The Ministry of Commerce, Tourism and Telecommunications of Serbia (MCTT) announced that it has launched an initiative to reduce value-added tax (VAT) on hospitality and catering services from 20 to 10%.
“The introduction of the so-called VAT COVID-19, following the example of most European countries, should significantly mitigate the blow suffered by the tourism sector due to the consequences of the pandemic”, said Minister Tatjana Matic, as reported by the MCTT.
One of the proposals is to discuss with the National Bank of Serbia (NBS) the possibility of extending the moratorium on payment loans to the companies in this sector.
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Tatjana Matić also underlined that in order to mitigate the consequences of the pandemic on the tourism sector, amendments to the regulation on the classification and renewal of licenses to travel organizers, as well as to the regulation on travel guarantees and deposit amounts, which came into force on November 14, were adopted at the proposal of the line Ministry.
“The main novelties are the introduction of two lower categories of licenses, with a lower limit of collateral for the travel guarantee, while the requests of travel agencies to reduce the deposits that agencies must have on their account on the last day of the month have been met,” the Minister adds.
She also said that the new regulations offer agencies the opportunity to change the license to a lower category, with a significantly lower limit of required collateral, and then to conclude a travel guarantee contract with insurers or provide a bank guarantee.
(Slobodna Evropa, 17.11.2020)
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