Serbia delays introduction of online VAT return filings
- Nov 22, 2014 | Richard Asquith
Plans to introduce online filings of Serbian Value Added Tax have been delayed until January 2017.
Generally, Serbian VAT registered businesses have to currently submit paper invoices on a monthly basis if their turnover is above RSD 50m per annum. Otherwise it is quarterly returns. In addition to the delay in the introduction of e-filing for VAT, personal and corporate income tax returns have been delayed to April 2015.
Serbia VAT regime
Serbian VAT is currently at 20%, slightly below the European Union average VAT rate of just under 22%. Serbia is gradually harmonizing its VAT regime with that of the EU to encourage trade with the single market. This involves incorporating many of the rules of the EU VAT Directive into VAT law. One major difference is that foreign companies may not register in Serbia as non-resident traders. This means that cannot act as the importer of record (without losing the right to recover the import VAT) or sell domestically as the merchant of record.
