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News

E-invoices mandatory by law in Serbia

Thursday 20 May 2021 14:06 CET | News

The National Assembly of the Republic of Serbia has adopted the Law on Electronic Invoicing, according to lexology.com.

The Law brings significant changes to the economy, as it prescribes the gradual mandatory issuance of electronic invoices. The main reasons for the new law, as stated by the lawmakers, are to achieve transparency and legal certainty in electronic invoicing, facilitate tax controls, and enable automatic VAT refunds. According to the Law, the following entities will have the obligation to issue electronic invoices:

  • Private sector entities which are VAT payers;
  • Public sector entities; and
  • VAT representatives of foreign entities.
Other entities will not be obliged to issue electronic invoices, but they will be able to voluntary apply for their use if they are corporate income taxpayers or pay tax on income tax from self-employment. In addition to the obligation to issue electronic invoices, the Law also introduces a special obligation to electronically record the calculation of value added tax. This obligation will apply to public sector entities and private sector entities which are VAT payers, except for tax debtor for the import of goods and VAT payers for the trade of goods and services, including the advance received for that trade, for which the electronic invoice will be issued.

More: Link


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Keywords: e-invoicing
Categories: Banking & Fintech
Companies:
Countries: Serbia
This article is part of category

Banking & Fintech

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