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home / Serbia introduces fiscal reps for foreign businesses and changes the VAT return due date
Serbia introduced important changes for foreign companies doing business in the country.
VAT registration requirements
Serbia will no longer require a foreign business to set up an establishment in order to have activities in the country. It is now possible to register for VAT through a fiscal representative in Serbia, with the corresponding benefits from a corporate tax perspective. Operating costs will also be reduced as human and technical resources are no longer required in the country. The fiscal representative will be jointly and severally liable for the VAT obligations of the company in Serbia.
These changes are aimed at attracting foreign investment into Serbia. The new rules also align the Serbian VAT regulations with the rest of European countries, where the VAT representative system is widely spread.
New deadline for VAT returns
The due date to file VAT returns in Serbia has been updated. All quarterly and monthly VAT returns will now be due by the 15th day of the month following the end of the reporting period. There is no distinction between quarterly and monthly VAT returns. This change is gives a shorter period to prepare quarterly VAT returns, as the previous deadline was the 20th of the month.
In addition to the due date changes, the form and appendixes have been updated. From 1 January 2017, all companies will be required to submit an appendix with details on each transaction reported.