The Serbian Ministry of Finance issued a rulebook on 16 December, 2016 that is effective 1 January 2017 and applies for purposes of preparing the 2016 tax return. The rulebook is on amendments and changes of the rulebook on the contents of the tax Balance and other issues relevant for the assessment of corporate income Tax.
The Rulebook on the tax balance introduces new items in the tax balance (Form PB-1) in accordance with the latest changes and amendments of the Corporate Income Tax Law from 2015. In addition, the Rulebook on the Tax Balance abolishes the previous line 30 of the Form PB-1 – Increase of allowance for receivables of insurance company above the amount set by the National Bank of Serbia. Taxpayers are required to submit a tax balance on Form PB-1 prescribed by the Rulebook on the Tax Balance as of 1 January 2017. In addition, there are only two cases under which the taxpayers should submit the tax balance on the old form PB-1 (valid until 31 December 2016) after 31 December 2016 in the case of submission- amended tax return for the tax return submitted by 31 December 2016; and tax return that the taxpayer failed to submit until 31 December 2016.
