Serbia introduces the new Rulebook on the VAT Tax

The Rulebook is based on 27 previously issued rulebooks which were, alongside the law and special decrees were defining the application of the complex provisions covering VAT and related taxation procedures. More details are as follows.

The new and codified Rulebook on the VAT Tax has been published in the Official Journal on 14/04/2021.

The Rulebook comes into force in the timeframe of 8 days from the publication date, but the application of the Rulebook starts from 1st July 2021.

The Rulebook is a codified solution of high importance due that is based on 27 previously issued rulebooks which were, alongside the law and special decrees were defining the application of the complex provisions covering VAT and related taxation procedures.

Now, the new solution will replace from the 1st of July the rulebooks on which it was based.

The new Rulebook will introduce important novelties in some of its parts and also it has defined more simply and concretely particular specifications which were difficult to understand.

From the 1st of July 2021 the legal background of the VAT rules will be defined from the:

• Law on VAT
• Rulebook on VAT
• Decree on the expenditure on which is not paid the VAT
• Decree on which criteria is based and defined, following the Law on VAT, the transfer of the goods abroad
• Decree on the enforcement of the Law on VAT on the territory of the autonomous province of Kosovo and Metohija

 

Some of the most important novelties which are defined by the introduction of the new Rulebook Decree are related to:

• Trade in goods and services free of charge
• Invoicing
• Keeping records and presenting data in the VAT Form
• Correction of the proportional tax deduction
• Turnover of goods and services that are exempt from VAT without the right to deduct previous tax.

 • The procedure for replacing goods within the warranty period