The Ministry of Finance and the Tax Administration (TA) have announced that they will conduct an inspection of the Deposit Protection Fund (DFZ) in order to determine whether that institution receives benefits from providing its activities, which is why it should pay profit tax. This was announced by the Minister of Finance Darko Radunović and the director of PU Miomir M. Mugoša in response to the question of the independent MP Aleksandar Damjanović about what activities they undertook regarding the collection of profit tax from the FZD, whose director is Predrag Marković.
Damjanović requested information based on the rules of procedure of the parliament. He reminded Radunović that the amendments to the Law on Deposit Protection from 2015, Article 12 defined that "the fund is liable to pay income tax and other taxes in accordance with the law", while until then the ruling was that "the fund is exempt from paying taxes and fees when performing deposit protection activities".
"According to the data available, the PU fund did not submit a tax return for income tax, as well as financial statements. Article 6 paragraph 1 and 2 of the Law on Corporate Profit Tax prescribes that public funds do not pay profit tax, if they are established in accordance with a special law to perform non-profit activities.
If public funds perform a profitable activity, in that case they are liable for profit tax on that activity.
Since FZD did not submit a profit tax return, this indicates that it did not perform a profitable activity.
The inspection that will follow will determine whether the FZD is engaged in the provision of services with compensation as part of its activities, and based on that, determine the fund's tax liability," said Radunović.
The fund is financed, among other things, from fees paid to it by banks.
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