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A new edition of the OECD Guidelines

A new edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations was published in 2022. The new release contains the following changes: In Chapter II, which refers to the application of profit split method, it is explained exactly where the profit sharing method is applicable In Chapter VI, an annex was […]

MINIMUM WAGE FOR 2023

Based on Article 112, paragraph 2 of the Labor Law, the Government of Serbia made a decision to increase the minimum wage from 201.22 to 230.00 RSD per hour. The minimum wage, without taxes and contributions for mandatory social insurance, for the period January-December 2023 will be 230.00 dinars/hour net. The decision was published in […]

Notification of the PU on the calculation of depreciation of fixed assets

The Tax Administration is 27.6.2022. published a Notice on the calculation of depreciation of fixed assets, which contains an example of calculation and presentation of data in the OA Form. The calculation of depreciation of fixed assets in the manner prescribed by Article 10 of the Law on Corporate Income Tax is applied in accordance […]

Notice for taxpayers of annual personal income tax

A new calculator of the Annual Personal Income Tax has been set up on our application in accordance with the new regulations. The deadline for submitting the Tax Return for determining the annual personal income tax – form PPDG-2R, for 2021, expires on May 16, 2022. years. More detailed information on the annual personal income […]

The Rulebook on Fiscal Accounts Has Been Amended

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 […]

Tax relief for salaries of persons engaged in research and development

The Rulebook on the conditions and manner of exercising the right to tax exemption based on the salary of employees in research and development, which entered into force on April 16, 2022, has been published. year, according to Article 21i of the Law on Personal Income Tax. According to that article, which has been in […]

Explanation regarding the annual personal income tax for 2021.

An explanation regarding the annual personal income tax for 2021 has been published on the website of the Ministry of Finance. The taxpayer of the annual personal income tax for 2021 shall submit the tax return on the PPDG-2R form to the competent tax authority by May 16, 2022. You can view the text of […]

NEW DEMO VERSION OF THE ELECTRONIC INVOICE SYSTEM AVAILABLE

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 […]

NEW FORM PPDG-2R

In the Official Gazette of RS no. 33 from 11.3.2022. The Rulebook on Amendments to the Rulebook on Forms of Tax Reports for Determining Personal Income Tax Payable by Decision was published, and it entered into force on March 19, 2022. An amended form PPDG-2R and a new way of filling out the form were […]

ANNUAL CITIZEN INCOME TAX FOR 2021

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.

NOTICE OF THE AGENCY FOR BUSINESS REGISTERS OF JANUARY 31, 2022

A new Information System of the Agency for Receipt, Processing and Public Disclosure of Financial Statements was launched All interested parties are informed that today, January 31, 2022, a new Special Information System of the Agency for Receipt, Processing and Public Disclosure of Financial Reports, ie Documentation (PIS FI Agency) was launched. With the construction […]

AVERAGE SALARIES AND WAGES PER EMPLOYEE, NOVEMBER 2021

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 […]

LOWEST AND HIGHEST BASIS FOR CALCULATION AND PAYMENT OF CONTRIBUTIONS

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 […]

AMENDMENTS TO THE RULEBOOK ON VAT CONCERNING INVOICING

The Rulebook on Amendments to the Rulebook on Value Added Tax was published in the “Official Gazette of RS”, number 127 of 24.12.2021. Amendments to the Rulebook were made in order to comply with the regulations in the field of fiscalization and electronic invoicing concerning the issuance of invoices.Amendments to the Ordinance enter into force […]

EXPENSES ON THE BASIS OF SALARY BENEFITS ARE NOT RECOGNIZED IN DOUBLE-INCREASED AMOUNT AS EXPENSES OF SALARIES OF EMPLOYEES ENGAGED IN RESEARCH AND DEVELOPMENT

(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, […]

AVERAGE SALARIES AND WAGES PER EMPLOYEE, OCTOBER 2021

Average gross salaries and wages calculated for October 2021 amounted to 91 132 RSD, while average net salaries and wages amounted to 66 048 RSD. Increase of gross salaries and wages in the period January – October 2021, relative to the same period last year amounted to 8.2% in nominal terms, i.e. 5.7% in real terms. […]

NEW YEAR AND CHRISTMAS NON-WORKING DAYS

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 […]

ANNUAL LISTING OF ASSETS AND LIABILITIES AS OF 31 DECEMBER 2021

The obligation and way of conducting the stocktaking are regulated by the Law on Accounting (“Official Gazette of RS”, No. 73/2019 and 44/2021 – other law) and the Rulebook on the manner and deadlines for conducting the stocktaking and synchronizing the bookkeeping situation with the actual situation (RS Gazette, No. 89/2020). The deadline for submitting […]

EXTENSION FOR IMPLEMENTATION OF E-INVOICE SYSTEM ANNOUNCED – THE BEGINNING OF IMPLEMENTATION WILL BE POSTPONED TO MAY 1, 2022

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 […]

SET OF TAX LAWS PASSED

At the session held on November 26, 2021, the National Assembly of the Republic of Serbia passed a set of tax laws: Law on Amendments to the Law on Personal Income Tax Law on Amendments to the Law on Contributions for Compulsory Social Insurance Law on Amendments to the Law on Corporate Income Tax Law […]

AVERAGE SALARIES AND WAGES PER EMPLOYEE, SEPTEMBER 2021

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% […]

PROPOSALS FOR AMENDMENTS TO TAX LAWS

At the session held on November 3, 2021, the Government of the Republic of Serbia adopted the drafts of several tax laws. Proposals for amendments to tax laws are in the parliamentary procedure and are expected to be adopted by the end of November. The most important proposed amendments to these laws are: -Law on […]

THE PEP FORM HAS BEEN MODIFIED – ITEM 4.6. ADDED FOR AUTHORIZATION OF FISCALIZATION

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 […]

TAX ADMINISTRATION PUBLISHED USER INSTRUCTIONS FOR SUBMITTING DATA AND GENERATING A UNIQUE LABEL FOR BUSINESS PREMISES ELECTRONICALLY

The User Manual for submitting data and generating a unique label for business premises electronically has been published on the website of the Tax Administration (www.purs.gov.rs). Starting October 1, through the eTaxes portal, taxpayers will be able to register business premises in which they perform activities with fiscal devices. The obligation of the taxpayer is […]

AVERAGE SALARIES AND WAGES PER EMPLOYEE, JULY 2021

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. […]

NEW MODEL OF FISCALIZATION PRESENTED AT THE SERBIAN CHAMBER OF COMMERCE

An expert meeting dedicated to the introduction of a new fiscalization model was held at the Serbian Chamber of Commerce, attended by Finance Minister Siniša Mali, Director of the Tax Administration Dragana Marković, representatives of the Serbian Chamber of Commerce, Naled Management Board President Vladislav Cvetković and 150 local businessmen. The Minister of Finance, Siniša […]

MATERNITY COMPENSATIONS

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 […]

DEMO VERSION OF THE ELECTRONIC INVOICE SYSTEM AVAILABLE

On the e-invoice website, on September 17, 2021, it was announced that a demo version of the eFaktura (electronic invoice) system is available at https://demoefaktura.mfin.gov.rs/login. The demo version of the E-invoice System defines the following: granting authorization to other users of the system, setting up data on the business entity, creating an output invoice by […]

LAW ON TAX PROCEDURE AND TAX ADMINISTRATION TO BE MODIFIED – MINISTRY OF FINANCE ANNOUNCES DRAFT LAW

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, […]

THE MINISTRY OF FINANCE HAS PUBLISHED TWO SPECIFICATIONS ABOUT THE IMPLEMENTATION AND DIRECT ACCESS TO ELECTRONIC INVOICES ON ITS WEBSITE

The Ministry of Finance has published two documents on their eFaktura website about the application of electronic invoices in the software of future users and its integration into the existing electronic invoice systems. The specification of the adjusted application of the standard EN 16931-1 for electronic invoices in the local trade system of Republic of Serbia […]

NEW RULEBOOK ON THE CHART OF ACCOUNTS

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 […]

A DECREE WAS ADOPTED ON ACTIVITIES IN WHICH THERE IS NO OBLIGATION TO RECORD RETAIL TRADE THROUGH AN ELECTRONIC FISCAL DEVICE

Government session held on April 1, 2021, the Decree on determining the activities where there is no obligation to record retail trade through an electronic fiscal device was passed. Starting from the technical and functional characteristics of electronic fiscal devices and the specifics of performing these activities, certain activities have been determined that are exempted […]

ANNUAL PERSONAL INCOME TAX FOR INCOME GENERATED IN 2020

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 […]

New Decree on the Establishment of the Program of Direct Benefits

The new Decree on establishing the Program of direct benefits from the budget of the Republic of Serbia to economic entities in the private sector in order to mitigate the economic consequences caused by the epidemic of Covid-19 disease caused by the SARS-COV-2 virus entered into force on February 13th 2021. The Regulation does not […]

Several Laws adopted and published

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 […]

AMENDMENTS TO THE VAT LAW

At the session of the National Assembly, held on 17.12.2020, the Law on Amendments to the VAT Law was adopted. The Law was published in the “Official Gazette of RS”, No. 153/2020 on 21.12.2020 and will apply from 1.1.2021, except for the provision concerning the tax exemption relating to virtual currencies, which will apply from […]

AMENDMENTS TO THE LAW ON PROPERTY TAXES

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 has been published

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 […]

Issuing a license to provide accounting services

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 minimum wage for 2021 is 183,93 RSD per working hour

The Government of the Republic of Serbia passed the Decision, which stipulates the net amount of the minimum wage in the amount of 183,93 RSD per working hour. The net amount of the minimum wage in 2021 will be: RSD 29,428.80 in a month with 160 working hours RSD 30,900.24 in a month with 168 […]

“My First Salary” Program

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, […]

Conclusion of the Government on new measures to support economic entities

At the Government session held on July 30, 2020, a Conclusion was passed by which the Government gives its consent for additional direct benefits to be paid to economic entities and to approve additional delays in the payment of public revenues. DIRECT GRANTS TO BUSINESS ENTITIES The first payment of direct benefits will be made […]

Fees for protection and improvement of the environment

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 […]

Which entities are required to have a statutory audit

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 final decision on tax treatment of transportation costs to employees

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 […]

„Small Business Continuity Checklist“ by IFAC

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 […]

New rules for the classification of legal entities

In accordance with the new Law on Accounting, the new rules for the classification of legal entities apply for 2020, based on data from the annual financial report for 2019. The criteria are as follows to meet two of the three criteria:   micro legal entities small legal entities medium legal entities large legal entities […]

New deadlines for financial reports and more

Government Decree of 16th April 2020 prescribes the postponement of deadlines for the submission of financial reports, tax returns for income tax and income tax from self-employment and annual general meetings. Below are the new deadlines: JUNE 5th June 2020 Deadline for submission of extraordinary financial reports 5th June 2020 Validity of licenses for audit […]

Amendment of the Decree on Fiscal Benefits and Direct Payments

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 […]

New deadlines for submission of financial statements and tax return

Government of Republic of Serbia has adopted Decree regulating delay of deadlines for submission of annual and consolidated financial statements of companies, cooperatives, other legal entities and entrepreneurs, as well as deadlines for filing company and self-employment income tax returns. The deadline for submission of annual financial statements with the auditor’s report for all taxpayers […]

Prescribed Form for presenting information on persons for whom a large legal entity is entitled to the payment of direct benefits

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 […]

Decree governing the financial support program was adopted

On 10.04.2020. a Decree was adopted to mitigate the economic consequences of pandemic. The program defined in this Decree relates to the granting of credit facilities to business entities for liquidity management and working capital. Board of Directors of Development Fund (Fond za razvoj), in accordance with this program, will determine the more detailed criteria […]

Decree on fiscal benefits

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 […]

Conclusion of the Government of Serbia regarding holiday leave

The Government of Serbia has issued a Conclusion recommending employers in the territory of the Republic of Serbia to enable those who are obliged to perform regular work duties in state of emergency, to use the holiday leave for 2019 by the end of 2020. During state of emergency, for those employees who are allowed […]

Qualified newly employed status and continued self-employment

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 […]

Employee movement during curfew

Business entities are obliged to issue to each employee who performs his / her tasks from 5pm  to 5 am, and for which an agreement has been obtained, that it is exempted from the implementation of the Order on the Prohibition and Restriction of Movement of Persons in the Territory of the Republic of Serbia. […]

Announced set of measures by the Government of Serbia to help the economy

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 […]

Business in times of corona

The state of emergency in the Republic of Serbia was declared on March 15 due to the pandemic of the Corona virus 19. There have been many changes in the operations of the companies from day to day. In order to protect the health of employees, many companies organized work from home, the regime of […]

Two new calculators within the Kreston MDM BusinessINFO application

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 […]

Instruction to business entities prescribing the exact manner of issuing a permit for movement of employees during curfew

The Ministry of Economy has issued an Instruction to business entities prescribing the exact manner of issuing a permit for movement of employees during curfew. It is necessary to create a list of employees on this form https://privreda.gov.rs/wp-content/uploads/2020/03/PolijskiCas.xls And submit it to the Ministry of Economy at [email protected] After that, the employer issues to the […]

Notice of work due to the COVID-19 virus pandemic

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 […]

DTT between Serbia and Israel

The double taxation treaty between Serbia and Israel began to apply from 1.1.2020. The taxes to which this Agreement applies are: In Israel: personal income tax and corporate income tax (including capital gains tax) income tax on the alienation of property which is subject to taxation in accordance with the Law on Real Estate Taxation […]

Non-taxable income for individuals in 2019 – RSD 2,729,304

The non-taxable amount of complementary annual income tax in 2019 is RSD 2.729.304, so all natural persons who have earned income above this amount are required to file a tax return for the complementary annual income tax. Individuals subject to annual tax are residents of Serbia for income earned in the country and abroad, as […]

For compensation of the costs of arrival and departure from work tax rate of 10% is applicable, but no contributions are paid

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 […]

APR: application for submission of reports is active

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 […]

CENTRAL REGISTRY OF ULTIMATE OWNERS

Ministry of Economy has announced that misdemeanor reports will be filed against legal entities that do not register the ultimate owners in the Central Registry, and requests for instituting misdemeanor proceedings will be filed by the Agency for Business Registers (APR) after the prescribed deadline. The fine for this type of offense ranges from 500,000 […]

New Tax alert

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 […]

Reduced pension contribution rate from 12% to 11.5%

By adopting the Law on Amendments to the Law on Compulsory Social Security Contributions (Official Gazette of RS, No. 86/2019) the rate of pension contribution at the expense of the employer is reduced from 12% to 11.5%. The new rate will be applicable from 1.1.2020.

Old employment benefits

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.

New Laws

The National Assembly is 6.12.2019. adopted the Proposal of Decision on approval of the Decision on amendments to the Financial plan of the Social Security Fund for Military Insureds for 2019, submitted by the Government, as well as the Bill on Amendments to the Law on Contributions for Compulsory Social Security, the Law on Amendments […]

Rulebook on the determination of telecommunications services and services provided electronically

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, […]

New Year and Christmas gifts

Employee benefits in respect of gifts for children for the New Year and Christmas are not considered earnings up to the amount of the prescribed non-taxable amount, which is now 9,784 dinars per year per child. Gifts of greater value than non-taxable amount, gifts to children of employees over 15 years of age, as well […]

Extension of the deadline for the new codebook of occupations

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 […]

Amendments to the Law on brokerage and lease of real estate

The Government of the Republic of Serbia has adopted the Proposal of the Law on Amendments to the Law on Real Estate Brokerage and Leasing. Among other things, the draft law provides for the amendment of Article 5, which defines the conditions for entry in the Register of Real Estate Brokers: 1) An entrepreneur or […]

The new classification rules apply from 2020 onwards

(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 […]

Extended period to 12/31/2020 for use of old tax incentives

The Law on Amendments to the Law on Personal Income Tax and the Law on Contributions for Compulsory Social Security stipulate the extension of the deadline for the use of old tax benefits for the employment of new persons until 31.12.2020. However, it is stipulated that claims for tax and contributions refunds should be submitted […]

Entrepreneur Independence Test

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 […]

Documenting expenses for coming to work – Law amendments

After the adoption of the amendments to the Law on personal income tax, employees will have to document to their employers all expenses for coming to work, except if the employer pays a monthly transport pass by direct payment through the invoice to the city carrier. The most recent changes – through the addition of […]

The document accompanying the goods in transit may be in electronic form in a tablet

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 […]

New Law on Auditing

The new Law on Auditing has been published in the Official Gazette of RS, no. 73/2019 from 11.10.2019 and shall enter into force on 1 January 2020. You can find an overview of the new law in our Tax alert.

TAX TREATMENT OF THE RECEIPTS OBTAINED BY A NATURAL PERSON FROM A LEGAL ENTITY (NOT EMPLOYER), ON THE BASIS OF FINANCIAL AID FOR THE PURPOSES OF MEDICAL TREATMENT ABROAD

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, […]

INTERNATIONAL COOPERATION OF TAX ADMINISTRATIONS WILL BEGIN

Serbia was removed from the European gray list of tax jurisdictions, i.e. the list of jurisdictions that do not cooperate in tax matters. In July 2019, Serbia signed the Convention on Mutual Administrative Assistance in Tax Matters (MAC), which is 30.08.2019 endorsed by the Serbian Parliament and will be from effective 1.12.2019. Specifically, in December […]

AMENDMENTS TO COMPANY LAW

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 […]

Amendments to the Corporate Income Tax Law

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 […]

Amendments to the Law on Tax Procedure and Tax Administration

The Draft Law on Amendments to the Law on Tax Procedure and Tax Administration was published, which among other things: regulates in more detail the connection with the Bankruptcy Law, Introduces an act that will regulate the procedure, manner, deadlines content and form of the statement by which the taxpayer will declare the business premises, […]