Serbia taken off EU gray list of tax havens, Finance Ministry says

NEWS 10.10.201921:14
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Serbia has been taken of the European Union gray list of tax havens after meeting its obligations and aligning with OECD and EU standards, the Finance Ministry said on Thursday.

The Finance Ministry said that the Serbian government met its obligations in terms of international tax cooperation and transparency in exchanging tax data.  

The statement quoted the EU Council of Ministers which said that the OECD recommended Serbia’s removal from the list and recalled that Serbia signed the Convention on Multilateral Administration Cooperation which was later confirmed by parliament.  

“This is proof that we are implementing reforms rapidly and bringing our tax system in line with European and global Standards. The power of a country’s tax system is reflected in the introduction and implementation of regulations, a well-established system of oversight and control and risk management,” Finance Minister Sinisa Mali is quoted as saying. Mali said that the government is successfully implementing its obligations in improving tax policy and the rapid exchange of information and added that this is just a piece of the puzzle which leads to complete fiscal harmony and integration into the EU while removing tax obstacles to the free flow of goods and capital.  

The Finance Ministry statement said the EU list contributes to efforts to stop tax evasion and promote transparency, fair taxation and international standards to prevent tax erosion. It recalled that the EU drew up a black and a gray list of tax havens in December 2017.