FinMin: Tax reforms core of fiscal policies

Economic growth and consequently increased employment, the continuation of fiscal consolidation and activation of 'dormant' capital will be the pillars of fiscal policies in the coming period with special emphasis on an overall tax reform, Finance Minister Zdravko Maric said on Friday, but he stopped short of specifying tax reforms.

He reiterated that the proposed tax reform is almost completed and that "it is necessary to fine-tune certain final details at the political level and to go through certain public debate," and all these are essential preconditions to inaugurate parliament today and in the days to follow with the appointment of a new government.

"There is not a lot of time. From the start, I have said that I will strongly advocate the approach that amendments to tax legislation be applied as of the start of next year. I am not in favour for tax changes during the year but we will see what the days to come will bring. From the perspective of the finance ministry and all those who worked on the tax reforms, we will do our bit and then we will see what the next steps will be," Maric said.

He denied speculation regarding certain segments of the taxation system, saying that no-one except those people who actually worked on them know the details.

He added that analysis has shown that the current taxation system is extremely complex, complicated and confusing and the first and basic reform is to simplify it, raise its transparency and finally improve its efficiency.

Maric added that he remained of the attitude that what was most important in fiscal policies is to control the expenditure side of the budget, to use all surplus to reduce the deficit and debt and then to create preconditions for tax reliefs.

Last update: Fri, 14/10/2016 - 15:00
Author: 

More from Croatia

PM and county heads to identify priorities of Croatia's regions

Addressing a two-day conference on competitiveness of local self-government, held in Trakoscan, Prime Minister...

Croats bag 1 silver and 5 bronze medals at Int'l Junior Science Olympiad

Croatian students pocketed a silver medal and five bronze medals during the 13th edition of the International Junior...

Orepic says has highlighted message of Cons. Court judges' selection

Interior Minister Vlaho Orepic has said that his criticism regarding the Constitutional Court is aimed at...

Prince Charles and Dutches Camilla unveil royal Christmas card, taken in Croatia

Charles, Prince of Wales and his wife Camilla, the Duchess of Cornwall, have chosen a photograph taken on 15 March,...

Parliament, HDZ commemorate 17th anniversary of Tudjman's death

On the occasion of the 17th anniversary of the death of the first president of the Republic of Croatia and the...