Amendments to VAT Rulebook and electronic recording of VAT in the system of electronic invoices (SEF)
Serbia introduced some revisions to the VAT Rulebook in the Official Gazette in February 2023, which are effective from 1 March 2023. In addition, as of 1 January 2023, all VAT debtors which are VAT payers, as well as voluntary users of the system of electronic invoices (SEF), are obliged to electronically record VAT calculations in SEF. The amendments to the VAT Rulebook relate to the extension of the deadline for issuance of e-invoices for so-called 'successive supplies' (multiple individual supplies of goods or services made to one person in one tax period). With specific exceptions, electronic recording of VAT calculations in SEF is performed for transactions where:
- The reverse charge VAT applies;
- when a VAT-able supply with compensation is made to a person who is a taxpayer for income from self-employment, and
- to a person deemed a taxpayer in terms of the Corporate Income Tax Law, as well as in case of VAT-able free of charge supplies, VAT-able expenditures (write-offs), shortages, etc.