29
Fri, Mar
51 New Articles

Amendments to the Regulations in the Field of Electronic Invoicing And Fiscalisation

Amendments to the Regulations in the Field of Electronic Invoicing And Fiscalisation

Serbia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Amendments to the Law on Electronic Invoicing (Off. Gazette of RS no. 44/2021 and 129/2021), the Law on Fiscalisation (Off. Gazette of RS no. 153/2020, 96/2021 and 138/2022) and the Law on Deadlines for Settlement of Monetary Obligations in Commercial Transactions (Off. Gazette of RS no. 119/2012, 68/2015, 113/2017, 91/2019, 44/2021, 44/2021 – other law, 130/2021 and 129/2021 – other law) have been published in the Official Gazette of the Republic of Serbia no. 138/2022 of December 12, 2022.

Law on Electronic Invoicing

The key amendments of this regulation are as follows:

  • It is specified that provisions of the law shall not apply to natural persons who are not subject to personal income tax for self-employment (in terms of the law regulating personal income tax).
  • Special obligations are stipulated as regards VAT recording; namely, VAT taxpayers shall be obliged to electronically record VAT calculation in the system of electronic invoices, as well as the persons who are not VAT taxpayers – public sector entities and voluntary users of electronic invoicing system.

It is also stipulated that electronic recording of VAT calculation shall be done cumulatively, for all liabilities, by expressing the information regarding the basis and calculated VAT, separately by tax rates. Exceptionally, electronic recording shall be done individually per liability, by expressing the information on the basis, tax rate and calculated VAT, for:

  • turnover of goods and services, including an advance payment for which the recipient of goods and services is obliged to pay taxes; and
  • turnover of goods and services which is done with remuneration to the taxpayer for income from self-employment and taxpayer of corporate income tax, including the received advance payment that the supplier of goods and/or provider of services is obliged to pay taxes for.

If the transactions that are not subject to mandatory electronic invoicing are nevertheless electronically invoiced, there is no obligation to record the VAT calculation.

  • In addition, a possibility for subsequent acceptance of a rejected electronic invoice is prescribed, as well as the moment of receipt of an electronic invoice issued when there is a temporary interruption in the operations of electronic invoicing system. Namely, it is now stipulated that the rejected electronic invoice may be subsequently accepted, whereas the electronic invoice shall be considered submitted at the time of issuance according to this law, unless there is temporary interruption in the operations of electronic invoicing system, in which case the electronic invoice shall be considered delivered at the time of re-establishment of the operations of electronic invoicing system. Proceeding in case of temporary interruption in the operations of electronic invoicing system shall be regulated in detail by a bylaw.

These amendments shall enter into force on January 1, 2023.

Law on Fiscalisation

By amendments to this regulation:

  • A term of retail is specified and prescribed that retail (that is subject to fiscalisation) shall not include trade outside retail shop if the user of supplied goods and rendered services and/or goods and services that will be supplied or rendered in case of received advance payment is a legal entity, i.e., payer of tax based on income from self-employment. In relation thereto, it is also prescribed that a retail shop shall mean any business premises that are primarily used for trade in goods and rendering services to natural persons, as well as headquarters of fiscalisation taxpayer that performs retail in form of online remote trading.
  • Mandatory content of fiscal receipt is changed by deletion of provision under which this receipt needs to contain the value of turnover by tax rates.
  • It is prescribed that all information from the Fiscalisation Management System (a software application of the Tax Administration that collects all data from the fiscal receipts processors), which refer to fiscal receipts issued to legal entities, i.e., payers of tax for income from self-employment, shall be transferred to the prescribed electronic invoice system upon fulfilment of technical requirements, which will be regulated by passing a bylaw.

These amendments have entered into force on the eighth day upon their publishing i.e., on December 20, 2022.

Law on Deadlines for Settlement of Monetary Obligations in Commercial Transactions

In relation to the previously mentioned amendments to the Law on Electronic Invoicing and Law on Fiscalisation, certain adjustments have also been made in the Law on Deadlines for Settlement of Monetary Obligations in Commercial Transactions, i.e.:

  • It is stipulated that this law regulates registration of electronic invoices and other payment requirements in electronic form in the central invoice register, which were issued by creditors in commercial transactions between public sector and commercial entities, i.e., between public sector entities where the said entities are debtors, on basis of information obtained from the electronic invoices system.
  • In relation thereto, certain terminological specifications have been made by stipulating that electronic invoice and electronic invoice system shall have the meaning established in the Law on Electronic Invoicing.
  • It is prescribed that the deadline for settlement of monetary obligations (regulated by a contract between commercial entities, legally prescribed deadline of 60 days and deadline defined with respect to contractual obligations requiring payment in instalments for the delivered goods and/or rendered services, which may not exceed 90 days) shall start on the first day following the day of issuance of electronic invoice through electronic invoice system, when it shall be deemed that the debtor received electronic invoice from the creditor which fulfilled its agreed obligation.
  • It is also prescribed that the minister in charge of finance shall more closely regulate the manner and procedure of registering electronic invoices in the central invoice register, as well as the manner of keeping and the content of this register.

These amendments have also entered into force on December 20, 2022.

This article is to be considered as exclusively informative, with no intention to provide legal advice. If you should need additional information, please contact us directly.

By Lara Maksimovic, Senior Associate, PR Legal

PR Legal at a Glance

PR Legal is a Serbian business law firm which renders advice on a full range of corporate matters, from day-to-day legal issues to large M&A and capital-raising transactions. We provide high-quality legal services to companies, entrepreneurs, private entities, and public institutions, in a modern and pro-active manner, based on unique professional experience in high-profile transactions and disputes.

Always aiming for practical feasibility, and when necessary, dig deep in order to secure our clients’ best interests, either before the court, state authorities or counterparties. In any case, commitment is omnipresent in all our work.

We distinguish ourselves from our competitors through understanding of commercial interests considering present legal framework, by providing smart and cost-effective business solutions, and most of all by our passion for doing business.

In PR Legal we believe that exceptional results can be achieved only when talented and reliable people work together in the appropriate environment. With such approach and commitment, our focus is on teamwork and encouraging of relationships based on trust and cooperation. Investment in our people is investment in our future, which allows us to provide comprehensive and top-quality assistance to our clients.

We care about our clients, while the building of strong relationships and a culture of excellent client service remains our main compass.
Firm's website.