National Assembly of the Republic of Serbia / Activities / Activity details
Monday, 26 May 2014
Second Sitting of the Committee on Finance, State Budget and Control of Public Spending
At the sitting held on 26 May, the members of the Committee on Finance, State Budget and Control of Public Spending discussed, in principle, five bills submitted by the Government and included in the agenda for Fourth Sitting of the First Regular Session of the National Assembly in 2014.
The Bill amending and modifying the Personal Income Tax Law, Bill amending and modifying the Law on Contributions for Mandatory Social Security Insurance, Bill on the Confirmation of the Loan Agreement between the Government of the Republic of Serbia as Borrower and the Government of the Emirate of Abu Dhabi (United Arab Emirates) as Creditor for a 1,000,000,000 USD Loan, Bill on the Confirmation of the Loan Agreement between the Government of the Republic of Serbia and the Abu Dhabi Development Fund for the financing of Irrigation System Development – Stage 1 and the Bill on the Confirmation of the Finance Agreement “Apex loan for small and medium enterprises and other priorities III/A” between the Republic of Serbia and the European Investment Bank and the National Bank of Serbia were elaborated by State Secretary at the Ministry of Finance Nikola Corsovic.
He stressed that the Government submitted the Bill amending and modifying the Personal Income Tax Law in order to introduce a tax incentive according to which the Government would practically subsidize part of the taxes and income of newly-employed workers. By the incentive the Government aims to, added Corsovic, aid employment and help private entrepreneurs legalise their business dealings and legalise part of the employees working in the grey zone, thus boosting the budget proceeds. Speaking of the Bill amending and modifying the Law on Contributions for Mandatory Social Security Insurance, Corsovic said that on one hand the Bill is practically a continuation of the implementation of the Bill discussed at the beginning of the Committee sitting, while on the other hand it means a change in the rate of contributions for pension and disability insurance and health insurance, which in turn means better allocation of income between the Pension and Disability Insurance Fund and the Health Insurance Fund in order to effect additional savings in the budget.
The Committee members unanimously decided to propose that the National Assembly accept the bills.
The sitting was chaired by Veroljub Arsic, Committee Chairman.
He stressed that the Government submitted the Bill amending and modifying the Personal Income Tax Law in order to introduce a tax incentive according to which the Government would practically subsidize part of the taxes and income of newly-employed workers. By the incentive the Government aims to, added Corsovic, aid employment and help private entrepreneurs legalise their business dealings and legalise part of the employees working in the grey zone, thus boosting the budget proceeds. Speaking of the Bill amending and modifying the Law on Contributions for Mandatory Social Security Insurance, Corsovic said that on one hand the Bill is practically a continuation of the implementation of the Bill discussed at the beginning of the Committee sitting, while on the other hand it means a change in the rate of contributions for pension and disability insurance and health insurance, which in turn means better allocation of income between the Pension and Disability Insurance Fund and the Health Insurance Fund in order to effect additional savings in the budget.
The Committee members unanimously decided to propose that the National Assembly accept the bills.
The sitting was chaired by Veroljub Arsic, Committee Chairman.