Amendments to Law on Tax Procedure adopted

On July 3rd, Serbian lawmakers adopted amendments to the Law on Tax Procedure and Tax Administration which regulate the switch to electronic tax payments, tighten up the control and increase penalties for tax offenses.

A total of 170 MPs voted in favor of these amendments, while 12 were against them.

Explaining the proposed solutions at the beginning of the session of July 1st, Finance Minister Lazar Krstic said that amendments to the Law on Tax Procedure were meant to initiate an aggresive campaign against the grey economy and represented the first step towards a comprehensive reform of the tax system.

- Amendments create a necessary setting for the beginning of unbiased and consistent fight against the grey economy, tax evasion and under-collection of taxes. On the other hand, we also create an institutional and legal framework for better functioning of the Tax Administration - he said.

Krstic then noted that the most significant changes were made to the regulations governing the penalties for tax offenses and the tax collection system.

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