Serbia: New electronic invoicing law, VAT implications

The new law includes rules about the issuance, sending, receiving, processing, and storage as well as the contents and elements of e-invoices.

New law includes rules about the issuance, sending, receiving, processing, and storage

Legislation concerning electronic invoicing—and that has implications for value added tax (VAT) reporting—has been enacted, and the measures generally are effective during 2022.

The new law includes rules about the issuance, sending, receiving, processing, and storage as well as the contents and elements of electronic invoices (e-invoices)—that is, e-invoices issued in transactions between public sector entities, private sector entities, and public and private sector entities.

Under the new measures, an electronic invoice is a request for payment with regard to a transaction, any document that affects that payment, and in some instances an invoice issued for advance payments when sent and received through an electronic invoicing system.

The law specifies elements that an e-invoice is expected to include. It is anticipated that future regulations will provide guidance regarding the contents of an e-invoice.

The law specifies the obligation for electronic recording of the VAT calculation in the e-invoicing system, but otherwise does not generally affect application of the VAT regulations.

Read a May 2021 report prepared by the KPMG member firm in Serbia

 

 

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