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Postponed deadlines for submission of financial statements and corporate income tax returns

Postponed deadlines for submission of financial stateme

The Decree was published in the Official Gazette No. 57 and entered into force on 16 April 2020.

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The Government of Serbia adopted the Decree on Shifting the Deadlines for Holding the Regular Session of the General Meeting of Shareholders and Submitting Annual and Consolidated Financial Statements of Companies, Cooperatives, Other Legal Entities and Entrepreneurs, as well as Deadlines for Filing Corporate Income and Self-Employment Income Taxes , the Validity of Licensed Auditors' Licenses and Licenses for Assessing the Value of Real Estate That Expire during the State of Emergency due to COVID-19 disease triggered by SARS-CoV-2 (Decree).

The Decree was published in the Official Gazette No. 57 and entered into force on 16 April 2020.

Deadlines for submission of financial statements are shifted according to the following calendar:

Type of financial statements

Regular deadline

Postponed deadline

Regular annual financial statements for 2019

30 June 2020

90 days from the date of termination of the state emergency

Consolidated 2019 annual financial statements

31 July 2020

120 days from the date of termination of the state emergency

Extraordinary financial statements

60 days from the date on which the financial statements are prepared

30 days from the date of termination of the state of emergency if the regular deadline expires during the state of emergency

Regular annual financial statements for companies with a business year that is different from the calendar year

Six months from the date of preparation of the financial statements

90 days from the date of termination of the state of emergency if the regular deadline expires during the state of emergency

The deadline for submission of annual reports, i.e. annual financial statements with the auditor's report of all companies whose reporting is regulated by the Capital Market Law, i.e. the Law on Investment Funds or the Law on Open Investment Funds with a Public Offering, is postponed to 60 days from the date of termination of the state of emergency.

The deadlines for filing corporate income tax return are shifted according to the following calendar:

Tax return

Regular deadline

Postponed deadline

2019 corporate income tax return

29 June 2020

90 days from the date of termination of the state of emergency

Corporate income tax return for a tax period different from the calendar year

180 days from the expiration of the period for which corporate income tax is assessed

90 days from the date of termination of the state of emergency if the regular deadline expires during the state of emergency

 

The deadline for holding a regular meeting of the joint stock company assembly is postponed to 90 days from the date of termination of the state of emergency (in ordinary circumstances, the deadline is no later than six months from the end of the financial year).

Please note that delayed deadlines do not prevent companies from meeting their obligations on a regular basis if they are able to do so.
 

If you have any questions or you need assistance of our professionals, please contact us at tax@kpmg.rs

For previous editions of KPMG Tax Alerts please visit the following web page:

KPMG Tax Alerts


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