Amendment of a Set of Tax Laws

The National Assembly of the Republic of Serbia adopted a set of amendments to the tax laws and laws on excises, which were published in the Official Gazette of RS no. 153/2020 of December 21, 2020. I  LAW ON CITIZENS’ INCOME TAX Increase of untaxable amount The first significant novelty introduced by the Law amending the Law on Citizens’ Income Tax refers to the increase of untaxable amount. Namely, the tax base for salaries is comprised of salary under this law, reduced by the amount of RSD 18,300.00 instead of previous untaxable amount of RSD 16,300.00. The first adjustment of...

New Measures for Mitigating Economic Consequences of COVID-19

I REGULATION OF THE GOVERNMENT OF THE REPUBLIC OF SERBIA The Government of the Republic of Serbia adopted the Regulation on the Procedure and Manner for Deferral of Payment of Due Taxes and Contributions for the Purpose of Mitigating Economic Consequences Caused by COVID-19, which was published in the Official Gazette of RS no. 156/2020 of December 25, 2020 (“the Regulation“). This Regulation specifies the procedure and manner of deferring the payment of due taxes and contributions for mandatory social insurance, the maturity whereof was deferred in accordance with the Regulation on Fiscal Facilities and Direct Payments to Economic Entities...

Highest and Lowest Base of Contributions for 2021

In accordance with the Law on Social Insurance Contributions, the Ministry of Finance has published the amounts of highest and lowest base of contributions for mandatory social insurance that will apply from 1 January until December 31, 2021. The highest monthly base for calculation and payment of contributions for mandatory social insurance is RSD 405,750. The lowest monthly base for calculation and payment of contributions for mandatory social insurance is RSD 28,402. The highest annual base for contributions for mandatory social insurance for 2021 is RSD 4,869,000. These amounts have been published in the Official Gazette of RS no. 154/2020...

Crypto-Currencies Finally Have a Regulatory Framework – the Law on Digital Assets Has Been Adopted

The National Assembly of the Republic of Serbia adopted the Law on Digital Assets that was published in the Official Gazette of RS no. 153/2020 of December 21, 2020. This law regulates the issuance of digital assets and secondary trade in digital assets in the Republic of Serbia, rendering of services relating to digital assets, pledge and equitable property of digital assets, as well as competences of the Securities Commission and the National Bank of Serbia. This law shall enter into force on December 29, 2020 and it shall be applied upon the expiry of six months of entry into...

New Law on Fiscalisation Adopted

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...

Reminder for Employers to Update the Data In the Central Register of Mandatory Social Insurance

Deadline prescribed by the amendments to the Law on Central Register of Mandatory Social Insurance ("ZOCROSO") expires soon, according to which employers must adjust registered data to the Decision on single codebook for entry and codification of information in databases in the field of labour  ("Decision") no later than January 1, 2021. We have already written about this obligation for employers in the article available here. Employers i.e. applicants of single application are obliged to update the previously entered information in the single database CROSO, in relation to occupation, type and level of qualification, i.e. education that are required for...

Extended Statute of Limitations for Customs Debt

The National Assembly of the Republic of Serbia adopted the Law amending the Customs Law published in the Official Gazette of RS, no. 144/20 of 27 November 2020 (“the Law“). Extension of the statute of limitations The key novelty of the Law refers to the extension of statute of limitations of customs debt, which provides the state with more time for reacting and protecting its interests. Namely, so far the Customs Law stipulated that customs debt cannot be charged after the expiry of three years after it had been generated. However, such deadline has been extended so that now customs...

Novelties in the Law on Property Taxes

The National Assembly of the Republic of Serbia adopted the Law amending the Law on Property Taxes that was published in the Official Gazette of RS, no. 144/20 of November 27, 2020 (“the Law“). The main reason for adopting this Law is contained in the need to transfer the competence for the establishment, collection and control of inheritance and gift taxes and taxes on transfer of absolute rights from Tax Administration to local self-government units. The Law is also adopted for the purpose of alignment with the laws regulating open investment funds i.e. alternative investment funds. Also, certain provisions are...

Amendments to the Law on Tax Procedure and Tax Administration

The National Assembly of the Republic of Serbia adopted the Law amending the Law on Tax Procedure and Tax Administration that was published in the Official Gazette of RS, no. 144/20 of November 27, 2020 (“the Law“). The main reasons for adoption of the Law are contained in creation of legal basis for the taxation system in the Republic of Serbia to cover open investment funds i.e. alternative investment funds that do not have capacity of legal entity and which are entered into relevant register in accordance with law, as well as in further simplification of tax procedure and improvement...

Mandatory Issuance of E-Invoice From 2022

Application of the new Law on Accounting (Official Gazette of RS no. 73/2019) has started on 1 January 2020, with exception of certain provisions whose application was further delayed. This was the case with Article 9, para. 3 of this law, which will start to apply from 1 January 2022. This provision stipulates that the invoice as accounting document shall be prepared and submitted to legal entities and entrepreneurs in electronic form and it shall be certified by responsible person who certifies its validity by his/her signature or other identification mark. Identification mark shall be defined by a general act...