Belgrade daily says Tax Authority to investigate origin of assets

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Source: N1

Belgrade pro-government daily Vecernje Novosti said on Wednesday that the authorities will start investigating the assets and property of state officials, business people and others in March 2021.

A special department of the Tax Authority will be in charge of implementing the Law on Determining the Origin of Assets and A Special Tax which was adopted early in March this year, the daily said. That department will include experts from the Internal Affairs Ministry, National Bank of Serbia (NBS) and Anti-Corruption Agency, it said and added that the Tax Authority chief will decide who to investigate.  

The law includes fines of up to two million Dinars (1 Euro – 118 Dinars) for companies that fail to submit the required data on their operations and of up to 150,000 Dinars for individuals who fail to keep secret data collected while determining the origin of assets. It also includes a 75 percent tax on illegally acquired assets or assets whose origin the owner can’t prove.