- Amendments to VAT Law: The Serbian Parliament adopted amendments to the VAT Law, effective from December 15, 2024, with application starting January 1, 2025. Changes include a new preliminary VAT return system starting January 2026 and adjustments to the tax period change procedure effective December 20, 2024.
- Key Changes: The amendments introduce a preliminary VAT return, changes in tax base adjustments, requirements for input VAT deduction, and obligations for issuing internal invoices. The preliminary VAT return includes data on transactions affecting VAT liability and must be filed along with the regular VAT return.
- New Compliance Requirements: VAT payers must issue debit or credit notes for tax base changes, prepare internal invoices for certain transactions, and ensure accurate e-invoice acceptance for input VAT deductions. Registration for VAT is mandatory for businesses exceeding a turnover of RSD 8,000,000 in the previous 12 months.
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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