Serbia: Amendments to VAT rulebook

The Minister of Finance adopted two amendments to the rulebook on value added tax

The Minister of Finance adopted two amendments to the rulebook on value added tax

The Minister of Finance on 31 January 2023 adopted two amendments to the rulebook on value added tax (VAT)—number 7 effective 1 February 2023, and number 15 effective 1 March 2023—with the primary purpose of harmonizing with the fiscalization and e-invoicing regulations.

The amendments concern:

  • Supply of services of foreign entities free of charge
  • Change of tax debtor after advance payment is made
  • Market value as the VAT base
  • Decrease in base after subsequent fulfillment of requirements for tax exemption with a right to deduct input tax
  • Obtaining tax exemptions with the right to deduct input tax
  • Issuance of invoices
  • Invoice for multiple individual supplies
  • Invoice in case of VAT exempt supply
  • The concept of a corporate card
  • Issuance of a credit note when the collected advance payment ceases to be considered an advance payment
  • Internal calculation
  • Attachment to the invoice

Read a March 2023 report [PDF 1.6 MB] prepared by the KPMG member firm in Serbia

 

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.