The new law on Fiscalization in Serbia

This Law will be applicable from January 1, 2022. One of the most important regulations is that the taxpayer is obliged to record each individually realized retail turnover, regardless of the method of payment (cash, instant transfer of approval, check, payment card, other non-cash payment methods, etc.), including advance payment for future retail turnover, by using the electronic fiscal device.

The new Law on Fiscalization which applicability will start from the 1st January 2022 is based on the online transmission of the data from the electronic cash registers to the Tax Authority in real-time.

The new Decree adopted by the Ministry of Finance concerning the new type of the fiscalization has impacted the definition of the subjects of fiscalization in a significant manner.

The definition and explanation of the subjects which will be obligatory to record the turnover by using new types of the electronic fiscal cash registers have been changed in the manner through which the frame of the taxpayers which will use the new type of the fiscal device is expanded.

The new Law on Fiscalization defines that the taxpayer who needs to operate under the fiscalization rules is every taxpayer of income tax from self-employment in terms of the law governing personal income tax and every taxpayer of corporate income tax in terms of the law governing corporate income tax, which trades in the retail business

 The taxpayer is obliged to record each individually realized retail turnover, regardless of the method of payment (cash, instant transfer of approval, check, payment card, other non-cash payment methods, etc.), including advance payment for future retail turnover, by using the electronic fiscal device.