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Finance Minister Siniša Mali said that the Digital Property Law is something completely new in our country.
Source: B92
Photo: TANJUG, ZORAN ŽESTIĆ
According to him, Serbia does not want to be left behind the world, and this law regulates the use of digital currencies, the most famous of which is bitcoin.
He said in today’s session of the National Assembly that innovative technology is the future.
Digital resources
He added that the Digital Property Bill should contribute to position Serbia as a leader in Southeast Europe in digitizing financial technologies.
Explaining the proposed solution, Mali told the Serbian Parliament that the main objective of the law is to open up more business opportunities for entrepreneurs and that thanks to it, entrepreneurs will find it easier to finance their innovative ideas. As he explained, there is an opportunity to improve the liquidity of entrepreneurs and their inclusion in the digital real estate market.
“Digital assets, sometimes referred to as crypto assets or virtual assets, are defined in this bill as a digital record of value that can be bought, sold, exchanged or transferred digitally and that can be used as a medium of exchange or for the purposes of exchange. investment”. Mali said.
He recalled that the most famous representative of digital assets in the world is bitcoin, and the most common technology on which digital assets are created is blockchain technology.
Mali stated that with the adoption of the new law, entrepreneurs will have more innovative opportunities for the development of their business, such as the issuance of investment tokens to raise capital or launch platforms for the exchange of digital assets.
Inspection Law
The Minister told the Serbian Assembly that the proposed audit model is based on the online regime, which allows the sending of data on tax invoices issued to the Tax Administration in real time at the time of retail. According to him, that will ensure that every invoice for goods and services in retail is recorded through an electronic tax device.
“The control law must allow the fight against the underground economy. The last control law was approved 15 years ago, and meanwhile technology has advanced. The most important change within it is that the Tax Administration has control in time real, “he explained. he.
In this way, he pointed out, the conditions are created for the Tax Administration to monitor and efficiently control taxpayers who are at risk of tax evasion, as well as to increase the number of tax controls at the headquarters of the tax authority, reducing the need for field checks.
It says that the law proposes to extend the scope of the examination to all personal income tax payers and all personal income tax payers, who carry out retail trade, with the exception that it is highly possible to exempt certain activities from the obligation of register retail trade under particularly justified conditions. cases.
“Considering that the new inspection model can generate costs for the economy, which would be one-time, the state assumed most of the burden, and in the budget approved for next year 3 billion dinars were reserved for subsidies to businessmen, “Mali said.
Photo: TANJUG, ZORAN ŽESTIĆ
The bill reduces long-term business costs, eliminates unnecessary administration and creates a better business environment, the minister stressed.
He added that according to the new Inspection Law, there will be no more strips of paper, as well as GPRS modules, which will reduce costs for entrepreneurs, since the entire process will be digitized.
He emphasized that businessmen will not allocate a dinar from their pockets for the implementation of new regulations.
Enforcement of the law is proposed to begin on January 1, 2022.
Payment to recipients of restitution begins in 2022
The amendments to the Law on the Return of Confiscated Assets and Compensation determine the dynamics and technique of issuing bonds to pay the recipients of restitution who are entitled to compensation, Finance Minister Sinisa Mali said today in parliament.
“If the amount of compensation does not exceed 1,000 euros, per beneficiary, this invoice enables payment only in cash, payment of the entire amount, on March 31 of next year, provided that they have received a final resolution before the June 30 of the current year, “explained the minister, explaining the proposed changes to the law.
He added that compensation in the form of Serbian state bonds is expected to be made by issuing bonds, once a year for the compensation amount determined by the Agency on the basis of compensation decisions that were made final on June 30. of this year.
The basic elements of the bonds will be determined by the Government through the Decision on the issue, at the proposal of the Ministry of Finance before September 30 of the current year, and on the basis of all the compensation decisions that became final since on July 1 of the year prior to June 30 of the current year.
The deputies will also have before them the modifications to the Law of Special Taxes, which propose the adoption of a medium-term plan for a gradual increase of excise taxes on cigarettes from 2021 to 2025, through a semester increase in 1, 50 dinars per package.
Mali also presented the amendments to the Law on Prevention of Money Laundering and Terrorism Financing, as well as the Law on Corporation Tax.
Law on Income Tax
The Minister of Finance also explained the changes to the Law on Personal Income Tax.
Mali explained that the key change refers to the increase of the non-taxable amount of the salary from 16,300 dinars to 18,300 dinars per month, which ensures the reduction of the tax burden of the income that individuals earn based on work.
Mali said that to promote employment, it was proposed to extend the validity of existing incentives for hiring new people, which are prescribed in the form of the right to a refund of a portion of the tax paid on the salary of a new employee in a percentage from 65 to 75 percent, depending on the number of new employees. December 2020 to December 31, 2021.
The Minister also presented to the deputies the reforms to the Law of Value Added Tax, the reforms to the Law of Contributions to Compulsory Social Security, the reforms to the Capital Market Law, the reforms to the Public Property Law. ..
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