The Ministry of Finance of Serbia will make a proposal for an additional reduction of wage taxes and contributions in September, Finance Minister Sinisa Mali said at a conference on gray economy.

– It remains to be seen how this will be done, whether through taxes or contributions and how much this will cost the budget. But we will achieve much more through reducing gray economy and increasing the employment rate. In September, we will come out with a concrete proposal as to which taxes and contributions will be addressed and in which amount, along with an assessment of the effects – Mali said.

At the fourth annual conference “Exiting Gray Economy”, where the new national program for countering gray economy was presented, Mali said that reducing the fiscal burdens was one of the most significant requests made by business people, but also a potential source of gray economy.

– The government’s long-term plan is to direct fiscal policy toward keeping the deficit low, reducing the public debts and reducing wage taxes and contributions – Mali said at the Palace of Serbia.