Laws on excises, tax on profit of legal subjects, tax on income of individuals, tax on property and tax administration should be passed till the end of the year. At yesterday’s public discussion on drafts of these laws at the Chamber of Economy of Montenegro, it was stated that September 15 was the deadline until which the proposals and opinions on these drafts should be submitted to the Ministry of finance, which proposed these drafts. “The deadline for submitting proposals is September 15 in order to confirm the text that would be directed to the Government and afterwards to the Parliament,” said deputy minister of finance Koviljak Mihajlovic. In the draft of the Law on tax on profit of legal subjects, there would be no preferences for investments, investment of foreign capital and employees from abroad. The draft of the Law on excises leaves only the taxes on alcoholic drinks, tobacco and tobacco products, as well as oil derivatives. “Regulation of the products that are sold on the territory of Serbia has so far been omitted because we are to realize the expert part and politics the rest of the job,” said Mihajlovic. She added that this law particularly affected “Jugopetrol”, “Plantaze” and “Tobacco Company”. Significant novelty in the draft of the law on tax on income of individuals is the principle of self-taxation. It would reduce tax burden but people with extra income are excluded from it. The application of tax scale in the form of tables where each company would be able to find itself is planned. The draft of the law on property relates to owning of the property, inheritance and gifts.” “The aim is to put market value on every realty which would be renewed every three years. The law should be amended with instruments which would hand over the competence from the republic to local authorities,” said Mihajlovic. The making of the law on value-added tax is underway, and it should contribute to reduction of black economy. “If the Parliament passes them till the end of the year, these laws could come into effect in January,” concluded Mihajlovic.