As the Minister of Finance stated in his announcement, the use of electronic invoices in the new e-invoicing system will be free of charge and its application will bring numerous benefits to the entire Serbian economy.
Serbia expects to have a much faster VAT refund due to the new e-invoicing system
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Serbia
Author: Kristina Dosen
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General information
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Content accuracy validation date:
06.10.2021
Content accuracy validation time:
08:20h
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Perhaps the most important change and what the new e-invoice system brings is that legal entities that are in the VAT system will be able to rely on a much faster VAT refund. Namely, if the input and output invoices match in the system, the VAT refund will be done in a single day, and not as before wherein the deadline was 45 days. This will solve one of the basic objections to the current system when it comes to VAT refunds. The Minister of Finance claims that the mentioned time frame issue will be completely resolved by using the electronic invoicing system.
Regarding deadlines, the Law on Electronic Invoicing brings forth the phased introduction of the obligation to issue and receive electronic invoices, and there are three key dates: January 1st, 2022, July 1st, 2022. and January 1st, 2023.
First of all, the public sector entity is obliged to receive and keep the electronic invoice as well as to issue electronic invoices to another public sector entity. That will be applied from January 1, 2022, the Minister of Finance Siniša Mali stated on his Instagram profile.
A demo version of the e-invoice system is now available. The detailed information can be found on the website https://www.efaktura.gov.rs/
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