Falkensteiner Hotel in Belgrade hosted the participants of the regular monthly gathering of „Association of Chief Financial Officers of Serbia (UFDS/CFO)“ in April this year. The idea behind the meeting was to have an open discussion about tax incentives which are avaiable at the moment. Participants of the panel were Deloitte company on one side, and our company, as a representative of economy and user of reliefs.
Considering the specific activity of mold making and IML robots production, we are facing a constant challenge to innovate and improve the processes and the technology of production itself. That fact has caused us to recognize ourselves as a company which should contribute to its business activities through incentives for research and development as well. For two years already Inmold has been using the incentive of double recognition of development projects costs, which helps to achieve a reduction in profit tax to a certain extent. In this meeting, our chief accounting officer, Tanja Topalović highlighted adequately prepared documentation, convincing at first reading, and the common attitude of the panel participants is that it is necessary to have a good chief accounting officer as an associate. A new opportunity for Inmold, but also a challenge, are the special reliefs which take effect from March 1, 2022, and which, in addition to innovations and development, also concern profit tax. Special thing about these reliefs is that each payment of salary requires documentation and also a calculation of used time, excluding business trips, trainings, meetings, etc.
In addition to reliefs, in the past year Inmold also received co-financing grant from Innovation Fund for a project called ,,Inmold labeling ultralightweight packaging mould”. Together with his team, Radosav Joksimović, mechanical engineer and long-term employee of our company, developed the lightest, thin-wall, 1l bucket in the world. As a result of the project, the weight of the bucket was reduced from 36g to 24.5g, which brings about a saving of 31.94% in consumption of raw material.
Thanks to the granted funds, Inmold has definitely improved its business with new Hermle CNC milling machines, while further education, trust and competence, will help us to further strive towards progress, market positioning, but also towards being globally recognizable. We would like to remind that, from March this year, Inmold has also been crowned as ,,development-production center ” by Ministry of Education, Science and Technological Development.
Association of Chief Financial Officers of Serbia
