Serbia’s Ministry of Finance released updates to the electronic invoicing (e-invoicing) rulebook in the official gazette no. 65/2024 on 2 August 2024. These amendments will take effect from 1 September 2024, with specific provisions concerning the electronic recording of input value-added tax (VAT) applying to tax periods beginning on 1 September 2024.
The changes address various aspects, including determining entity status and tax periods, separate invoices for building supplies, tax categories, electronic recording of input VAT, data included in the input VAT record, automatic data entry, and deadlines for electronic recording of VAT and input VAT. The delivery note will also be required as an attachment to the e-invoice.
In the System of Electronic Invoices (SEF), users can verify an entity’s VAT status. Entities registered as VAT payers can select their tax reporting period on SEF, choosing between a calendar month or a calendar quarter to submit their VAT return.
The explanation of some of the main provisions of the e-invoicing rulebook are as follows:
Tax categories
The proposed new tax categories as per the amendments to the Rulebook are:
- S20 – standard VAT calculation at the 20% rate;
- S10 – standard VAT calculation at the 10% rate;
- AE20 – reverse VAT calculation at the 20% rate;
- AE10 – reverse VAT calculation at the 10% rate.
Electronic recording of input VAT
Input VAT is recorded cumulatively for the tax period when specific data are entered automatically or manually into the SEF interface. It is expected that data related to the procurement of goods and services from VAT payers – tax debtors – will be recorded cumulatively based on invoice type:
- Electronic invoices;
- Fiscal receipts;
- Other invoices.
Conversely, data about the procurement of goods and services from a foreign entity, which is a VAT payer, are recorded from individual VAT records based on internal accounts. These include:
- Internal account – foreign entity
- Internal account – VAT payer
Automatic entry of data
Data is automatically entered after the conclusion of the tax period for which electronic input recording is done. This occurs between the 1st and the 10th day of the calendar month following that tax period.
Data contained in the input VAT record
The Input VAT record includes detailed information such as:
- Input the VAT record number, status, and the recording date;
- The specific year, tax period (monthly or quarterly), and the particular month or quarter in question;
- Details of goods and services procured in Serbia from VAT-registered suppliers, where the taxpayer is the provider;
- Information on goods and services procured in Serbia from VAT-registered suppliers, where the taxpayer is the recipient;
- VAT paid on imported or delivered goods released into free circulation as per customs regulations;
- Compensation VAT paid to farmers;
- Adjustments to the input tax deductions.
