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5. oktobra, 2015

SERBIA: The Law of amendments to the Value Added Tax (VAT) law in Serbia

The Parliament of the Republic of Serbia on 28th September 2015 adopted The Law of amendments to the Value Added Tax (VAT) law.

Adopted amendments have not been published in Official Gazette RS yet, but will be official in recent future. The Law of amendments to the VAT law are to become effective on the first day after publishing in Official Gazette RS. The most of provisions will be applied from 15th October 2015 (some of them before or after that date)

The most important amendments are:
  • Possibility has been introduction for both foreign legal entities and individuals (who do not have permanent establishment or residence on territory of Republic of Serbia), to register for VAT in Serbia if they carry out supply of goods and render services in Serbia. In order to register for VAT in Serbia, a non-resident payer would have to appoint a tax representative with particular restriction. This amendment should decrease reverse charge calculation in supply of goods and rendered of services carry out by non-resident and to enable foreign entities and individuals claim back input VAT;
  • Reverse charge mechanism has been extended to all recipients of goods and services in the construction industry, not only for supply of goods and rendered of services to  investor, as well as for case of transfer of a mortgaged real estate, pledged property and goods and services that are under enforcement procedure;
  • Cancelation of restriction for right of taxpayer to claim back input VAT in case of procurement of electrical appliances used in household, TV and radio devices etc. using for furnishing administrative premises. But right to claim back input VAT in relation to meal supplies and transport of employees shall be denied to taxpayers;
  • With regards to electricity, natural gas and heating/cooling energy trading, place of supply rules are changing, concept of taxpayer is being introduced for distributors of such goods as well as tax exemption on importation of goods in question providing that the goods are to be delivered via transmission, transport and distributive network;
  • The special tax rate has been extended on all passenger transport services (not only city and inter-city) and on all accommodation services rendered in accordance with Touristic Law.
  • Unique VAT return submission deadline is to be introduced for all VAT payers (monthly and quarterly VAT payers) – within 15 days from the end of VAT period, starting from 01.01.2016;
  • VAT payers shall be liable to prepare and submit VAT calculation summary for each VAT period, together with the VAT return, starting from 01.01.2017;
It is expected in the near future introduction of new by-law which will define new amendments in more details.
In case of additional questions or necessity for additional explanation please do not hesitate to contact us.