Amendments to the Rulebook were published in the Official Gazette of the Republic of Serbia n0 8/2014 on 29 January 2014 and came into force on the day after. Given the effective date, the Amendments will be applicable on transfer pricing documentation which has to be prepared for related party
transactions in 2013.

Primary objective of these Amendments is to decrease requirements set before taxpayers, particularly with respect to transactions which are not expected, because of their value, to materially impact tax liability. It is expected that the
Amendments to the Rulebook will provide relief to taxpayers with respect to preparing transfer pricing documentation.

Since this is the first time that detailed transfer pricing documentation requirements are being applied, it is important to keep up with the development of new regulations and practice. KPMG will continue to monitor and report on developments in this complex field, as well as on their
possible impact on tax obligations and general activities of business entities.

Please note that the deadline for submission of transfer pricing documentation report to the Tax Authorities is unchanged – 30 June 2014.