The Serbian Ministry of Finance suspends penalties on the wrong VAT reporting in SEF

Adoption and Grace Period: The Rulebook on Amendments to the Rulebook on Electronic Invoicing was adopted and published on June 27, 2025, becoming effective on July 1, 2025. The Serbian Ministry of Finance will not impose fines for VAT reporting discrepancies in the SEF system until December 31, 2025, allowing for error disregard during this period.
Extension of Previous Provisions: This grace period extends previous provisions from the Rulebook on Electronic Invoicing, which exempted penalties for electronic VAT record errors from January 1, 2025, to June 30, 2025.
New Requirements for Notes: Effective July 1, 2025, the Rulebook mandates that credit and debit notes must include the date of the transaction change and the issuance date of the note, enhancing record accuracy.

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Serbia suspends fines on SEF-reported VAT data

Key facts

On 27 June 2025, Serbia amended its Rulebook on Electronic Invoicing.
These amendments came into effect on 1 July 2025
The primary change: temporary suspension of fines for discrepancies in VAT data submitted to SEF (Serbia’s System of Electronic Invoices).
This relief applies to penalties that typically arise during tax audits tied to SEF-reported VAT records

Why this matters

Since 2023, Serbia has required VAT-registered businesses (and those invoicing public entities) to use SEF for real-time e‑invoicing and VAT recording.
Non‑compliance—or incorrect VAT data—previously led to fines ranging from ~200,000 to 2 million RSD
The amendment provides businesses breathing room to adjust to evolving reporting standards and ensure accurate data entry without immediate financial penalty.

How this affects businesses

No fines from tax audits on VAT data submitted via SEF—if inaccuracies are found in 2025.
Obligations remain: Businesses must still submit VAT records electronically and correct any errors.
Penalties will resume once the suspension ends—no public date has been specified for reinstatement.

Contextual timeline

Date	Development
27 Jun 2025	Rulebook on Electronic Invoicing amended
1 Jul 2025	Amendments became effective
2025 (rest of year)	No fines for SEF-reported VAT data discrepancies
Post-2025	Potential reintroduction of fines (date TBD)

✅ What you should do now

Continue submitting VAT data via SEF as required.
Review internal processes for SEF reporting to ensure accuracy.
Use this grace period to upgrade systems and train staff in how VAT data should be input.
Watch for official communications or further updates signaling when fines will resume.

E-invoicing