Serbia VAT update

Sun 27th Sep 2015

The Serbian government has proposed a range of amendments to the VAT Law. Once approved by the parliament, they will enter into law in October 2016.

The VAT changes include:

  1. Where there is a transfer of a going concern that is not liable to VAT, the buyer will be subject to VAT if the assets are disposed of within 3 years
  2. Accommodation services in the tourism industry will be subject to the reduced VAT rate of 10%
  3. Foreign companies trading in Serbia may register as non-resident entrepreneurs for the first time, but must appoint a fiscal representative (‘Tax Proxy’), which are local tax payers in Serbia. The fiscal representative is responsible for full VAT reporting and remittances, and is jointly liable for any taxes due.
  4. Serbian VAT returns must now be submitted by the 15th of the month following the reporting period end (from 2016)
  5. In addition to the filing of a VAT return, Serbian VAT payers must also submit details of the VAT calculation – details to be provided nearer the deadline which is January 2017.

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