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Minister of Finance stated that effects of the suppression of shadow economy are more visible


​Minister of Finance of the Republic of Srpska, Zora Vidovic, stated to the Radio televizija Republike Srpske that the effects of the suppression of the shadow economy in the Republic of Srpska are increasingly visible. She emphasize that adopted Law on Amendments to the Law on Fiscal Cash Registers is a significant measure in this process.

According to her estimates, the positive effects of the amendments to this law will be to combat the shadow economy, to provide more funds in the budget, and to place economic entities on an equal position.

Stating that the employers and Government share the opinion that the burden of work is high, she stated that it can be reduced only with expanding of the tax base.

„Therefore, our target is on those who now illegally work and to transfer them to the regular payment of taxes and contributions system," said Minister Vidovic.

"We already have the most of the revenues into legal flows", she stated and stressed that the revenues from profit in the Republic of Srpska was more than two billion BAM in the past years, leading to increase in salaries.

Stating that incomes of the Republic of Srpska are steadily increasing and that they are three percent higher than last year, she pointed out that the highest growth was recorded in gambling revenues, and that this was a consequence of the adoption of the Law on Games of Chance.

"It's a very good law, it's not an accurate media statement that people will lose their jobs due to this law and the game makers will be logged out. We have an increased number of organizers since we passed the Law and all who did legal and serious work were expecting to do update Law. No one will lose his job and will not be imprisoned, except for those who work illegally, "she said.

Vidovic said that she is expecting in the coming year, double growth in gambling revenues is expected in relation to this year, and that the available funds will be used primarily for investments, then for the increase of pensions and salaries and wage benefits.

"Additional support to combating the shadow economy is a prize game "Ten fiscal accounts for the apartment prize", said Vidović, added that the goal of this game is to involve citizens in the fight against the shadow economy.

According to Minister the most effective method for combating the shadow economy is not only in work on Laws and bylaws and measures, but to include the citizens of the Republika of Srpska.

"We must become aware that the payment of obligations, taxes and contributions raises the standard of all citizens, and that's why we organized this prize game," pointed to the Radio televizija Republike Srpske Minister of Finance.

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