ELEMENTI FISKALNOG TRETMANA INVESTICIONIH FONDOVA

Petrović Pero (European Union, Financial market, development, treatment, investments funds), pera@diplomacy.bg.ac.rs
Živković Dragan

Financial market development largely depends on the efficient functioning of investment funds. Developed and well-organized investment funds in the world (in the USA, Great Britain and elsewhere) have set up rather high standards of organization and infrastructure of the securities market. The enactment of the relevant Serbian Law means that the conditions in the domestic market have also been advanced and particularly regarding the business operation of recently founded investment funds and other forms of funds functioning in our investment system. The topic elaborated by the author is divided into the following themes: development of investment funds in Serbia (until now four have been established) and neighbouring countries; possibilities of establishing and business operation of domestic investment funds, where the Law on Privatization is the principal legislative instrument; financial reporting as an important element for proper functioning of investment funds, which activity is carried out under international accounting standards; fund management company and its fiscal aspect – which makes the central part of the present report; application of the Law on Taxing Citizens Income; limited liability company as a relevant element in the investment fund operation; supervision over the work of investment funds – where the National Bank of Serbia is an important factor. In conclusion, the author emphasizes the need for promoting and advancing the relevant environment and space by establishing and implementing the regulation of the financial system through adequate legislation as well practice.

Ključne reči: European Union, Financial market, development, treatment, investments funds