Expert discussions held on the Draft Law on Tax Procedure and the Draft Law on Amendments to the Law on Accounting and Auditing of Republic of Srpska
The Committee on Finance and Budget of the National Assembly of the Republic of Srpska held today in the National Assembly Expert Discussions on the Draft Law on Tax Procedure and the Draft Law on Amendments to the Law on Accounting and Auditing of Republic of Srpska.
Vice President of the National Assembly of Republic of Srpska and Chairman of the Committee on Finance and Budget Zeljka Stojčić said that the reason for drafting the Law on Tax Procedure was harmonization with the provisions of other laws, primarily for electronic filing of taxpayer registration applications.
She stated that this harmonization will shorten the time and cost of taxpayers and will accelerate the introduction of taxpayers into the registration system and their monitoring by the RS Tax Administration.
Regarding the Draft Law on Amendments to the Law on Accounting and Auditing of Republic of Srpska, Stojičić said that this draft made the most changes in monitoring the work of the auditors, regardless of whether they work independently or as legal entities.
According to her, the news is that they are obliged to enter in the register kept by the Ministry of Finance of Republic of Srpska and have an obligation of professional liability insurance, while previously they were insured for each individual report.
She stated that they also have an obligation to inform the Ministry of Finance of the work program for the coming year, that is, they must submit contracts signed for carrying out audit.
Regarding the work of certified accountants and accounting technicians, Stojičić said that the Draft indicated the need to raise the profession to a higher and higher level in terms of their work and supervision.
"This is the responsibility of the Tax Administration of the Republic of Srpska, as well as the control over the preparation of financial statements and their further use in the tax procedure law, where on the basis of these financial statements tax returns are filled in and submitted to the Tax Administration, which determines the tax liability," said Stojčić.
These draft laws were adopted at the 8th Regular Session of the National Assembly of the Republic of Srpska, and the Parliament, by its conclusion, instructed the Committee on Finance and Budget to organize an expert discussion attended by deputies, representatives of the competent institutions of the Republic of Srpska, professional organizations, associations, the business community, the Federation trade unions of the Republic of Srpska, the Chamber of Commerce of the Republic of Srpska, NGOs, business entities engaged in auditing and accounting services.