At its session held on 26 October 2023, Serbian Parliament adopted the Law on Amendments to the Law on Electronic Invoicing (Law). The Law was published in the Official Gazette of the Republic of Serbia No. 92/2023 on 27 October 2023.
The Law will apply as of 1 January 2024, except for the provisions related to the electronic recording of input VAT which will apply for the tax periods beginning after 31 August 2024 in line with the VAT Law.
The most important novelties are presented below.
Electronic recording of VAT in SEF
Amendments to the Law introduced a new shorter deadline for electronic recording of VAT. Namely, in line with these amendments, the deadline for electronic recording of VAT is 10 (instead of previous 15) days after the end of tax period.
In addition, if after the expiration of the specified deadline of 10 days a change occurs that has impact on electronic recording of VAT, the company corrects the electronic recording of VAT within the deadline for submission of VAT return for the tax period in which this change occurred.
Electronic recording of input VAT
The Law introduces completely new obligation for VAT payers in the form of the obligation to electronically record the VAT calculated in the previous phase of supply, i.e. the VAT paid when importing goods.
Such recording should be done regardless of whether the VAT payer can exercise the right to deduct the input VAT that is recorded.
Deadline for electronic recording of input VAT is 10 days after the end of tax period.
If after the expiration of the specified deadline of 10 days a change occurs that has impact on electronic recording of input VAT, the company corrects the electronic recording of input VAT within the deadline for submission of VAT return for the tax period in which this change occurred.
If you have any questions or you need assistance of our tax professionals, please contact us at tax@kpmg.rs
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KPMG Tax & Legal Department
KPMG d.o.o. Beograd
Milutina Milankovića 1J
11 000 Belgrade, Serbia
T: +381 11 20 50 500
F: +381 11 20 50 550
tax@kpmg.rs
