Serbia-Change in Excise Law-Government changes petroleum excises without previous change in Law

Government of Serbia sent suggestion for change in Excise Law to the Parliament for adoption. Change in Law concerns giving of authorizations to the Government to increase or decrease excises on oil derivatives without previous change in Law. According to explanation enclosed with the suggestion, in case of increase in production price of oil derivatives caused by increase in price of oil on the world market, Government is free to temporarily reduce excises on those products in order to protect macroeconomic stability. If price of oil on the world market decrease, the excises can be increased.

The suggestion of change in Excise Law implies that the excises on tobacco products will be set in some other way, which will enable growth of budget incomes by 4 billion CSD in 2005 in comparison with the year of 2004. New Law will regulate minimal excise that will be set on the basis of "the most popular price", i.e. price of the best-selling cigarettes. (Pregled)