Serbia’s new tax law marks the beginning of an aggressive campaign against the grey economy, tax evasion and under-collection of tax revenues, Serbian Finance Minister Lazar Krstic said Tuesday.
Presenting the proposed amendments to the law on tax procedure and tax administration in the Serbian parliament, Krstic pointed out that, under the new regulation, companies will no longer be able to maintain their liquidity by not paying taxes, as this practice will become unprofitable.
“We have changed the manner of defining penalties wherever possible, by defining them with regard to the damage caused by the offence. We have also increased the fines,” Krstic told members of the Serbian parliament reports Tanjug.
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