After being postponed for several times, the new VAT Rule Book came into force on 01/07/2018 introducing new records, as well as the obligation of taxpayers to submit a VAT calculation, together with the VAT return. The Tax Administration of the Republic of Serbia has published on its website the User Manual for presenting of Data in the VAT Calculation Overview, which also presents the legal framework, general guidelines, explanations and examples.
After the beginning of the implementation, a one-year period was left in which the tax authority did not take into account the erroneously presented data that do not affect the amount of the tax liability. That period ended on 30/06/2019.
It should be emphasized that regulations do not stipulate any penalty clauses which would apply in case the data which do not affect the VAT liability in VAT records and ’POPDV’ (VAT Calculation Overview) and ’PP PDV’ (VAT Tax Return) forms are not correct. Therefore, we assume that in case of the tax audit, the incorrectly presented data will be noted without imposing any penalties.