Author Archive for: krestonmdm

At the end of April, the regulations were changed in such a way that cash, payment cards, check and instant payment are considered cash for the purposes of fiscalization. However, on May 12, 2022, the Minister of Finance amended that part of the rulebook again, and published the Official Gazette on the same day, so […]

Amendments to the Rulebook on Fiscal Accounts entered into force on the day of publication in the Official Gazette. glasnik RS, No. 50/22 of 28 April 2022.According to the amended Article 6, paragraph 1, item 1) of the Ordinance, the taxpayer, via an electronic fiscal device, within the data on the method of payment on […]

Due to the extremely large number of requests received so far for approval of the List of categories of archival material and documentary material with retention periods, as well as approaching the legal deadline for submitting transcripts of archival books, and due to lack of adequate technical and personnel capacity, the Historical Archive of Belgrade […]

A new demo version of the Electronic Invoice System is available at: demoefaktura.mfin.gov.rsAll private sector entities are invited to register for the new demo version of the Electronic Invoice System.The production version of the Electronic Invoice System is available at: efaktura.mfin.gov.rsFrom the moment of registration, they apply all rights and obligations prescribed by the Law […]

Individuals who earned more than 3,268,224 dinars in 2021 have the obligation to file a tax return for the annual personal income tax and pay the tax. More details: Tax Alert 26.02.2022.

December 27, 2021/in News /by krestonmdm Average gross salaries and wages calculated for November 2021 amounted to 95.312 RSD, while average net salaries and wages amounted to 69.136 RSD. Increase of gross salaries and wages in the period January – November 2021, relative to the same period last year amounted to 9.1% in nominal terms, i.e. 5.2% in […]

The lowest and highest contribution bases are determined once a year on the basis of the average monthly salary paid in the period from October of the previous year to September of the current year. The amounts of the lowest and highest contribution bases for 2022 are calculated on the basis of the published data […]

(Opinion of the Ministry of Finance, No. 011-00-1157 / 2021-04 of 1 December 2021) In accordance with the provision of Article 22g paragraph 1 of the Law on Corporate Income Tax (“Official Gazette of RS”, No. 25/01, 80/02, 80/02 – other law, 43/03, 84/04, 18 / 10, 101/11, 119/12, 47/13, 108/13, 68/14 – other law, […]

In accordance with the Law on State and Other Holidays in the Republic of Serbia (“Official Gazette of the Republic of Serbia”, No. 43/01, 101/07 and 92/11), non-working days for the New Year and Christmas Eve are: January 1, 2 and 3* (Saturday-Monday) – New Year January 7 (Friday) – Christmas If one of the […]

At the meeting on application of electronic invoicing system, the Minister of Finance announced that the Law on Electronic Invoicing will be amended by the end of the year and that a transitional deadline will be given for adjusting the e-invoicing system by the end of April 2022.This means that the beginning of the application […]

September 24, 2021/in News /by krestonmdm Average gross salaries and wages calculated for September 2021 amounted to 89 980 RSD, while average net salaries and wages amounted to 65 218 RSD. Increase of gross salaries and wages in the period January – September 2021, relative to the same period last year amounted to 8.6% in nominal terms, i.e. 5.4% […]

The “Official Gazette of RS”, number 99 from 22.10.2021. has published The Rulebook on Amendments to the Rulebook on Filing Tax Reports Electronically, which amended the PEP form (added the item 4.6 for authorization of fiscalization). This amendment enables economic entities to authorize the submission of applications related to fiscalization and take over the security […]

Average gross salaries and wages calculated for July 2021 amounted to 89 330 RSD, while average net salaries and wages amounted to 64 731 RSD. Increase of gross salaries and wages in the period January – July 2021, relative to the same period last year amounted to 8.2% in nominal terms, i.e. 5.7% in real terms. […]

In its decisions on May 7, 21 and 28, the Constitutional Court of the Republic of Serbia declared certain parts of the Law on Financial Support to Families with Children Unconstitutional, which was the reason for the Ministry of Family Care and Demography to prepare a proposal for amendments to the law. The Assembly of […]

The Ministry of Finance has published the Draft Law on Amendments to the Law on Tax Procedure and Tax Administration. These changes, among other things, stipulate that the tax return on calculated contributions for compulsory social insurance for founders, ie members of a company (PP OD-O), will be submitted ex officio. Following the Article 41a, […]

Average gross salaries and wages calculated for June 2021 amounted to 89.793 RSD, while average net salaries and wages amounted to 65.070 RSD. Statistical Release, 25.08.2021.

From the financial reports prepared for 2021, the Rulebook is applied by all legal entities and entrepreneurs who have the obligation to apply double-entry accounting, except for legal entities which, by definition from the Law, are classified as large (banks, etc.) and other legal entities. The Rulebook is also applied by other legal entities, which […]

Individuals whose total personal net income in 2020 exceeds RSD 2.987.424 (non-taxable amount) are required to file a personal income tax return. The total personal net income earned in 2020 and the non-taxable amount are reported in the tax return, where the difference represents taxable income. A personal income tax return (PPDG-2R form) may be […]

At the session of the National Assembly held on 17.12.2020, a set of tax and financial laws was adopted, which were published in the “Official Gazette of RS”, No. 153/2020 on 21.12.2020, of which we single out: 1) Law on Amendments to the Law on Personal Income Tax 2) Law on Amendments to the Law […]

At its session held on November 26, 2020, the National Assembly of the Republic of Serbia adopted the Law on Amendments to the Law on Property Taxes, published in the “Official Gazette of the Republic of Serbia” No. 144/2020. Amendments to the Law on Property Taxes in the area of ​​property taxes will be applicable […]

New official translation of IFRS – International Financial Reporting Standards was published in the “Official Gazette of RS”, number 123/2020. Application of these translated IFRS is mandatory for regular annual financial statements prepared as of December 31, 2021. Earlier application of the above IFRS is also permitted, with the disclosure of relevant information in the […]

The Rulebook on the form and content of the request for the issuance of a license for the provision of accounting services, as well as the fee for the issuance of a license, has been published on the website of the Chamber of Certified Auditors. Along with the request for the issuance of a license […]

The program “My first salary” envisages the employment of 10,000 unemployed people who are less than 30 years old, have no work experience and are on the National unemployment registry. For nine months, the state will finance a part of their salaries through a monthly cash benefit of 20,000 RSD for those with secondary education, […]

The Law on Fees for the Use of Public Goods stipulates that the entity liable for fees for protection and improvement of the environment referred to in Article 134, paragraph 1, item 1) of the Law must submit an application with data relevant for determining the fee to the local public administration unit by July […]

We would like to emphasize that the Ministry of Finance published the opinion number 011-00-1089 / 2019-16 on December 17, 2019, which indicates and reminds that it is prescribed that the statutory audit is mandatory for regular annual financial statements of large and medium-sized legal entities classified in accordance with the law governing accounting, public […]

The unprecedented circumstances of COVID-19 have seen many businesses faced with challenges the likes of which they have never faced before. For many small businesses, having a trusted advisor that they can turn to for help and guidance through this crisis is incredibly important. Small- and medium-sized practices (SMPs) have a deep knowledge of their […]

Deadline for acquiring the status of a qualified new employee from Article 21ž paragraph 3 of the Personal Income Tax Law and Article 45đ paragraph 3 of the Law on Social Contributions, for a person who in the period from January 1, 2019 to December 31, 2019 did not have the status of insured employee, […]

Amendments to the Decree on Fiscal Benefits and Direct Benefits to Private Companies and Financial Assistance to Citizens to Mitigate the Economic Consequences of COVID-19 Disease were published in the Official Gazette of the RS, no. 60 of April 24, 2020. The changes are as follows: Article 9 June tranche of direct payments – the […]

The Government of the Republic of Serbia adopted the Rulebook on the Contents of the Form for presenting information on persons for whom a large legal entity is entitled to the payment of direct benefits, which entered into force on 15.04.2020. The Rulebook prescribes a Form for presenting information on persons for whom a large […]

Government has adopted the decree on fiscal benefits and direct payments to companies in private sector and financial aid to citizens in order to mitigate the economic consequences caused by disease covid-19 in order to mitigate the economic consequences of pandemia. You can read more in our Tax Alert on this subject which you can […]

According to the opinion of the Ministry of Finance RS No. 430-00-44 / 2020-04 dated 12.02.2020 when, after having been employed and having acquired the status of a qualified new employee in accordance with the conditions laid down in Article 21ž of the Law, that person continues to pursue an self-employment activity as an additional […]

The Serbian government has announced a set of measures to help the economy. An official legislation and a full implementation guide are expected in the next 10 days. Furthermore, the announced measures will help companies that have laid off less than 10% of employees The following measures are announced: Postponing of payment of due tax […]

Our Kreston MDM BusinessINFO app now has two new calculators that can make your day-to-day business easier. The annual personal income tax calculator fully assists not only in the calculation but also in completing the PPDG-2R tax form. The deadline for filing this tax return is May 15 of the current year for the previous […]

We would like to inform you that in accordance with the recommendations of the Government of the Republic of Serbia, Kreston MDM has taken all necessary measures to prevent the spread of the COVID-19 virus. In order to protect the health of our clients, as well as the health of our employees, all meetings and […]

OECD issued a report which contains transfer pricing guidance on financial transactions, developed as part of Actions 4, 8-10 of the BEPS Action Plan. This report is significant because it is the first time the OECD Transfer Pricing Guidelines includes guidance on the transfer pricing aspects of financial transactions, which will contribute to consistency in […]

Ministry of Finance has published on 1.2.2019 an opinion on documenting the costs of arrival and departure from work for employees. Each company has an obligation to properly document the costs, ie it is necessary to keep a record every month whether travel expenses for employees are covered and that there are documents justifying the […]

The Agency for Business Registers (APR) has issued a notice that as of 20.01.2020 access to the application for submission of reports through the Agency’s Special Information System is enabled, which provides a unique procedure for entering, controlling, signing and submitting statistical reports and financial reports with the prescribed documentation for 2019. This year, the […]

A new form PB 1 of tax balance sheet has been prescribed, which is replacing the old one. The new form has 69 items. Item 25 of the old PB 1 – Advertising and Propaganda Expenses was deleted and 5 new items were added: Item 36 – R&D expenditure recognized in double amount in accordance […]

On 06.12.2019 The National Assembly adopted the following amendments to the Law: Law on Compulsory Social Security Contributions Law on personal income tax Property Tax Law Corporate Income Tax Law Law on Tax Procedure and Tax Administration The laws were published in the “Official Gazette of the RS” No. 86 dated 06.12.2019. Most amendments are […]

The deadline for using the old employment benefits has been extended to 31.12.2020. From next year, claims for tax refunds and contributions will be submitted on special forms, which will be prescribed by the Minister of Finance by a by-law. The deadline for passing the by-law is April 2020.

In Official Gazette no. 75/2019 of 23.10.2019. Rulebook on the determination of telecommunications services and services provided electronically, within the meaning of the Law on VAT, and on establishing criteria and assumptions for determining the headquarters, permanent establishment, residence or residence of the recipients of telecommunications, radio and television broadcasting services and services provided electronically, […]

It is proposed to extend the deadline for updating the data in the Central Registry for the applicants for the single application for compulsory social security by another year, ie until December 31, 2020. Namely, after 28 years, Serbia has adopted a new Codebook of occupations, which includes jobs that have emerged in the labor […]

(Opinion of the Ministry of Finance, No. 011-00-916/2019-16 as of 29 October 2019) The provisions of Article 6, paragraph 1 of the Law on Accounting (“Official Gazette of the RS”, No. 73/2019 – hereinafter: the Law) stipulate that legal entities and entrepreneurs, within the meaning of this Law, shall be classified as micro, small, medium […]

The Law on Amendments to the Law on Personal Income Tax introduces the Entrepreneurship Independence Test to be introduced on 1.3.2020. Five of the nine criteria finally proposed were corrected, following public hearings held in Belgrade, Niš, Novi Sad and Kragujevac. After the changes, the criteria are: 1. the principal or related party with the principal […]

According to the Opinion of the Ministry of Trade, Tourism and Telecommunications, no. 011-00-00373 /2019-03 dated 24/09/2019 the goods in transit must be accompanied by documents that are directly related to the carriage of the goods and which in particular contain: the number and date of the document, business name, address, PIB and registration number […]

In accordance with the opinion of the Ministry of Finance, no. 011-00-616 / 2019 of 20/08/2019 If, for the purposes of treatment of a natural person, a legal entity (in which the physical person is not employed) provides and pays certain funds for the purposes of treatment in the appropriate health institution abroad (as stated, […]

The Ministry of Economy has prepared a draft Law on Amendments to the Company Law, which is scheduled for public debate to be held in the period 10-29. October. The draft provides for the following: detailed regulation of the treatment of own shares (application from 1.4.2020) the possibility of distributing retained earnings to employees (Article […]

Among other changes, the amendment of the Corporate Income Tax Law is expected to be enforced by the end of year. The most important change concerns additional reporting on business within international groups, which has already been implemented in almost all European countries. The report is intended to be aligned with the BEPS. According to […]

Through the announced amendments to the Law on Personal Income Tax, it will be proposed to increase the non-taxable amount of earnings from RSD 15,300 to RSD 16,300. Also, the planned amendments to the Law on Compulsory Social Security Contributions include a reduction of the total pension and disability insurance contribution rate from 26% to […]