Monday, 22 February 2016

85th Sitting of the Committee on Finance, State Budget and Control of Public Spending

At the sitting held on 22 February, the members of the Committee on Finance, State Budget and Control of Public Spending discussed the Bill amending and modifying the Law on Tax Procedure and Tax Administration, in principle, as well as the Bill on the Confirmation of the Agreement between the Republic of Serbia and the Republic of Korea on Avoidance of Double Taxation with respect to Taxes on Income, and the Bill on the Confirmation of the Agreement between the Republic of Serbia and the Grand Duchy of Luxembourg on Avoidance of Double Taxation with respect to Taxes on Income and on Property.


Speaking about the Bill amending and modifying the Law on Tax Procedure and Tax Administration, Assistant Minister of Finance Natasa Kovacevic said that its purpose is to facilitate the postponement of debt re-payment for tax payers under more favourable conditions – the 24 months with a 12-month grace period are increased to 60 months with no grace period. The tax payers need no security if they owe 200,000 RSD for physical or 1.5 million RSD for legal entities, added Kovacevic. The interest rate is equal to the referent interest rate, and another innovation is the fact that if re-programmed instalments are paid on time, every 12 months 50% of the interest rate to the paid portion of the debt can be written off. Also, the Tax Administration publishes the list of debtors twice a year, and debt payment can now be realised through the sale of belongings, said Kovacevic.

Following a brief debate, mainly revolving around the interest write-off every 12 months, the Committee unanimously accepted the Bill amending and modifying the Law on Tax Procedure and Tax Administration, in principle.

The Bill on the Confirmation of the Agreement between the Republic of Serbia and the Republic of Korea on Avoidance of Double Taxation with respect to Taxes on Income, and the Bill on the Confirmation of the Agreement between the Republic of Serbia and the Grand Duchy of Luxembourg on Avoidance of Double Taxation with respect to Taxes on Income and on Property create the conditions necessary to avoid double taxation of Serbian residents in Korea and Luxembourg, and their residents in Serbia, and to boost the level of cooperation between the tax administrations. The second Bill also includes taxes on property.

Following a debate the Committee members unanimously accepted both the bills.

The sitting was chaired by Committee Chairman Veroljub Arsic and attended by Committee members and deputy members Olivera Pesic, Momo Colakovic, Dragoljub Zindovic, Milos Tosanic, Sonja Vlahovic, Zoltan Pek, Goran Kovacevic, Suzana Sarac, Zoran Bojanic and Vladimir Marinkovic.


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thursday, 28 january
  • 10.00 - continuation of the First Extraordinary Session of the National Assembly of the Republic of Serbia, 12th Legislature (National Assembly House, 13 Nikola Pasic Square)

  • 10.00 - presentation of the poll on: Serbian citizens’ attitude toward the US (National Assembly House, 13 Nikola Pasic Square, Small Hall)

  • 10.30 - National Assembly Speaker Ivica Dacic addresses the gathering on the 140th anniversary of Serbia – US diplomatic relations (National Assembly House, 13 Nikola Pasic Square, Small Hall)

  • 12.00 - sitting of the Committee on Administrative, Budgetary, Mandate and Immunity Issues (National Assembly House, 13 Nikola Pasic Square, hall 4)

  • 12.00 - sitting of the Committee on Constitutional and Legislative Issues (National Assembly House, 13 Nikola Pasic Square, hall 3)

  • 13.45 - 12th meeting of the EU - Serbia Stabilisation and Association Parliamentary Committee (SAPC) (National Assembly House, 13 Nikola Pasic Square, hall 3)

  • 16.00 - institute of parliamentary questions on the last Thursday of the month (National Assembly House, 13 Nikola Pasic Square)

Full event calendar