BIFIDEX (Business and Financial Data Exchange) is the service delivery platform of the Regional Business Registry Portal (RBRP) which, as of March 2019, has officially started operating. This portal offers transparent and easy access to information regarding the companies in the Western Balkan countries.
The draft of the new Act on Trademarks will be on public debate until August 13, 2019. The need for enacting the new Trademark Act is twofold. Firstly, the problems and experiences in the day to day appliance of the provisions of the current Trademark Act need to be implemented in the new text. Additionally, the trademark system in Serbia needs to be made compliant with the EU Directive 2004/48/EZ.
In the last five years significant changes have occurred in the Serbian business and political environment. This has been a time of dramatic change – with the general goal of transforming the position and the image of Serbia both regionally and globally, strongly affirming a pro-EU stance and making Serbia much more attractive for foreign investment. Obviously, both of these goals are interconnected because improving the image of a country brings more investments, and foreign investors generating profits in Serbia improves Serbia’s global image.
National Alliance for Local Economic Development (“NALED”) has submitted its proposal for the changes of the flat-rate taxation system to the National Coordination Body for Battling Underground Economy (“NCB”). This Government body will review the proposed changes, which would substantially alter the system of flat-rate taxation of independent contractors (i.e. individual entrepreneurs) as it exists now, and have a particular impact on certain industries which rely on it to a great extent, such as the IT sector.
The National Assembly of the Republic of Serbia has on 20 April 2018 adopted amendments to the Foreign Exchange Operations Act (“FEXO”) in order to meet the requirements stemming from the Stabilization and Association Agreement (SAA) with the European Union. These provisions, now allow, amongst other things, for the free movement of capital related to portfolio investments and short-term finance loans and credits.
In order to speed up turnover of funds in the Serbian economy, the Serbian parliament enacted a piece of legislation in 2012 regulating the terms of payment in commercial transactions, including ones in which public sector entities are debtors, and regulating the public sector’s obligation to register the received invoices – the Act on Terms of Payment in Commercial Transactions (the “Act”).