Detailed Explanation of Amendments to Law on Electronic Invoicing Which Bring Important New Features – Shorter Deadline for Filing VAT Records from January 1, Another Obligation from September

The e-invoicing system has been in full implementation for a year, and it’s no secret that companies have been facing numerous problems since the very beginning. “As those problems didn’t kill us, I reckon they have made us stronger,” Aleksandar Vasic, a member of the Management Board of the Association of Tax Advisers of Serbia, says for eKapija and adds that it is precisely that strength that will be required for the new rules that await the economy in 2024.

The new rules pertain to the amendments to the Law on Electronic Invoicing, which were adopted in October and which pertain to two important new features.

– Beginning with the taxation period which begins on January 1, the deadline within which the users of the e-invoicing system are obligated to file VAT records is shortened. Instead of 15 days from the expiration of the taxation period, the deadline will be shorter, so this obligation has to be fulfilled within 10 days – explains Vasic.

The deadline for the payment of the VAT remains 15 days, as before.

– The shortening of the deadline has caused much complaint among the companies, because they believe that it’s an additional burden. On the other hand, many administrative procedures have been considerably shortened with the implementation of the e-invoicing system, so it’s realistic to expect these obligations to be fulfilled without much additional effort – our interviewee adds.

Another big change is the obligation to record the previous VAT through the e-invoicing system.

– This is an introduction to setting up full VAT records in the e-invoicing system and the possibility to create the so-called preliminary tax return based on the data – Vasic says.

This obligation starts applying from September 2024, so, as eKapija’s interviewee believes, there will be plenty of time for the taxpayers to prepare for the new feature.

– It is important to note that there will be no double records, that is, that the VAT data as per the accounts we have received through the e-invoicing system will not be entered into the e-invoicing system. Only a smaller portion of the data, which the state doesn’t already have, will be recorded – explains the tax adviser.

By the end of the year, the amending of the bylaws is expected too, proscribing the way in which we will act primarily when it comes to recording VAT obligations within shortened deadlines, and the manner of recording the previous tax will be regulated by additional amendments, which our interviewee believes can be realistically expected in the summer.

– By the end of the year, additional amendments to the e-invoicing system can be expected, regarding the further integration with the fiscalization system, and probably the customs too, so the data about the paid customs fee for imports could be available on the very e-invoicing system – concludes Vasic.

I. Zikic

Udruženje poreskih savetnika Srbije Beograd

Association of Tax Advisers of Serbia

Aleksandar Vasić

Law on Electronic Invoicing

VAT

VAT records deadline

e invoicing system recording previous VAT

VAT payment deadline