New Law on Fiscalisation Adopted

New Law on Fiscalisation Adopted

December 30, 2020

The National Assembly of the Republic of Serbia adopted the Law on Fiscalisation, which was published in the Official Gazette of RS no. 153/2020 of December 21, 2020.

This law shall start to apply from January 1, 2022.

The main reason for adoption of this law is based on the need to establish a system that will ensure that any retail in goods and services and any advance payment for future retail in goods and services is registered through electronic fiscal device.

Therefore, the main goals of establishment of new fiscalisation system are as follows:

  • Efficient control of all deliveries of goods and services, including received advances for future retail of goods and services, which will significantly contribute to reduction of grey economy in this area and improved tax collection;
  • Creating conditions for Tax Administration to efficiently monitor and control taxpayers that are likely to avoid tax payment, as well as increase in the number of tax controls in the seat of tax authority, which reduces the need for field control that is one of the main backdrops of the existing fiscalisation system;
  • Extension of fiscalisation to all taxpayers on basis of income from independent activity in terms of the law regulating citizens’ income tax and all taxpayers of corporate profit tax in terms of the law regulating corporate profit tax, which performs retail business, whereas it is envisaged that it is possible to exceptionally exclude certain activities from the obligation to register retail through fiscal device only in particularly justified cases;
  • Reduction of costs for subjects of fiscalisation and producers i.e. suppliers of electronic fiscal devices for trade registration that imply administrative procedures and fees that need to be paid for such purposes.

Therefore, the new law undeniably regulates the subject of fiscalisation to a greater extent, the procedure of fiscalisation through electronic fiscal device, the content of fiscal receipt, it defines the subjects of fiscalisation and regulates other issues of relevance for fiscalisation so as to avoid any future doubt in the field of fiscalisation and trade recording.

This article is to be considered as exclusively informative, with no intention to provide legal advice.
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