The government approved an amendment to the VAT law on October 24 lowering the top VAT rate from 25 to 23 percent. Tourism and accomodation services will be subject to a 6 percent VAT, while a maximum three-year tax holiday will be granted to businesses constructing new accomodation-type facilities. The new law improves conditions for exporters and halves the sanctions for incorrect VAT payments.
8. Nov 1995 at 0:00 | From press reports of TASR and SITA