At the session held on October 26, 2023, the National Assembly of the Republic of Serbia adopted a package of laws, which were published in the Official Gazette of the RS No. 92/2023 dated October 27, 2023. The laws entered into force eight days after their publication, and most of the provisions shall apply from January 1, 2024.
Law on Amendments to the Law on Electronic Invoicing
The law shall apply from January 1, 2024, except for the provisions related to the new obligation of electronic recording of input tax, applied for tax periods starting after August 31, 2024.
The most important amendments to the Law on Electronic Invoicing are:
- the introduction of a new obligation of electronically recorded VAT calculated in the previous phase of turnover, i.e. paid when importing goods, regardless of whether the VAT payer can exercise the right to deduct the input tax. This obligation shall be applied starting from August 31, 2024;
- shortening the period in which the taxpayer is obliged to perform the electronic recording of the VAT calculation – within ten days after the end of the tax period instead of, as it was until now prescribed, within the deadline for submitting the tax return in accordance with the VAT Law. It is prescribed that the taxpayer shall correct the recorded VAT calculation, if by the end of the deadline for submitting the tax return there is a change that has an impact on the electronic recording of VAT;
- the obligation to issue an electronic invoice for transaction based on which a fee is paid which represents public revenue for which there is an obligation to calculate VAT;
- conditions for deletion of SEF (System of Electronic Invoices) users;
- specification and expansion of penal provisions;
- Clarifications with the aim of harmonizing with the provisions of the Rulebook on electronic invoicing;
Amendments to the Rulebook on electronic invoicing and the Rulebook on value added tax will be adopted within 60 days from the date of entry into force of this Law.
Law on Amendments to the Law on Income Tax and Law on Amendments to the Law on Mandatory Social Insurance Contributions
The most important changes are:
- Increase in the tax-free amount of earnings from 21.712 dinars to 25.000 dinars per month. The tax exemption shall be applied from January 1, 2024.
- The deadline for exercising the right to refund of part of the paid tax and contributions in the percentage of 65% to 75% based on earnings for newly employed persons has been extended until December 31, 2024.
Law on Amendments to the Law on Health Insurance
The law is in force since November 4, 2023.
The most important changes are:
- The deadline for referring an employee, due to temporary incapacity for work, to the medical board was shortened from 60 days to 30 days after the end of total incapacity for work. The selected doctor determines temporary incapacity for work for up to 30 days, and in exceptional cases up to 60 days;
- The deadline for employers to submit a request for salary compensation has been shortened from previous 30 to 15 days from the day the salary is paid for the month to which the salary compensation refers, and the deadline for paying the salary compensation to employees has been shortened from previous 30 to 7 days from the day the funds were received.
Law on Amendments to the Law on Property Taxes
The most important changes that come into force on January 1, 2024 are:
- A tax exemption was introduced based on the tax on the transfer of absolute rights for the case when a foreign country acquires real estate for the needs of its diplomatic and consular representation, under the condition of reciprocity:
- The deadline from which local self-government units determine, collect and control the inheritance and gift tax and the tax on the transfer of absolute rights has been postponed until January 1, 2025. Until then, it remains under the jurisdiction of the Tax Administration.