A draft Law on Electronic Invoicing is prepared

Please note that starting July 1, 2021, the use of electronic invoices will be mandatory in public companies’ transactions, and for the private sector from July 1, 2022, the private sector will have to be able to accept it. Good to know: you can download this document within the portal.

Serbian Ministry of Finance has already prepared a draft Law on Electronic Invoicing, which stipulates that in this way, the obligations are first set for public sector institutions and companies. The use of electronic invoices will be mandatory in transactions in which public companies participate, as early as July 1 this year.

Companies in the private sector will have to accept invoices issued by public companies, but from July 1, 2022.

The issuance obligation for all, except for private individuals who are not VAT payers, will be valid from January 1, 2023.

The Ministry of Finance has already provided a platform, and the draft regulation should enter the parliamentary procedure soon.

As stated, electronic invoicing will contribute to the fight against the gray economy, and it will be easier to control taxpayers. Also, it is noted that the solution which envisages that the electronic invoice is issued in a structured electronic format, which enables its automatic processing, as well as that the electronic signature is not a necessary part of it, will certainly save time and contribute to the fight against payment delays in commercial transactions.