New version of the Rulebook on Form, Content and Method of Keeping VAT Records and Form and Content of the Overview of VAT Calculation
The new version of the Rulebook on Form, Content and Method of Keeping VAT Records and Form and Content of the Overview of VAT Calculation (hereinafter: the Rulebook), has been published in the Official Gazette of the Republic of Serbia no. 90/2017 dated 6 October 2017.
The Rulebook goes into effect on 14 October 2017 and will be applied as of 1 January 2018.
The Rulebook specifies the method for keeping VAT records and the obligation for submitting an overview of VAT calculation on the POPDV form. The POPDV form is to be filed starting with the tax return for January 2018, or for the first quarter of 2018 (depending on whether the VAT payer filed VAT returns monthly or quarterly). If the POPDV form is not filed along with the VAT return it shall be deemed that the tax return has not been filed.
Compared to the previous Rulebook which was adopted in 2016, and which should have gone into effect starting January 2018, this Rulebook to a certain extent simplifies the keeping of VAT records and reduces the number of information items to be entered in the POPDV form.
However, the method of keeping VAT records and the preparation of the POPDV form according to the new Rulebook continues to impose significantly higher demands in terms of information to be provided in VAT records, which requires changes to be made in accounting software and/or in the program used for preparing VAT records.
Should you have any queries and require additional information and support in the Rulebook implementation process, we remain at your disposal.
KPMG Tax & Legal Department
KPMG d.o.o. Beograd
Kraljice Natalije 11
Office: +381 11 20 50 500