Serbia VAT update

The Serbian parliament has approved a range of VAT changes. They will largely continue the harmonisation of the country’s indirect tax regime with the European Union.

The amendments are listed below, and come into effect on 1 January 2020:

• Limiting the obligation on foreign VAT registered businesses to appoint a local VAT agent to where VAT exempt with input VAT credits;
• Setting the time of supply, when VAT is due, for intellectual property supplies as the date of the invoice;
• Implementation of the new EU VAT rules on vouchers, single and multi-use schemes; and
• Update on the place-of-supply rules for certain supplies, including trains and boats.