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Newest updates on VAT Rulebook & Regulations for the import of equipment

The Official Gazette of the Republic of Serbia has published new regulations related to the implementation of the Law on Value Added Tax (hereinafter: the VAT Law) relating to situations in which there is no obligation to issue an invoice, to release tax exemptions, keep records and review VAT returns, as well as the Regulation for the exemption from customs and other duties on the import of equipment.

The new rulebook on the procedure for exercising tax exemptions with VAT with the right to deduction of the previous tax.

Obtaining tax exemptions for the export of goods

The rulebook defines the tax treatment for situations in where the export customs clearance of goods was carried out in one tax period, but the offset of the goods was claimed by customs in another tax period. In such situations, the taxpayer who exported goods has the right to a tax exemption in the period for which he holds the export declaration.

But if the export of goods was carried out during one tax period, and the expiry of the goods was not confirmed by customs, even in the first following tax period, the exporter is obliged to calculate VAT and submit an amended tax return for the period in which the tax clearance was carried out. The taxpayer has the right to deduct VAT calculated in this way in the period in which he/she obtains their export declaration.

For example, if a company executes export customs clearance in March, and they obtain their export declaration in April of the same year, their VAT form should show their VAT deductions in April. But if the company obtains the executive declaration in May, it is obliged to calculate their VAT deduction for March, meaning that their VAT form for May should be reduced in the amount of their VAT base rate and show turnover which has been VAT deducted.

The realization of tax exemptions for goods entering the free zone


The Rulebook defines that a taxpayer who is involved in the sale of goods or a is a recipient of goods, in accordance with the VAT law, has the right to release of tax exemptions if he/she possesses the following:

  • The supplier’s account of goods that have entered the free zone, which is certified by the competent customs authority, or
  • A certified copy of the declaration proving that the goods have entered the free zone in accordance with customs regulations.

The Rulebook entered into force on the 1st of July 2018.

Determining the cases in which there is no obligation to issue invoices and where certain information can be omitted


The Rulebook has been amended for the above-mentioned situations, and consequently it is forbidden that the VAT payer should issue an invoice in the following situations:

  • When there is no charge for turnover in the case of the transfer of all or part of a property if the buyer is a taxpayer or if he/she becomes a taxpayer by the act of property transfer or continues to perform the same business activity.
  • When turnover is realized through the implementation of a public-private partnership contract with elements of concession.
  • When there is no turnover charge for transactions made abroad in accordance to the VAT Law.

For the invoices issued for the above-mentioned turnover, the party issuing the invoice should omit the following:

  • the base rate
  • the tax rate
  • the calculated VAT
  • the notices which are in use for the turnover billing system

The information which should be included is; the value of turnover or transfer (turnover is realized through the implementation of a public-private partnership contract with elements of concession.)

The Rulebook entered into force on the 7st of July 2018.

The Rulebook on the form, content and method of keeping records of VAT and on the form and content of the VAT calculation


These amendments to the rules prescribe the method of keeping records about the turnover of investment gold.

In addition, it is envisaged that the Tax Administration Office will not consider data that is incorrectly presented in the VAT calculation and that has no effect on the final amount of tax obligations.

The Rulebook entered into force on the 1st of July 2018.

The conditions and procedure for exemption from customs and other duties on the import of equipment


This Regulation prescribes the conditions and procedure for exemption from customs and other taxes on the import of equipment from a foreign investor. It is based on the Investment Law and which was abolished in mid-May 2018 when the Regulation on the conditions and method of attracting direct investments was adopted.

This Regulation entered into force on the 1st of July 2018.

2018-07-26T12:38:47+00:00 July 26th, 2018|

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