The Ministry of Finance of the Republic of Serbia has adopted the Amendments to the Rulebook on Value Added Tax (Rulebook), which are published in the Official Gazette of the Republic of Serbia No. 116/2023 dated 26 December 2023.
Respective changes apply as of 1 January 2024.
The most important novelties are presented below.
Tax exemption for supply of goods under customs warehousing procedure
It is envisaged that the tax debtor will be able to exercise the right to a tax exemption for supply of goods under customs warehousing procedure in the case of collection or advance payment for the future supply of goods (which have not yet been placed under customs warehousing procedure at the time of payment of the advance), if he possess a contract proving that it is compensation or part of the compensation for the supply of goods that will be executed while these goods are under customs warehousing procedure.
Invoice for multiple supplies
It is specified that an electronic invoice for multiple supplies can be issued for a period shorter than a calendar month.
Accordingly, it is prescribed that in the case of issuance of an electronic invoice for multiple supplies, the last day of the period for which the electronic invoice is issued shall be indicated as the date of supply.
Fiscal invoice issued to a public sector entity
It is specified that the fiscal invoice issued for supply for which an electronic invoice is issued at the request of a public sector entity is not considered an invoice in accordance with the VAT Law.
If you have any questions or you need assistance of our tax professionals, please contact us at tax@kpmg.rs
For previous editions of KPMG Tax Alerts please visit the following web page:
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
