RSD fee for passports, which means that persons getting a new passport will only be required to pay for the issuance of the travel document.
The minister went on to say that preparation of the Law on Waiver of Interest on Mature Liabilities for Specific Tax and Contributions is underway, which will exempt taxpayers who regularly settle their levies from paying interests on unpaid liabilities in the previous period. The Parliament will also discuss Proposed law on amendments and changes to Mandatory Social Insurance Contributions Law and the Budget System Law, which introduces the possibility of a three-year budget and program budgeting for some areas.
The minister said that Postanska stedionica savings bank was recapitalized with 2.8 billion RSD, while the expected amount for recapitalization of Komercijalna banka is 3.25 billion RSD, with 25% participation of EBRD. Two billion dinars will be allocated for recapitalization of National Housing Loans Insurance Corporation, and 3 billion RSD has been allotted for 3 billion RSD. The 700 million RSD recapitalization of Deposit Insurance Agency will take place by mid-February.