Implementation of new Regulations on VAT from July 1

On the occasion of the implementation of the Regulations on VAT on July 1, the Chamber of Commerce of Serbia has organized, in cooperation with the Tax Administration, a number of meetings between representatives of the business community and the competent institutions, in order for everybody to prepare as well as possible and in time for the implementation of this bylaw, the CCIS announced.

The regulations proscribe that, in the period from July 1, 2018, till June 30, 2019, the competent tax authorities will not take into account the incorrectly stated data which don’t influence the VAT amount in the procedures of checking the validity of the data in the VAT forms.

At the meetings between representatives of the business community and the competent institutions, it was also considered how to enter the data (the VAT base) in the VAT form for deferrals, with the new feature being that the data on the trade of goods and services carried out for the VAT payer by another VAT payer or a person that is not a VAT payer will be registered based on the transaction calculation, that is, another document proving business transactions.

Also, representatives of the Tax Administration announced that the amendment to the regulations would not pertain to procurements realized by a VAT payer that is also a debtor for a transaction of another VAT payer (domestic/foreign person) or to the statement of data on the import of goods, realized advance payments, and changes to the VAT base.

Regarding the VAT base for received and paid advances, solutions are proposed under which the VAT base would be expressed based on the received advance payments and based on writebacks of received advance payments, and the Tax Administration will consider the proposition in the upcoming period.

When it comes to determining and registering the procurement value of advertising material without compensation and gifts under RSD 2,000, the tax authority believes that a special register of transactions (sales/purchase) of goods should be formed within the VAT register, under the Law on VAT.

The value by which data would be stated in the VAT form would be defined under Article 17 of the Law on VAT.

An electronic address through which the business community will be able to address the Tax Administration for help and additional explanations regarding the implementation of the Regulations will be set up this July, the press release says.

The director of the Tax Administration, Dragana Markovic, said at the gathering at the CCIS that it was with meetings and open dialogue with representatives of the business community that the Tax Administration was moving towards becoming a partner to the economy.

The Tax Administration has provided information support to electronic submission of VAT forms, and this February it published the User Guide for the statement of data in calculation breakdowns, an integral part of the app, said Olgica Trajkovic, the head of the Sector for Transformation, presenting the new features of the Rulebook on the Form, Content and Manner of Keeping VAT Records and the Form and Content of VAT Calculation Breakdown.

The normative interpretation of the provisions of the Regulations during the discussion with representatives of the business community was prepared by Natasa Kovacevic, the acting assistant minister for the fiscal system.

Privredna komora Srbije

Poreska uprava Srbije

Regulations on VAT

Law on VAT

Chamber of Commerce of Serbia

CCIS

Tax Administration of Serbia

VAT form

Dragana Markovic

electronic submission of VAT form

User Guide for the statement of data in calculation breakdowns

electronic entry of VAT data

Olgica Trajkovic

VAT calculation breakdown

record of transaction of goods

electronic submission of VAT forms

tax return

tax returns