The Serbian government intends to cut the country's corporate taxes to the lowest level in Europe, Finance Minister Mladjan Dinkic announced on Tuesday.
According to reports in the regional media, Mr Dinkic explained that the government hopes that a reduction of the corporate tax rate from the current 14% to 10% will attract foreign investment, cut corporate tax evasion, and boost economic growth.
The Serbian authorities are reportedly anticipating economic growth of 6% in 2004.
This follows a recent spate of tax cutting activity in central and eastern Europe and the Balkans, a trend which has angered relatively high-taxing EU members such as France and Germany, which argue that several of the newer member states have created an unfair competitive advantage for themselves by acting in this way.
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