The Committee members considered the Bill amending and modifying the Law on Capital Market, Bill amending and modifying the Law on Takeover of Joint Stock Companies, Bill amending and modifying the Excise Tax Law, Bill amending and modifying the Value Added Tax Law, Bill amending and modifying the Customs Law and the Bill on Real Estate Appraisers.

Speaking on the Bill amending and modifying the Law on Capital Market, Sanja Stankovic, representative of the Ministry of Finance, said that the existing document was not aligned with the 2014 directive concerning market misuse and the amendments and modifications to the Law would partly align it with the European regulation. Full harmonisation is expected by the end of 2018. Speaking on the Bill amending and modifying the Law on Takeover of Joint Stock Companies, Stankovic said that the proposed document was partially harmonised with the Directive on takeover bids and full harmonisation is expected by the end of 2018.

Sanja Nikolic of the Ministry of Finance said that the Bill amending and modifying the Excise Tax Law continues the harmonisation with EU directives, especially concerning excise tax on cigarettes. Nikolic said that though there is systemic harmonisation, the coming four years would achieve a minimum taxation as expected by the EU. She added that the modifications also concern excise tax on coffee, whose application will be delayed, and which related to import of coffee, its processing, etc.

Speaking of the Bill amending and modifying the Value Added Tax Law, Irina Stevanovic Gavrovic, group leaded in the Ministry of Finance Fiscal System Sector, said that the proposed amendments allow for a continued harmonisation with Directive 112 of 2006. The Bill allows for harmonisation with European regulations concerning the place of service supply and revocation of the right of VAT refunds for baby food and supplies, until the beginning of implementation of the Law on Financial Support to Families with Children.

Presenting the Bill amending and modifying the Customs Law, Vesna Hreljak Ivanovic, Assistant Minister of Finance, said that the document is highly adjusted to EU regulations. She said that the amendments concern a correction to the preferential treatment of certain persons, as well as the revocation of customs-free mailing regime for medicines. The amendments and modifications also relate to the establishment of a database on submitted requests for protection of intellectual property rights.

Dejan Hadzic of the Ministry of Finance said that the primary task of the Bill on Real Estate Appraisers is harmonisation with the Directive on mortgage credits. It is yet to be harmonised with directives concerning services on the EU internal market and recognition of the profession.

The Committee members accepted the bills in principle, by majority vote.

The sitting was chaired by Committee Chairperson Marinika Tepic, and attended by the following Committee members and deputy members: Dusica Stojkovic, Zarko Micin, Zvonimir Djokic, Dragan Veljkovic, Elvira Kovacs, Aleksandar Stevanovic, Vesna Markovic, Olivera Pesic, Ivan Karic and Dr Muamer Bacevac.