The issue of numerous bylaws governing the Serbian VAT system has been the leading topic in the White Paper of the Council of Foreign Investors in tax reforms in the field of VAT.
Addressing this issue, the USAID CFG project has assisted the Ministry of Finance in drafting a single Rulebook on VAT. We engaged Deloitte Serbia tax experts, and in nine months we drafted with the Ministry a proposal of a single Rulebook on VAT. The scope of work and the topics we dealt with will show how demanding and extensive the work was. Together with the Ministry, a team of experts merged 27 VAT rulebooks into a single regulation implementing the provisions of the VAT Law. According to our findings, we reviewed about 1,760 provisions of the existing VAT regulations (contained in about 280 articles). We made a total of 350 interventions in 266 provisions of the VAT framework of bylaws.
The Rulebook will apply from July 1, 2021
Source Pravno
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