SARAJEVO, Bosnia (September 22,2008) - Delegates of Bosnian Social Democratic Party (SDP) in the Bosnian State Parliament's House of Representatives sent into the parliamentary procedure draft law on fiscal cash registers.
SDP delegate, Zlatko Lagumdzija at the press conference in the Bosnian capital Sarajevo stated that this is basically law on cash registers against tax evasion.
This law regulates the sector as a whole, strengthens state institutions, decreases tax theft and costs we now have for administration which evidently has higher and higher demands on all levels.
SDP believes this leaves room for decrease of VAT rate.
Lagumdzija mentioned that proposed law could be adopted by the end of the year.He stated that the concrete application of this law would cut down a great deal of grey economy and contribute to regulation of tax discipline in Bosnia.