Regional cooperation is necessary in the fight against grey economy, tax administration directors from South-East European countries concluded on Saturday.
There is no financial future for the region without good and efficient tax administrations, Director General of the Montenegrin Tax Administration Milan Lakicevic said during a panel discussion on the second day of the Summit of finance ministers and governors in Becici.
Montenegro always underscored the need for good intergovernmental and regional cooperation within the campaign of the fight against grey economy because grey economy functions according to the principle of communicating vessels, he said.
Successful tax administration work calls for higher efficiency, coordinated cooperation with other government bodies and tighter penalty clauses, as well as strengthening of personnel capacities, Lakicevic said.
He noted that Balkan countries are reforming tax administrations at a time of financial crisis, which means that they are using their modest funds to create a tax administration that would live up to the EU standards.
Source; SerbGov
