At the sitting, the Committee also considered, in principle, the Bill amending and modifying the Budget System Law, Bill amending and modifying the Law on Tax Procedure and Tax Administration, Bill amending and modifying the Value Added Tax Law, Bill amending and modifying the Personal Income Tax Law, Bill amending and modifying the Excise Tax Law, Bill amending and modifying the Law on Tobacco, Bill amending the Law on Republic Administrative Fees, Bill amending and modifying the Law on Fiscal Cash Registers, Bill amending and modifying the Law on Local Self-Government Funding, Bill amending and modifying the Law on Tourism, Bill amending the Law on Privatisation, Bill amending the Law on Compulsory Traffic Insurance, Bill amending and modifying the Law on Court Fees and the Bill Establishing Maximum Earnings in the Public Sector, submitted by the Government.
Explaining the Bill amending and modifying the Republic of Serbia 2012 Budget Law, with its accompanying proposals of decisions granting consent to the decisions amending and modifying the financial plans for 2012 of: 1) the Republic Pension and Disability Insurance Fund, 2) the Republic Health Insurance Fund, and 3) the National Employment Service, the representative of he submitter, Minister of Finance and Economy Mladjan Dinkic, pointed out the most important items related to income and expenditure as envisaged by the Bill, which should help fiscal consolidation. Minister Dinkic stressed that the main goal of this and all the other bills listed is to reduce the budget deficit from 7 to 4% GDP and achieve fiscal consolidation.
Pavle Petrovic, President of the Fiscal Council, assessed the bills as useful for the reduction of the budget deficit, but said that the Bill amending and modifying the Republic of Serbia 2012 Budget Law envisages an increase in expenditure. The Fiscal Council suggests trying to eliminate some of the expenditure and through rebalance enter into a reduction of the budget deficit, said Petrovic.
Following a debate in which the Committee members, MPs and representatives of the Standing Conference of Towns and Municipalities gave their opinion and assessment of the proposed bills, the Committee adopted the bills in principle.
At the sitting, the Committee also adopted, in principle, the Bill on the Confirmation of the Proposal of Amendments to the International Monetary Fund Statute on the reform of the Executive Board, submitted by the Government.
The sitting was chaired by the Committee Chairperson, Vesna Kovac.