- Irish Prime Minister rules out implementing IMF's property-tax recommendation
- GREAT NEWS! Goyim 3 : Shabbos Goyim 0 - Riots erupt in Athens, 3 bank workers killed
- French actor Depardieu meets Putin, picks up Russian passport
- Greece given more time to meet targets
- Imminent Monetary System Collapse - Sh Imran Hosein
- Warrant out for Greek journalist over leak of politicians' alleged tax evasion
- IMF's epic plan to conjure away debt and dethrone bankers
- By the end of 2012, US will hit a fiscal cliff
- Friction at IMF meeting as global economic outlook worsens
- UN considers imposing global taxes
- France Unveils Temporary 75 Percent Super-Rich Tax Rate
- Portugal marches against austerity
- Egyptians tell Morsi to keep election promises
- Hungarian prime minister uses Facebook page to ‘unfriend’ IMF, rejects alleged loan conditions
- Rothschilds & why Gaddafi had to die - The Bank and Money Facts
You are here
Serbia Raises Taxes to Meet IMF Demands
In a revised 2012 budget that was adopted by the Serbian parliament on Tuesday (September 25th), the country's tax revenue will increase to 7.2 billion euros, up 3.3 percent from the previous budget, while the deficit will drop to 1.7 billion euros, or 6.2 percent of the country's GDP.
Along with the budget approval, MPs also voted to increase the country's VAT to 20 percent, up from the previous 18 percent, which will go into effect on Monday.
The fiscal actions come a little over a week after a delegation from the IMF was in Belgrade to discuss opening a new loan plan for the country.
In February, the Fund suspended Serbia's $1.3-billion precautionary loan because the country was slipping on the required deficit and debt targets.
After this month's visit, the IMF said it welcomed Serbia's "intention to maintain the inflation-targeting regime needed for macro-economic stability," and called for "corrective measures" to bolster the central bank's autonomy.
Source and full story: Turkish Weekly, 29 Sept 2012
Theme by Danetsoft and Danang Probo Sayekti inspired by Maksimer
Comments
Re: Serbia Raises Taxes to Meet IMF Demands
Austerity is everywhere. It is the One Percent's war on mankind. Serbia doesn't even use the euro currency.
A VAT tax is a consumption tax. Its purpose is to create depressions.
It's pretty slick how the IMF creates money from nothing, then lends it, then uses the debt to extract wealth and human energy. The masses submit to this because most people are morons. Some people are intelligent, but they are too few to make a difference.