Kosovo, 100 percent tax yields positive effects on domestic products

"The fee set by the Government of Kosovo for products imported from Serbia and Bosnia and Herzegovina has increased the consumption of domestic products," say business representatives.

Kosovo, 100 percent tax yields positive effects on domestic products

The Kosovo Business Alliance has conducted a survey on the impact of the 100 percent tax on the Kosovo economy from 21 November to 5 December 2018.

In this research, "AKB" is said to have surveyed 300 companies selected in the food, trading, service and construction industries, with 250 Kosovo customers.

Based on this study, the 100 percent yield has had positive effects on domestic production. Domestic production, over this period of time, has increased by 25 percent.

The Kosovar companies themselves acknowledge that production has increased, and even the number of employees has increased. Some owners say they have extended working hours, added tournaments, and are working on the weekend.

Trade remains the most preferred economic activity in Kosovo, leaving behind production. Producers in Kosovo have repeatedly called on the country's institutions to create favorable fiscal policies to boost the production sector.

Local producers are now required to increase product quality, while the Kosovo Government is required to subsidize businesses in order to strengthen them.

Kosovo, according to the statistics agency statistics, continues to face high trade deficit. Due to the weak manufacturing industry in Kosovo, the export of "Made in Kosova" products to various countries of Europe and the world amounts to over 300 million euros per year, while the import of foreign products in the country amounts to about 3 billion euros per year.