Starting from January 1, 2024, all taxpayers who are subject to value-added tax (VAT) must use the Electronic Invoicing System (SEF) to report their VAT transactions. The SEF is a digital platform that allows taxpayers to record their VAT data in either collectove or individual form within 10 days after the end of each tax period. The tax period can be either monthly or quarterly, depending on the taxpayer’s annual turnover.

Taxpayers can make corrections to their VAT data in the SEF until the 15th day of the current month for the previous month. This is also the deadline for filing the VAT tax return, which remains unchanged. 

Taxpayers who fail to comply with the SEF requirements will face severe penalties under the Electronic Invoicing Law. Legal entities, such as private companies or public enterprises, will be fined from 200,000 to 2,000,000 RSD. Entrepreneurs will be fined from 50,000 to 500,000 RSD. The responsible person of a legal entity will be fined from 50,000 to 150,000 RSD.