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Serbian Tax Reforms 'Showing Results'

Tatiana Smolenskaya,, Moscow

26 March 2015

Serbian Minister of Finance Dusan Vujovic is upbeat about the positive effects of recent reforms and has called on Austrian businesses to consider investing in Serbia.

Speaking at the "Serbia in Austria 2015" business forum in Vienna, Vujovic said that investors could benefit from access to the markets of the various countries with which Serbia has tariff-cutting free trade agreements, potentially unlocking a market of more than 800m people.

He highlighted recent fiscal and structural reforms implemented by the Government, which are aimed at creating a less restrictive business environment. He also noted efforts to reduce bureaucracy and speed up administrative procedures.

He said the fiscal outlook is improving for the nation, enabling it to offer a more stable tax environment. He said the fiscal deficit was reduced by 25 percent last year, due largely to higher VAT and excise duty receipts.

TAGS: environment | Finance | tax | business | public sector | law | Serbia | agreements | Austria | construction | trade

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